Barings LLC increased its stake in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 317.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,366 shares of the real estate investment trust's stock after purchasing an additional 74,811 shares during the quarter. Barings LLC owned 0.12% of Potlatch worth $4,438,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Quarry LP increased its position in Potlatch by 224.2% during the 4th quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 482 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Potlatch by 168.1% during the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 417 shares during the period. UMB Bank n.a. raised its position in Potlatch by 41.6% in the first quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 254 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Potlatch in the first quarter worth $52,000. Finally, Fifth Third Bancorp lifted its holdings in Potlatch by 67.1% in the first quarter. Fifth Third Bancorp now owns 1,893 shares of the real estate investment trust's stock valued at $85,000 after acquiring an additional 760 shares during the period. 86.06% of the stock is owned by institutional investors and hedge funds.
Potlatch Trading Up 1.1%
Shares of PCH stock opened at $41.32 on Friday. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 77.96 and a beta of 1.14. The company has a current ratio of 1.13, a quick ratio of 1.04 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $39.79 and a 200 day moving average price of $41.47. Potlatch Corporation has a twelve month low of $36.82 and a twelve month high of $48.12.
Potlatch (NASDAQ:PCH - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.02. The business had revenue of $274.99 million during the quarter, compared to analyst estimates of $267.66 million. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. The company's revenue was down 14.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 earnings per share. Research analysts forecast that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.
Potlatch Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, June 6th. Potlatch's dividend payout ratio is currently 339.62%.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on PCH shares. Wall Street Zen cut Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday. Truist Financial upgraded shares of Potlatch from a "hold" rating to a "buy" rating and raised their target price for the company from $44.00 to $52.00 in a report on Wednesday, July 16th. Finally, Citigroup restated a "buy" rating and set a $47.00 target price (down previously from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $50.00.
Get Our Latest Stock Report on Potlatch
Potlatch Profile
(
Free Report)
PotlatchDeltic Corporation Nasdaq: PCH is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.
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