Potlatch Corporation (NASDAQ:PCH) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its position in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 46.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,848 shares of the real estate investment trust's stock after selling 8,613 shares during the quarter. Mackenzie Financial Corp's holdings in Potlatch were worth $444,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PCH. Cetera Investment Advisers lifted its stake in Potlatch by 8.5% during the first quarter. Cetera Investment Advisers now owns 11,428 shares of the real estate investment trust's stock valued at $516,000 after purchasing an additional 898 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Potlatch in the first quarter worth approximately $2,293,000. Kennondale Capital Management LLC acquired a new stake in shares of Potlatch during the 1st quarter valued at $206,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Potlatch during the first quarter valued at $52,000. Finally, Kestra Private Wealth Services LLC bought a new stake in shares of Potlatch in the 1st quarter valued at approximately $266,000. 86.06% of the stock is owned by institutional investors and hedge funds.

Potlatch Stock Performance

Shares of NASDAQ PCH opened at $43.06 on Friday. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 81.25 and a beta of 1.12. Potlatch Corporation has a one year low of $36.82 and a one year high of $48.12. The business has a fifty day simple moving average of $40.09 and a 200 day simple moving average of $41.49. The company has a current ratio of 1.13, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47.

Potlatch (NASDAQ:PCH - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. The firm had revenue of $274.99 million for the quarter, compared to analyst estimates of $267.66 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The business's revenue for the quarter was down 14.2% on a year-over-year basis. Sell-side analysts expect that Potlatch Corporation will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

PCH has been the topic of a number of analyst reports. Citigroup reissued a "buy" rating and set a $47.00 price objective (down previously from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. Wall Street Zen cut Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Truist Financial upgraded shares of Potlatch from a "hold" rating to a "buy" rating and raised their price objective for the stock from $44.00 to $52.00 in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.00.

About Potlatch

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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