Curi RMB Capital LLC Boosts Stake in Potlatch Corporation $PCH

Key Points

• Curi RMB Capital LLC has increased its holdings in Potlatch Corporation by 2.5% to a total of 343,796 shares, valuing its stake at approximately $15.5 million.
• Potlatch recently reported quarterly earnings of $0.09 EPS, exceeding estimates, with revenue of $274.99 million, a 14.2% year-over-year decline.
• The company declared a quarterly dividend of $0.45 per share, resulting in an annualized yield of 4.4% and a high dividend payout ratio of 339.62%.

Curi RMB Capital LLC boosted its holdings in Potlatch Corporation (NASDAQ:PCH - Free Report) by 2.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 343,796 shares of the real estate investment trust's stock after buying an additional 8,388 shares during the period. Curi RMB Capital LLC owned 0.44% of Potlatch worth $15,512,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC grew its position in Potlatch by 130.0% in the first quarter. AQR Capital Management LLC now owns 485,689 shares of the real estate investment trust's stock worth $21,691,000 after acquiring an additional 274,535 shares in the last quarter. Ancora Advisors LLC grew its position in Potlatch by 3.8% in the first quarter. Ancora Advisors LLC now owns 346,212 shares of the real estate investment trust's stock worth $15,621,000 after acquiring an additional 12,573 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Potlatch in the first quarter worth about $19,176,000. Graham Capital Management L.P. purchased a new position in Potlatch in the first quarter worth about $1,217,000. Finally, Caption Management LLC purchased a new position in Potlatch in the first quarter worth about $370,000. Hedge funds and other institutional investors own 86.06% of the company's stock.

Potlatch Price Performance

Shares of Potlatch stock traded down $0.19 during trading hours on Monday, reaching $42.68. The stock had a trading volume of 491,759 shares, compared to its average volume of 522,404. The stock's 50 day moving average is $41.61 and its 200 day moving average is $41.26. The firm has a market capitalization of $3.30 billion, a PE ratio of 80.53 and a beta of 1.12. Potlatch Corporation has a twelve month low of $36.82 and a twelve month high of $48.12. 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 issued its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.02. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. The business had revenue of $274.99 million during the quarter, compared to the consensus estimate of $267.66 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The company's revenue was down 14.2% compared to the same quarter last year. Equities analysts expect that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Potlatch Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Monday, September 15th. Potlatch's dividend payout ratio is 339.62%.

Wall Street Analysts Forecast Growth

PCH has been the subject of several analyst reports. Wall Street Zen downgraded shares of Potlatch from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Citigroup reissued a "buy" rating and issued a $47.00 price objective (down previously from $49.00) on shares of Potlatch in a research note on Tuesday, June 3rd. Finally, Truist Financial raised shares of Potlatch from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $44.00 to $52.00 in a research note on Wednesday, July 16th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Potlatch presently has a consensus rating of "Buy" and an average target price of $50.00.

Potlatch Profile

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.