Potlatch Corporation $PCH Shares Acquired by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in Potlatch Corporation shares by 23.5%, owning 67,341 shares worth approximately $2.58 million after the recent acquisition.
• Despite a 14.2% decrease in quarterly revenue compared to the previous year, Potlatch reported earnings of $0.09 per share, surpassing the estimated $0.07.
• Analyst ratings for Potlatch show a consensus of "Buy" with an average target price of $49.83, while dividends were recently set at $0.45 quarterly.

Public Employees Retirement System of Ohio lifted its holdings in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 23.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,341 shares of the real estate investment trust's stock after acquiring an additional 12,822 shares during the period. Public Employees Retirement System of Ohio owned 0.09% of Potlatch worth $2,584,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bfsg LLC raised its position in shares of Potlatch by 0.8% during the 2nd quarter. Bfsg LLC now owns 98,711 shares of the real estate investment trust's stock worth $3,788,000 after acquiring an additional 788 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Potlatch by 61.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 411 shares in the last quarter. UMB Bank n.a. increased its position in Potlatch by 32.3% during the second quarter. UMB Bank n.a. now owns 1,143 shares of the real estate investment trust's stock worth $44,000 after buying an additional 279 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Potlatch during the second quarter worth approximately $292,000. Finally, Swedbank AB acquired a new position in Potlatch during the second quarter worth approximately $7,278,000. Institutional investors and hedge funds own 86.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PCH. Truist Financial raised Potlatch from a "hold" rating to a "buy" rating and lifted their price target for the stock from $44.00 to $52.00 in a research report on Wednesday, July 16th. Wall Street Zen lowered Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $49.83.

Potlatch Stock Up 2.5%

Shares of NASDAQ:PCH opened at $41.78 on Thursday. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 78.83 and a beta of 1.10. The firm's 50-day simple moving average is $41.76 and its 200-day simple moving average is $40.70. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. Potlatch Corporation has a fifty-two week low of $36.82 and a fifty-two week high of $48.12.

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

Potlatch Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.80 annualized dividend and a dividend yield of 4.3%. Potlatch's payout ratio is presently 339.62%.

Potlatch Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.