Potlatch Corporation $PCH Stake Lessened by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its holdings in Potlatch Corporation by 8.8%, resulting in ownership of 968,499 shares valued at $43.7 million as of their latest filing.
• Analysts have mixed opinions on Potlatch, with Truist Financial upgrading it to a "buy" rating and raising its price target to $52.00, while Wall Street Zen downgraded the stock from "hold" to "sell."
• Potlatch Corporation reported $0.09 earnings per share, exceeding analysts’ expectations, but showed a year-over-year revenue decline of 14.2%.

Wellington Management Group LLP lowered its stake in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 8.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 968,499 shares of the real estate investment trust's stock after selling 92,998 shares during the quarter. Wellington Management Group LLP owned 1.23% of Potlatch worth $43,699,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Envestnet Asset Management Inc. grew its stake in shares of Potlatch by 41.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 33,548 shares of the real estate investment trust's stock worth $1,317,000 after purchasing an additional 9,759 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Potlatch during the fourth quarter worth about $2,128,000. Mariner LLC boosted its stake in shares of Potlatch by 33.8% during the fourth quarter. Mariner LLC now owns 6,718 shares of the real estate investment trust's stock worth $264,000 after buying an additional 1,698 shares during the period. MetLife Investment Management LLC boosted its stake in shares of Potlatch by 6.4% during the fourth quarter. MetLife Investment Management LLC now owns 86,939 shares of the real estate investment trust's stock worth $3,412,000 after buying an additional 5,265 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Potlatch by 93.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,886 shares of the real estate investment trust's stock worth $231,000 after buying an additional 2,838 shares during the period. Hedge funds and other institutional investors own 86.06% of the company's stock.

Potlatch Stock Performance

Shares of NASDAQ:PCH traded up $0.33 during trading on Friday, reaching $42.03. 552,018 shares of the company's stock traded hands, compared to its average volume of 517,175. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 0.75. Potlatch Corporation has a 12 month low of $36.82 and a 12 month high of $48.12. The company has a 50 day moving average of $41.34 and a 200-day moving average of $41.40. The stock has a market capitalization of $3.25 billion, a P/E ratio of 79.30 and a beta of 1.12.

Potlatch (NASDAQ:PCH - Get Free Report) last announced 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. 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 earned $0.17 EPS. The company's revenue for the quarter was down 14.2% compared to the same quarter last year. On average, equities analysts expect that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Monday, September 15th. Potlatch's payout ratio is presently 339.62%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PCH. Wall Street Zen cut shares of Potlatch from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Citigroup reiterated a "buy" rating and issued a $47.00 price target (down from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Finally, Truist Financial upgraded shares of Potlatch from a "hold" rating to a "buy" rating and lifted their price target for the company from $44.00 to $52.00 in a report on Wednesday, July 16th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock 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.