Algert Global LLC Raises Stock Holdings in Potlatch Corporation $PCH

Key Points

• Algert Global LLC significantly increased its position in Potlatch Corporation by 220%, acquiring a total of 23,098 shares in the first quarter, valued at over $1 million.
• Institutional investors own 86.06% of Potlatch’s stock, with other firms like American Century, Russell Investments, and Nuveen also boosting their stakes during the same period.
• Potlatch recently reported earnings of $0.09 per share for the last quarter, beating analyst expectations, despite a 14.2% decline in revenue year-over-year.

Algert Global LLC raised its holdings in Potlatch Corporation (NASDAQ:PCH - Free Report) by 220.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,098 shares of the real estate investment trust's stock after buying an additional 15,880 shares during the quarter. Algert Global LLC's holdings in Potlatch were worth $1,042,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PCH. Westwood Holdings Group Inc. raised its holdings in shares of Potlatch by 12.2% during the fourth quarter. Westwood Holdings Group Inc. now owns 2,404,064 shares of the real estate investment trust's stock valued at $94,360,000 after acquiring an additional 260,674 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in Potlatch by 17.5% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,359,832 shares of the real estate investment trust's stock valued at $92,623,000 after purchasing an additional 351,777 shares during the period. Charles Schwab Investment Management Inc. increased its position in Potlatch by 1.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,560,123 shares of the real estate investment trust's stock valued at $70,393,000 after purchasing an additional 17,352 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in Potlatch by 1.4% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,413,351 shares of the real estate investment trust's stock worth $55,474,000 after purchasing an additional 19,521 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Potlatch by 8.7% in the 4th quarter. Northern Trust Corp now owns 1,233,250 shares of the real estate investment trust's stock worth $48,405,000 after purchasing an additional 98,914 shares in the last quarter. 86.06% of the stock is owned by hedge funds and other institutional investors.

Potlatch Stock Down 1.2%

Potlatch stock traded down $0.52 during mid-day trading on Thursday, hitting $41.37. The company had a trading volume of 49,812 shares, compared to its average volume of 522,699. Potlatch Corporation has a 12 month low of $36.82 and a 12 month high of $48.12. The company has a market capitalization of $3.20 billion, a PE ratio of 78.00 and a beta of 1.12. The stock's 50 day moving average price is $41.20 and its two-hundred day moving average price is $41.43. 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 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 firm had revenue of $274.99 million during the quarter, compared to the consensus estimate of $267.66 million. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The company's revenue was down 14.2% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. As a group, sell-side analysts anticipate that Potlatch Corporation will post 0.8 earnings per share for the current fiscal 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 issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.4%. Potlatch's dividend payout ratio (DPR) is presently 339.62%.

Wall Street Analyst Weigh In

PCH has been the topic of a number of research reports. Citigroup reaffirmed a "buy" rating and set a $47.00 target price (down previously from $49.00) on shares of Potlatch in a research note on Tuesday, June 3rd. Wall Street Zen lowered shares of Potlatch from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Truist Financial raised Potlatch from a "hold" rating to a "buy" rating and lifted their price objective for the company from $44.00 to $52.00 in a research report on Wednesday, July 16th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Potlatch presently has an average rating of "Buy" and an average price target 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.