Algert Global LLC Has $1.04 Million 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 lifted its stake in Potlatch Corporation (NASDAQ:PCH - Free Report) by 220.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,098 shares of the real estate investment trust's stock after purchasing an additional 15,880 shares during the period. Algert Global LLC's holdings in Potlatch were worth $1,042,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. boosted its holdings in Potlatch by 168.1% during the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock worth $30,000 after buying an additional 417 shares during the last quarter. Costello Asset Management INC bought a new position in Potlatch during the 1st quarter worth approximately $30,000. Quarry LP grew its holdings in Potlatch by 224.2% during the fourth quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 482 shares during the period. UMB Bank n.a. grew its holdings in Potlatch by 41.6% during the first quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 254 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in Potlatch in the first quarter valued at approximately $52,000. Institutional investors own 86.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PCH shares. Citigroup reissued a "buy" rating and set a $47.00 price target (down from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Wall Street Zen cut 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 upped their price objective for the stock from $44.00 to $52.00 in a research report on Wednesday, July 16th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $50.00.

Potlatch Stock Performance

Shares of NASDAQ:PCH traded down $0.72 on Tuesday, hitting $42.69. The company had a trading volume of 639,273 shares, compared to its average volume of 525,734. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 80.55 and a beta of 1.12. The stock has a 50 day moving average price of $41.03 and a 200 day moving average price of $41.42. Potlatch Corporation has a 1-year low of $36.82 and a 1-year 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 announced its earnings results 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. The company had revenue of $274.99 million for the quarter, compared to analyst estimates of $267.66 million. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The firm's quarterly revenue was down 14.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. Analysts expect that Potlatch Corporation will post 0.8 EPS for the current year.

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.