SG Americas Securities LLC Invests $1.18 Million in Potlatch Corporation (NASDAQ:PCH)

SG Americas Securities LLC purchased a new position in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 26,219 shares of the real estate investment trust's stock, valued at approximately $1,183,000.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Potlatch by 27.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,145,473 shares of the real estate investment trust's stock valued at $44,960,000 after purchasing an additional 245,026 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Potlatch by 4.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 162,135 shares of the real estate investment trust's stock valued at $6,364,000 after purchasing an additional 7,567 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Potlatch by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,542,771 shares of the real estate investment trust's stock worth $60,554,000 after acquiring an additional 70,745 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Potlatch by 11.0% in the 4th quarter. Bank of America Corp DE now owns 745,033 shares of the real estate investment trust's stock valued at $29,243,000 after purchasing an additional 73,781 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in Potlatch by 17.3% in the 4th quarter. New York State Common Retirement Fund now owns 271,698 shares of the real estate investment trust's stock valued at $10,664,000 after acquiring an additional 40,058 shares in the last quarter. 86.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PCH shares. Truist Financial decreased their price objective on Potlatch from $44.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Citigroup reaffirmed a "buy" rating and issued a $47.00 price objective (down from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Potlatch currently has an average rating of "Moderate Buy" and an average target price of $48.57.

Potlatch Price Performance

NASDAQ:PCH traded up $0.19 during mid-day trading on Friday, reaching $38.54. The stock had a trading volume of 379,250 shares, compared to its average volume of 475,568. The stock has a 50-day simple moving average of $38.97 and a two-hundred day simple moving average of $41.54. The stock has a market capitalization of $3.03 billion, a PE ratio of 63.02 and a beta of 1.17. Potlatch Corporation has a 12 month low of $36.82 and a 12 month high of $48.12. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.43 and a quick ratio of 1.04.

Potlatch (NASDAQ:PCH - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.13. The business had revenue of $268.26 million during the quarter, compared to analysts' expectations of $243.68 million. Potlatch had a net margin of 4.35% and a return on equity of 2.36%. Potlatch's quarterly revenue was up 17.6% on a year-over-year basis. On average, equities analysts anticipate that Potlatch Corporation will post 0.8 earnings per share for the current year.

Potlatch Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Friday, June 6th. Potlatch's dividend payout ratio (DPR) is currently 295.08%.

About Potlatch

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.