State of Wyoming Has $743,000 Position in Potlatch Corporation $PCH

Key Points

• The State of Wyoming increased its holdings in Potlatch Corporation by 116.9% in Q1, bringing its total shares to 16,478, valued at approximately $743,000.
• Potlatch's recent quarterly earnings exceeded analysts' expectations, with reported earnings per share of $0.09 and revenue of $274.99 million, despite a 14.2% decline compared to the previous year.
• The company announced a quarterly dividend of $0.45 per share, leading to an annualized dividend yield of 4.3%, with a payout ratio of 339.62%.

State of Wyoming raised its position in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 116.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,478 shares of the real estate investment trust's stock after buying an additional 8,881 shares during the period. State of Wyoming's holdings in Potlatch were worth $743,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PCH. UMB Bank n.a. boosted its stake in Potlatch by 41.6% in the first quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 254 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Potlatch by 168.1% in the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 417 shares during the last quarter. Quarry LP boosted its stake in Potlatch by 224.2% in the fourth quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 482 shares during the last quarter. Costello Asset Management INC bought a new position in Potlatch in the first quarter valued at approximately $30,000. Finally, Fifth Third Bancorp boosted its stake in Potlatch by 67.1% in the first quarter. Fifth Third Bancorp now owns 1,893 shares of the real estate investment trust's stock valued at $85,000 after acquiring an additional 760 shares during the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

Potlatch Stock Down 0.1%

Shares of NASDAQ:PCH traded down $0.03 during midday trading on Wednesday, reaching $40.73. 96,784 shares of the company were exchanged, compared to its average volume of 521,707. Potlatch Corporation has a fifty-two week low of $36.82 and a fifty-two week high of $48.12. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $41.43 and a two-hundred day simple moving average of $41.34. The firm has a market cap of $3.15 billion, a PE ratio of 76.84 and a beta of 1.12.

Potlatch (NASDAQ:PCH - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.09 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $267.66 million. During the same period last year, the business posted $0.17 earnings per share. The firm's quarterly revenue was down 14.2% on a year-over-year basis. As a group, sell-side analysts forecast that Potlatch Corporation will post 0.8 earnings per share for the current year.

Potlatch Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Monday, September 15th. Potlatch's dividend payout ratio (DPR) is presently 339.62%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PCH shares. Truist Financial raised shares of Potlatch from a "hold" rating to a "buy" rating and raised their price objective for the company from $44.00 to $52.00 in a research note on Wednesday, July 16th. Citigroup reiterated a "buy" rating and issued a $47.00 target price (down from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. Finally, Wall Street Zen lowered shares of Potlatch from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $50.00.

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.