State of Wyoming Has $743,000 Holdings 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 lifted its holdings in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 116.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,478 shares of the real estate investment trust's stock after acquiring an additional 8,881 shares during the quarter. State of Wyoming's holdings in Potlatch were worth $743,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. lifted its stake in 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 worth $94,360,000 after purchasing an additional 260,674 shares during the last quarter. Deprince Race & Zollo Inc. increased its position in Potlatch by 17.5% in the fourth quarter. Deprince Race & Zollo Inc. now owns 2,359,832 shares of the real estate investment trust's stock worth $92,623,000 after buying an additional 351,777 shares during the period. Charles Schwab Investment Management Inc. increased its position in Potlatch by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,560,123 shares of the real estate investment trust's stock worth $70,393,000 after buying an additional 17,352 shares during the period. Silvercrest Asset Management Group LLC increased its position in Potlatch by 1.4% in the fourth 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 buying an additional 19,521 shares during the period. Finally, Northern Trust Corp increased its position in Potlatch by 8.7% in the fourth quarter. Northern Trust Corp now owns 1,233,250 shares of the real estate investment trust's stock worth $48,405,000 after buying an additional 98,914 shares during the period. Institutional investors and hedge funds own 86.06% of the company's stock.

Potlatch Price Performance

Shares of PCH traded down $1.26 during trading hours on Tuesday, hitting $40.77. 348,834 shares of the company were exchanged, compared to its average volume of 522,841. The firm has a fifty day simple moving average of $41.40 and a 200-day simple moving average of $41.34. The company has a market capitalization of $3.15 billion, a PE ratio of 76.92 and a beta of 1.12. 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 one year low of $36.82 and a one year high of $48.12.

Potlatch (NASDAQ:PCH - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $274.99 million during 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%.Potlatch's revenue for the quarter was down 14.2% on a year-over-year basis. During the same quarter last year, the company posted $0.17 EPS. As a group, sell-side analysts predict 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. Shareholders of record on Monday, September 15th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.4%. The ex-dividend date is Monday, September 15th. Potlatch's payout ratio is presently 339.62%.

Analyst Ratings Changes

Several equities research analysts have weighed in on PCH shares. Citigroup reaffirmed a "buy" rating and issued a $47.00 target price (down from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Truist Financial raised Potlatch from a "hold" rating to a "buy" rating and increased their target price for the stock from $44.00 to $52.00 in a research report on Wednesday, July 16th. Finally, Wall Street Zen lowered 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, According to MarketBeat, Potlatch currently has an average rating of "Buy" and an average target price of $50.00.

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.