Strs Ohio Makes New Investment in Potlatch Corporation $PCH

Strs Ohio acquired a new position in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 14,600 shares of the real estate investment trust's stock, valued at approximately $659,000.

Several other institutional investors have also recently made changes to their positions in PCH. Deutsche Bank AG grew its position in Potlatch by 472.1% in the 1st quarter. Deutsche Bank AG now owns 908,253 shares of the real estate investment trust's stock worth $40,980,000 after purchasing an additional 749,491 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Potlatch by 254.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 876,480 shares of the real estate investment trust's stock valued at $39,547,000 after acquiring an additional 629,334 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Potlatch during the first quarter worth $19,176,000. Russell Investments Group Ltd. grew its position in Potlatch by 51.8% during the first quarter. Russell Investments Group Ltd. now owns 819,782 shares of the real estate investment trust's stock valued at $36,989,000 after buying an additional 279,654 shares during the period. Finally, AQR Capital Management LLC boosted its position in Potlatch by 130.0% during the first quarter. AQR Capital Management LLC now owns 485,689 shares of the real estate investment trust's stock worth $21,691,000 after acquiring an additional 274,535 shares during the last quarter. Institutional investors own 86.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PCH shares. Truist Financial upgraded shares of Potlatch from a "hold" rating to a "buy" rating and increased their price target for the company from $44.00 to $52.00 in a report on Wednesday, July 16th. Citigroup reiterated a "buy" rating and issued a $47.00 price target (down from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Finally, Wall Street Zen cut Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $49.83.

Potlatch Trading Down 2.1%

NASDAQ PCH opened at $39.86 on Friday. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 75.21 and a beta of 1.12. The stock's 50-day simple moving average is $41.84 and its two-hundred day simple moving average is $40.94. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. Potlatch Corporation has a twelve month low of $36.82 and a twelve month high of $48.12.

Potlatch (NASDAQ:PCH - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm 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 was down 14.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 EPS. Research analysts forecast that Potlatch Corporation will post 0.8 EPS for the current fiscal year.

Potlatch Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, September 15th. Potlatch's payout ratio is presently 339.62%.

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.

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