Swedbank AB Makes New Investment in Potlatch Corporation $PCH

Key Points

• Swedbank AB invested approximately $7.28 million in Potlatch Corporation, acquiring 189,680 shares in a recent SEC filing.
• Potlatch Corporation's quarterly earnings exceeded expectations, reporting $0.09 earnings per share against a consensus estimate of $0.07, although revenues were down 14.2% year-over-year.
• The company announced a dividend of $0.45 per share, reflecting an annual yield of 4.5%, with the ex-dividend date set for September 15th.

Swedbank AB acquired a new position in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 189,680 shares of the real estate investment trust's stock, valued at approximately $7,278,000. Swedbank AB owned approximately 0.24% of Potlatch as of its most recent SEC filing.

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

Potlatch Stock Performance

PCH stock traded down $0.02 during trading hours on Monday, reaching $39.84. The stock had a trading volume of 725,604 shares, compared to its average volume of 484,202. The stock has a market capitalization of $3.08 billion, a PE ratio of 75.17 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. The stock has a 50-day simple moving average of $41.82 and a 200 day simple moving average of $40.86. Potlatch Corporation has a fifty-two week low of $36.82 and a fifty-two week high of $48.12.

Potlatch (NASDAQ:PCH - Get Free Report) last posted its earnings results on Monday, July 28th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.02. The company had revenue of $274.99 million during the quarter, compared to analysts' expectations of $267.66 million. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. Potlatch's quarterly revenue was down 14.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. Analysts predict that Potlatch Corporation will post 0.8 EPS for the current fiscal year.

Potlatch Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid 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 is Monday, September 15th. Potlatch's dividend payout ratio (DPR) is currently 339.62%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PCH shares. Citigroup reaffirmed a "buy" rating and issued a $47.00 target price (down previously from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Wall Street Zen downgraded shares of Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Truist Financial raised shares of Potlatch from a "hold" rating to a "buy" rating and raised their target price for the company from $44.00 to $52.00 in a research report on Wednesday, July 16th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $49.83.

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.