UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Purchases 629,334 Shares of Potlatch Corporation $PCH

Key Points

• UBS Asset Management significantly increased its stake in Potlatch Corporation by 254.6%, acquiring an additional 629,334 shares to reach a total of 876,480 shares worth $39.5 million.
• Potlatch Corporation reported earnings of $0.09 per share, exceeding estimates, but its revenue fell 14.2% year-over-year to $274.99 million.
• The company declared a quarterly dividend of $0.45, with a substantial dividend payout ratio of 339.62%, reflecting its commitment to returning value to shareholders.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Potlatch Corporation (NASDAQ:PCH - Free Report) by 254.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 876,480 shares of the real estate investment trust's stock after buying an additional 629,334 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 1.12% of Potlatch worth $39,547,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Harbor Capital Advisors Inc. grew its holdings in Potlatch by 168.1% during the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 417 shares during the period. Costello Asset Management INC acquired a new position in Potlatch during the first quarter valued at approximately $30,000. UMB Bank n.a. grew its holdings in Potlatch by 41.6% during the first quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 254 shares during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Potlatch during the first quarter valued at approximately $52,000. Finally, Quarry LP grew its holdings in Potlatch by 70.9% during the first quarter. Quarry LP now owns 1,191 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 494 shares during the period. 86.06% of the stock is owned by institutional investors.

Potlatch Stock Up 0.8%

Shares of PCH stock traded up $0.31 during trading on Thursday, reaching $40.70. The company's stock had a trading volume of 395,494 shares, compared to its average volume of 518,316. The business has a fifty day moving average price of $41.85 and a 200-day moving average price of $41.08. 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 company has a market cap of $3.15 billion, a price-to-earnings ratio of 76.79 and a beta of 1.12. 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 announced 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. The business had revenue of $274.99 million for the quarter, compared to analyst estimates of $267.66 million. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. The firm's revenue for the quarter was down 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Analysts anticipate that Potlatch Corporation will post 0.8 earnings per share for the current year.

Potlatch Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, September 15th. Potlatch's dividend payout ratio is 339.62%.

Wall Street Analysts Forecast Growth

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

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.