Potlatch Corporation (NASDAQ:PCH) Given Average Rating of "Buy" by Brokerages

Key Points

• Potlatch Corporation has received an average rating of "Buy" from six research firms, with a consensus price target of $49.83.
• The company reported earnings per share of $0.09 for the last quarter, exceeding estimates and showing a year-over-year revenue decrease of 14.2%.
• Potlatch will distribute a quarterly dividend of $0.45 on September 30th, translating to an annualized yield of 4.5%.

Shares of Potlatch Corporation (NASDAQ:PCH - Get Free Report) have received an average recommendation of "Buy" from the six research firms that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $49.8333.

PCH has been the subject of several research reports. Wall Street Zen downgraded Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Truist Financial upgraded Potlatch from a "hold" rating to a "buy" rating and increased their target price for the company from $44.00 to $52.00 in a research report on Wednesday, July 16th. Finally, Citigroup reiterated 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.

Hedge Funds Weigh In On Potlatch

Several large investors have recently bought and sold shares of the company. UMB Bank n.a. raised its position 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 purchasing an additional 254 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Potlatch by 61.1% during the second quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 411 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Potlatch by 168.1% during the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 417 shares during the last quarter. Quarry LP raised its position in shares of Potlatch by 70.9% during the first quarter. Quarry LP now owns 1,191 shares of the real estate investment trust's stock worth $54,000 after acquiring an additional 494 shares during the last quarter. Finally, Fiduciary Counselling Inc. raised its position in shares of Potlatch by 0.4% during the second quarter. Fiduciary Counselling Inc. now owns 117,237 shares of the real estate investment trust's stock worth $4,498,000 after acquiring an additional 521 shares during the last quarter. 86.06% of the stock is currently owned by institutional investors.

Potlatch Price Performance

Shares of PCH stock opened at $40.01 on Wednesday. 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 has a twelve month low of $36.82 and a twelve month high of $48.12. The company has a market cap of $3.09 billion, a P/E ratio of 75.49 and a beta of 1.12. The business has a fifty day simple moving average of $41.83 and a 200 day simple moving average of $40.85.

Potlatch (NASDAQ:PCH - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The business had revenue of $274.99 million during the quarter, compared to the consensus estimate of $267.66 million. During the same period in the prior year, the company earned $0.17 EPS. Potlatch's revenue for the quarter was down 14.2% on a year-over-year basis. On average, sell-side analysts forecast that Potlatch will post 0.8 EPS for the current fiscal year.

Potlatch Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.45 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.80 annualized dividend and a yield of 4.5%. Potlatch's dividend payout ratio (DPR) is currently 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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