Potlatch Corporation (NASDAQ:PCH) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Potlatch Corporation has received a consensus rating of "Buy" from seven analysts, with an average 12-month price target of $50.00.
• The company reported $0.09 earnings per share for the last quarter, surpassing expectations and generating revenues of $274.99 million, despite a 14.2% year-over-year decline.
• Potlatch announced a quarterly dividend of $0.45, yielding 4.3%, with a significant dividend payout ratio of 339.62%.

Potlatch Corporation (NASDAQ:PCH - Get Free Report) has been assigned a consensus rating of "Buy" from the seven analysts that are covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $50.00.

A number of research firms have recently weighed in on PCH. Wall Street Zen downgraded Potlatch from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Truist Financial upgraded Potlatch from a "hold" rating to a "buy" rating and boosted their price target for the stock from $44.00 to $52.00 in a report on Wednesday, July 16th. Finally, Citigroup restated a "buy" rating and set a $47.00 price target (down from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd.

Potlatch Stock Down 0.2%

NASDAQ PCH traded down $0.07 during trading hours on Friday, reaching $40.68. 121,856 shares of the company's stock were exchanged, compared to its average volume of 521,891. The company's 50-day moving average is $41.43 and its two-hundred day moving average is $41.34. Potlatch has a one year low of $36.82 and a one year high of $48.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.13. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 76.66 and a beta of 1.12.

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

Potlatch Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 4.4%. The ex-dividend date is Monday, September 15th. Potlatch's payout ratio is 339.62%.

Institutional Trading of Potlatch

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its stake in shares of Potlatch by 168.1% in 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 period. Costello Asset Management INC acquired a new position in shares of Potlatch in the first quarter worth approximately $30,000. Quarry LP lifted its stake in shares of Potlatch by 224.2% in the fourth quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 482 shares during the period. UMB Bank n.a. lifted its stake in shares of Potlatch by 41.6% in the first quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 254 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Potlatch by 61.1% in 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 period. 86.06% of the stock is currently owned by institutional investors.

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.