Potlatch (NASDAQ:PCH) Releases Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Potlatch (NASDAQ:PCH) reported a quarterly EPS of $0.09, missing analysts' expectations of $0.19 by $0.10.
• Following the earnings miss, PCH stock fell by 3.3% to $40.56, with over 902,000 shares traded.
• Potlatch announced a quarterly dividend of $0.45 per share, resulting in a dividend yield of 4.44% and a payout ratio of 295.08%.

Potlatch (NASDAQ:PCH - Get Free Report) posted its earnings results on Monday. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.02, Zacks reports. Potlatch had a return on equity of 2.36% and a net margin of 4.35%. The business had revenue of $274.99 million during the quarter, compared to analyst estimates of $267.66 million. During the same quarter last year, the firm earned $0.17 earnings per share. The company's revenue for the quarter was down 14.2% compared to the same quarter last year.

Potlatch Stock Down 3.3%

Shares of PCH opened at $40.56 on Tuesday. The company has a market capitalization of $3.19 billion, a P/E ratio of 66.49 and a beta of 1.14. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.43 and a quick ratio of 1.04. Potlatch has a one year low of $36.82 and a one year high of $48.12. The business's 50 day simple moving average is $39.56 and its 200-day simple moving average is $41.44.

Potlatch Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were paid a $0.45 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.80 annualized dividend and a dividend yield of 4.44%. Potlatch's dividend payout ratio is currently 295.08%.

Analyst Ratings Changes

Several brokerages recently issued reports on PCH. Citigroup reissued 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. Truist Financial upgraded Potlatch from a "hold" rating to a "buy" rating and lifted their target price for the stock from $44.00 to $52.00 in a report on Wednesday, July 16th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $50.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PCH. United Services Automobile Association acquired a new position in Potlatch during the 1st quarter worth $204,000. Focus Partners Wealth lifted its holdings in Potlatch by 8.9% during the 1st quarter. Focus Partners Wealth now owns 6,920 shares of the real estate investment trust's stock worth $312,000 after buying an additional 565 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Potlatch by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,814 shares of the real estate investment trust's stock worth $2,112,000 after buying an additional 1,598 shares in the last quarter. Jane Street Group LLC raised its position in shares of Potlatch by 319.3% during the 1st quarter. Jane Street Group LLC now owns 189,230 shares of the real estate investment trust's stock valued at $8,538,000 after acquiring an additional 144,101 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Potlatch by 6.4% during the 1st quarter. Millennium Management LLC now owns 370,422 shares of the real estate investment trust's stock valued at $16,713,000 after acquiring an additional 22,359 shares during the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

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.