Potlatch (NASDAQ:PCH) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Potlatch's stock received a "hold (c)" rating from Weiss Ratings, while another analyst downgraded it to a "sell," indicating mixed sentiments regarding its current performance.
• The company reported earnings per share (EPS) of $0.09 for the last quarter, which surpassed analysts' expectations, although revenue showed a significant year-over-year decline of 14.2%.
• Potlatch has garnered a consensus rating of "Moderate Buy" with an average price target of $49.83, and it is significantly supported by institutional investors, who own 86.06% of the stock.

Potlatch (NASDAQ:PCH - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other analysts also recently issued reports about the company. 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 lifted their price target for the company from $44.00 to $52.00 in a research report on Wednesday, July 16th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Potlatch has a consensus rating of "Moderate Buy" and an average price target of $49.83.

Potlatch Stock Performance

NASDAQ:PCH opened at $42.44 on Wednesday. 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 business has a fifty day simple moving average of $41.86 and a two-hundred day simple moving average of $40.59. Potlatch has a 1 year low of $36.82 and a 1 year high of $48.12. The company has a market capitalization of $3.28 billion, a P/E ratio of 80.08 and a beta of 1.10.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 last year, the business posted $0.17 earnings per share. The business's revenue for the quarter was down 14.2% on a year-over-year basis. On average, analysts expect that Potlatch will post 0.8 earnings per share for the current year.

Hedge Funds Weigh In On Potlatch

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCH. Norges Bank purchased a new position in Potlatch during the second quarter worth about $217,543,000. Deutsche Bank AG grew its position in 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 buying 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% during 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 worth $39,547,000 after buying an additional 629,334 shares in the last quarter. Westwood Holdings Group Inc. grew its position in Potlatch by 19.8% during the second quarter. Westwood Holdings Group Inc. now owns 2,792,075 shares of the real estate investment trust's stock worth $107,132,000 after buying an additional 461,356 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Potlatch by 74.3% during the second quarter. Ameriprise Financial Inc. now owns 1,027,190 shares of the real estate investment trust's stock worth $39,413,000 after buying an additional 438,032 shares in the last quarter. 86.06% of the stock is currently owned by hedge funds and other 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.

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