Potlatch (NASDAQ:PCH) Sees Large Volume Increase - Here's Why

Key Points

• Potlatch Corporation experienced a significant trading volume increase of 197% on Tuesday, with 1,574,750 shares traded compared to 530,269 shares the previous session.
• Analysts have adjusted their price targets for Potlatch, with Truist Financial lowering its target from $52.00 to $51.00, while Wall Street Zen downgraded the stock from "hold" to "sell."
• The company announced a $0.45 quarterly dividend paid on September 30th, representing an annualized payout of $1.80 with a yield of 4.4%, despite a high payout ratio of 339.62%.

Potlatch Corporation (NASDAQ:PCH - Get Free Report) saw strong trading volume on Tuesday . 1,574,750 shares traded hands during trading, an increase of 197% from the previous session's volume of 530,269 shares.The stock last traded at $41.33 and had previously closed at $41.64.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial reduced their price objective on Potlatch from $52.00 to $51.00 and set a "buy" rating on the stock in a research report on Monday. Wall Street Zen downgraded Potlatch from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Potlatch in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $49.67.

Potlatch Price Performance

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 stock has a 50 day moving average price of $41.85 and a two-hundred day moving average price of $40.46. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 77.57 and a beta of 1.10.

Potlatch (NASDAQ:PCH - Get Free Report) last issued its quarterly earnings data on Friday, May 6th. The real estate investment trust reported $1.94 earnings per share for the quarter. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The business had revenue of $354.19 million during the quarter. As a group, analysts expect that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.4%. Potlatch's payout ratio is presently 339.62%.

Institutional Investors Weigh In On Potlatch

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in Potlatch by 6,678.1% during the 1st quarter. GAMMA Investing LLC now owns 30,366 shares of the real estate investment trust's stock worth $1,370,000 after purchasing an additional 29,918 shares in the last quarter. UMB Bank n.a. grew its holdings in Potlatch by 41.6% during the 1st 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 in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Potlatch by 168.1% during the 1st 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 in the last quarter. SG Americas Securities LLC acquired a new position in Potlatch during the 1st quarter worth approximately $1,183,000. Finally, Fifth Third Bancorp boosted its position in shares of Potlatch by 67.1% during the 1st quarter. Fifth Third Bancorp now owns 1,893 shares of the real estate investment trust's stock worth $85,000 after acquiring an additional 760 shares in the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.

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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