Potlatch (NASDAQ:PCH) Rating Increased to Buy at Truist Financial

Truist Financial upgraded shares of Potlatch (NASDAQ:PCH - Free Report) from a hold rating to a buy rating in a research report released on Wednesday morning, Marketbeat reports. The firm currently has $52.00 target price on the real estate investment trust's stock, up from their previous target price of $44.00.

Separately, Citigroup restated a "buy" rating and issued a $47.00 target price (down previously from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $50.00.

Potlatch Stock Down 1.4%

Shares of PCH traded down $0.56 on Wednesday, reaching $40.09. The company's stock had a trading volume of 129,808 shares, compared to its average volume of 478,833. The company has a current ratio of 1.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.45. Potlatch has a twelve month low of $36.82 and a twelve month high of $48.12. The stock has a market capitalization of $3.15 billion, a PE ratio of 65.73 and a beta of 1.14. The firm has a fifty day moving average of $39.38 and a 200-day moving average of $41.32.

Potlatch (NASDAQ:PCH - Get Free Report) last posted its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.13. Potlatch had a net margin of 4.35% and a return on equity of 2.36%. The company had revenue of $268.26 million for the quarter, compared to analyst estimates of $243.68 million. The company's quarterly revenue was up 17.6% compared to the same quarter last year. Equities analysts predict that Potlatch will post 0.8 EPS for the current year.

Potlatch Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 yield of 4.49%. Potlatch's dividend payout ratio (DPR) is 295.08%.

Institutional Investors Weigh In On Potlatch

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in Potlatch by 41.6% in the 1st quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 254 shares during the last quarter. Capital Square LLC grew its position in shares of Potlatch by 0.8% during the 4th quarter. Capital Square LLC now owns 41,030 shares of the real estate investment trust's stock valued at $1,711,000 after acquiring an additional 337 shares during the period. GAMMA Investing LLC grew its position in shares of Potlatch by 61.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust's stock valued at $42,000 after acquiring an additional 411 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Potlatch by 168.1% during the 1st quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 417 shares during the period. Finally, Xponance Inc. grew its position in shares of Potlatch by 4.3% during the 4th quarter. Xponance Inc. now owns 10,706 shares of the real estate investment trust's stock valued at $420,000 after acquiring an additional 446 shares during the period. Hedge funds and other institutional investors own 86.06% of the company's stock.

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.