Brokerages Set Potlatch Corporation (NASDAQ:PCH) Price Target at $48.57

Shares of Potlatch Corporation (NASDAQ:PCH - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $48.57.

PCH has been the topic of several recent analyst reports. Citigroup reaffirmed a "buy" rating and set a $47.00 price objective (down from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. Truist Financial lowered their price objective on Potlatch from $44.00 to $42.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP grew its stake in shares of Potlatch by 224.2% during the fourth quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 482 shares during the last quarter. Harbor Capital Advisors Inc. grew 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 valued at $30,000 after buying an additional 417 shares in the last quarter. Costello Asset Management INC acquired a new position in Potlatch during the first quarter worth approximately $30,000. UMB Bank n.a. increased its holdings 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 valued at $39,000 after purchasing an additional 254 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in Potlatch in the 1st quarter valued at $52,000. 86.06% of the stock is owned by institutional investors.

Potlatch Stock Performance

NASDAQ PCH traded up $0.64 on Monday, hitting $38.35. 529,650 shares of the company traded hands, compared to its average volume of 475,844. 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 52-week low of $36.82 and a 52-week high of $48.12. The business's 50 day moving average price is $38.97 and its 200-day moving average price is $41.54. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 62.87 and a beta of 1.17.

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

Potlatch Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Friday, June 6th. Potlatch's dividend payout ratio is presently 295.08%.

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.