Potlatch (NASDAQ:PCH) Given New $44.00 Price Target at Truist Financial

Potlatch (NASDAQ:PCH - Free Report) had its target price increased by Truist Financial from $42.00 to $44.00 in a research note released on Friday morning,Benzinga reports. They currently have a hold rating on the real estate investment trust's stock.

Separately, Citigroup reaffirmed a "buy" rating and set a $47.00 price target (down from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $48.86.

Potlatch Stock Performance

PCH traded down $0.09 on Friday, hitting $40.50. 416,509 shares of the stock traded hands, compared to its average volume of 479,791. Potlatch has a 52 week low of $36.82 and a 52 week high of $48.12. The company has a current ratio of 1.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $3.18 billion, a PE ratio of 66.39 and a beta of 1.14. The business has a fifty day moving average price of $39.18 and a two-hundred day moving average price of $41.31.

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

Potlatch Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given 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%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Potlatch by 61.1% during the second quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 411 shares in the last quarter. UMB Bank n.a. lifted its holdings in Potlatch by 32.3% during the second quarter. UMB Bank n.a. now owns 1,143 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 279 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Potlatch during the second quarter worth about $292,000. Swedbank AB bought a new position in Potlatch during the second quarter worth about $7,278,000. Finally, Strs Ohio bought a new position in Potlatch during the first quarter worth about $659,000. 86.06% of the stock is currently owned by institutional investors.

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.