Raymond James Financial, Inc. downgraded shares of Potlatch Corporation (NASDAQ:PCH) from an outperform rating to a market perform rating in a report released on Tuesday, June 27th, Marketbeat reports.
Other equities analysts have also issued research reports about the company. Zacks Investment Research upgraded Potlatch Corporation from a hold rating to a buy rating and set a $52.00 price target for the company in a research report on Wednesday, April 5th. Vertical Research upgraded Potlatch Corporation from a sell rating to a hold rating in a research report on Thursday, May 4th. UBS AG lowered Potlatch Corporation from an outperform rating to a market perform rating in a research report on Tuesday, June 27th. BMO Capital Markets reaffirmed a market perform rating and set a $40.00 price target (up from $36.00) on shares of Potlatch Corporation in a research note on Monday, February 27th. Finally, Royal Bank Of Canada downgraded Potlatch Corporation from an outperform rating to a sector perform rating and raised their price target for the stock from $45.00 to $47.00 in a research note on Wednesday, April 19th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. Potlatch Corporation has a consensus rating of Hold and an average target price of $45.00.
Potlatch Corporation (PCH) opened at 46.25 on Tuesday. The company’s 50 day moving average is $45.81 and its 200-day moving average is $44.30. The stock has a market capitalization of $1.88 billion, a PE ratio of 68.42 and a beta of 1.41. Potlatch Corporation has a 1-year low of $34.22 and a 1-year high of $48.85.
Potlatch Corporation (NASDAQ:PCH) last issued its earnings results on Wednesday, April 26th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.16. The firm had revenue of $149.70 million for the quarter, compared to analyst estimates of $137.66 million. Potlatch Corporation had a return on equity of 42.10% and a net margin of 4.46%. Potlatch Corporation’s quarterly revenue was up 17.0% compared to the same quarter last year. Analysts forecast that Potlatch Corporation will post $2.10 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Wednesday, June 7th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Monday, June 5th. Potlatch Corporation’s payout ratio is presently 223.88%.
Several hedge funds have recently made changes to their positions in the company. Flinton Capital Management LLC raised its stake in shares of Potlatch Corporation by 28.3% in the first quarter. Flinton Capital Management LLC now owns 2,618 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 578 shares in the last quarter. Sit Investment Associates Inc. raised its stake in shares of Potlatch Corporation by 115.0% in the first quarter. Sit Investment Associates Inc. now owns 4,300 shares of the real estate investment trust’s stock valued at $197,000 after buying an additional 2,300 shares in the last quarter. Worth Venture Partners LLC bought a new stake in shares of Potlatch Corporation during the first quarter valued at approximately $204,000. First City Capital Management Inc. bought a new stake in shares of Potlatch Corporation during the first quarter valued at approximately $206,000. Finally, Confluence Investment Management LLC bought a new stake in shares of Potlatch Corporation during the first quarter valued at approximately $211,000. 83.39% of the stock is currently owned by institutional investors.
Potlatch Corporation Company Profile
Potlatch Corporation is a real estate investment trust (REIT), which is primarily engaged in activities associated with timberland management, including the sale of timber, management of timberlands, and purchase and sale of timberlands. The Company is also engaged in the manufacture and sale of wood products.
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