BidaskClub upgraded shares of Potlatch (NASDAQ:PCH) from a strong sell rating to a sell rating in a research note issued to investors on Thursday.
Other equities analysts also recently issued research reports about the stock. Vertical Research downgraded shares of Potlatch from a hold rating to a sell rating in a research note on Wednesday, October 4th. Bank of America boosted their price target on shares of Potlatch from $50.00 to $54.00 and gave the stock an underperform rating in a research note on Wednesday, October 25th. BMO Capital Markets restated a hold rating on shares of Potlatch in a research note on Monday, October 23rd. Zacks Investment Research upgraded shares of Potlatch from a hold rating to a strong-buy rating and set a $59.00 price target for the company in a research note on Thursday, October 26th. Finally, DA Davidson boosted their price target on shares of Potlatch to $47.00 and gave the stock an underperform rating in a research note on Tuesday, October 24th. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $48.60.
Shares of Potlatch (NASDAQ PCH) traded down $1.70 during midday trading on Thursday, reaching $50.05. The company’s stock had a trading volume of 739,600 shares, compared to its average volume of 557,500. The stock has a market capitalization of $2,101.61, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 3.97 and a beta of 1.44. The company has a current ratio of 2.17, a quick ratio of 1.72 and a debt-to-equity ratio of 2.92. Potlatch has a 52 week low of $39.05 and a 52 week high of $56.35.
Potlatch (NASDAQ:PCH) last posted its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.06. The business had revenue of $190.40 million during the quarter, compared to the consensus estimate of $187.29 million. Potlatch had a net margin of 13.54% and a return on equity of 54.42%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. analysts predict that Potlatch will post 2.39 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 8th were paid a $0.40 dividend. This is an increase from Potlatch’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $1.60 annualized dividend and a dividend yield of 3.20%. Potlatch’s payout ratio is 73.73%.
In related news, VP William R. Dereu sold 4,720 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $52.50, for a total transaction of $247,800.00. Following the completion of the transaction, the vice president now owns 26,142 shares in the company, valued at $1,372,455. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.52% of the company’s stock.
Several hedge funds have recently modified their holdings of PCH. Schwab Charles Investment Management Inc. grew its stake in shares of Potlatch by 4.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 246,854 shares of the real estate investment trust’s stock worth $11,282,000 after purchasing an additional 10,183 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Potlatch by 4.4% during the second quarter. SG Americas Securities LLC now owns 9,893 shares of the real estate investment trust’s stock worth $452,000 after purchasing an additional 413 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Potlatch by 21.4% during the second quarter. Legal & General Group Plc now owns 31,821 shares of the real estate investment trust’s stock worth $1,454,000 after purchasing an additional 5,606 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new position in shares of Potlatch during the second quarter worth $590,000. Finally, Prudential Financial Inc. grew its stake in shares of Potlatch by 394.5% during the second quarter. Prudential Financial Inc. now owns 144,538 shares of the real estate investment trust’s stock worth $6,605,000 after purchasing an additional 115,306 shares in the last quarter. Hedge funds and other institutional investors own 84.79% of the company’s stock.
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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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