Potlatch Corporation (NASDAQ:PCH) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its stake in shares of Potlatch Corporation (NASDAQ:PCH) by 1.0% in the 1st quarter, HoldingsChannel reports. The firm owned 269,050 shares of the real estate investment trust’s stock after selling 2,648 shares during the period. New York State Common Retirement Fund’s holdings in Potlatch were worth $12,140,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. increased its position in Potlatch by 41.6% during the 1st quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 254 shares during the period. Capital Square LLC grew its holdings in shares of Potlatch by 0.8% in the 4th quarter. Capital Square LLC now owns 41,030 shares of the real estate investment trust’s stock worth $1,711,000 after acquiring an additional 337 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Potlatch by 168.1% in the 1st quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 417 shares during the period. Xponance Inc. lifted its stake in Potlatch by 4.3% in the 4th quarter. Xponance Inc. now owns 10,706 shares of the real estate investment trust’s stock valued at $420,000 after buying an additional 446 shares in the last quarter. Finally, Quarry LP lifted its stake in Potlatch by 224.2% in the 4th quarter. Quarry LP now owns 697 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 482 shares in the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Citigroup reaffirmed a “buy” rating and issued a $47.00 target price (down previously from $49.00) on shares of Potlatch in a research note on Tuesday, June 3rd. Truist Financial raised Potlatch from a “hold” rating to a “buy” rating and increased their target price for the stock from $44.00 to $52.00 in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $50.00.

Potlatch Trading Down 0.4%

Shares of NASDAQ:PCH opened at $40.64 on Friday. The stock has a market capitalization of $3.19 billion, a PE ratio of 66.62 and a beta of 1.14. The firm has a fifty day moving average price of $39.38 and a 200 day moving average price of $41.32. Potlatch Corporation has a 1 year low of $36.82 and a 1 year 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.

Potlatch (NASDAQ:PCH) last released 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 return on equity of 2.36% and a net margin of 4.35%. The business had revenue of $268.26 million for the quarter, compared to the consensus estimate of $243.68 million. Potlatch’s revenue for the quarter was up 17.6% on a year-over-year basis. Analysts expect that Potlatch Corporation will post 0.8 EPS for the current fiscal year.

Potlatch Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date was Friday, June 6th. Potlatch’s payout ratio is 295.08%.

Potlatch 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.