Truist Financial Cuts Potlatch (NASDAQ:PCH) Price Target to $51.00

Potlatch (NASDAQ:PCH) had its price target reduced by Truist Financial from $52.00 to $51.00 in a research report sent to investors on Monday morning, Marketbeat reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

A number of other research analysts have also issued reports on the stock. Wall Street Zen cut shares of Potlatch from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Potlatch has a consensus rating of “Moderate Buy” and a consensus price target of $49.33.

Potlatch Price Performance

Potlatch stock opened at $41.15 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 0.75. The business has a 50 day simple moving average of $41.77 and a 200-day simple moving average of $40.47. Potlatch has a 12 month low of $36.82 and a 12 month high of $48.12. The stock has a market capitalization of $3.18 billion, a PE ratio of 77.64 and a beta of 1.10.

Potlatch (NASDAQ:PCH) last announced its quarterly earnings data on Friday, May 6th. The real estate investment trust reported $1.94 earnings per share (EPS) for the quarter. The company had revenue of $354.19 million for the quarter. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. Equities analysts predict that Potlatch will post 0.8 earnings per share for the current year.

Potlatch Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, September 15th. Potlatch’s payout ratio is 339.62%.

Hedge Funds Weigh In On Potlatch

Hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. lifted 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 in the last quarter. GAMMA Investing LLC raised its position in shares of Potlatch by 27.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,378 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 294 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Potlatch by 168.1% in the 1st 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. CWM LLC grew its holdings in Potlatch by 4.3% during the 3rd quarter. CWM LLC now owns 10,155 shares of the real estate investment trust’s stock valued at $414,000 after buying an additional 421 shares during the last quarter. Finally, Quarry LP increased its position in Potlatch by 70.9% during the first quarter. Quarry LP now owns 1,191 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 494 shares in the last quarter. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

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.