Potlatch (NASDAQ:PCH) Cut to Underperform at Bank of America

Bank of America lowered shares of Potlatch (NASDAQ:PCH) from a buy rating to an underperform rating in a report released on Monday morning, Marketbeat reports. Bank of America currently has $46.00 target price on the real estate investment trust’s stock, down from their previous target price of $49.00.

A number of other equities analysts also recently weighed in on PCH. Truist Financial cut their price target on shares of Potlatch from $52.00 to $51.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Potlatch in a research report on Wednesday, October 8th. Citigroup reduced their target price on shares of Potlatch from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. DA Davidson restated a “neutral” rating and set a $40.00 price target (down previously from $54.00) on shares of Potlatch in a research note on Thursday, November 13th. Finally, Zacks Research cut shares of Potlatch from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.43.

Potlatch Price Performance

Shares of NASDAQ PCH opened at $38.49 on Monday. The company has a market capitalization of $2.97 billion, a PE ratio of 72.62 and a beta of 1.11. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $40.86 and its 200-day moving average price is $40.61. Potlatch has a twelve month low of $36.82 and a twelve month high of $48.12.

Potlatch (NASDAQ:PCH) last issued its quarterly earnings results on Friday, May 6th. The real estate investment trust reported $1.94 EPS for the quarter. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The business had revenue of $354.19 million for the quarter. On average, equities analysts anticipate that Potlatch will post 0.8 EPS for the current year.

Potlatch Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.45 dividend. The ex-dividend date was Monday, September 15th. This represents a $1.80 annualized dividend and a dividend yield of 4.7%. Potlatch’s dividend payout ratio (DPR) is presently 219.51%.

Institutional Trading of Potlatch

A number of institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. raised its holdings in Potlatch by 9.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 36,674 shares of the real estate investment trust’s stock valued at $1,655,000 after acquiring an additional 3,126 shares during the period. Cerity Partners LLC grew its position in shares of Potlatch by 25.2% in the first quarter. Cerity Partners LLC now owns 26,915 shares of the real estate investment trust’s stock valued at $1,214,000 after purchasing an additional 5,422 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new position in shares of Potlatch in the first quarter valued at $266,000. Kennondale Capital Management LLC bought a new stake in shares of Potlatch during the 1st quarter valued at $206,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Potlatch during the 1st quarter worth about $2,293,000. 86.06% of the stock is currently owned by hedge funds and other 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.