Fifth Third Bancorp Boosts Stock Position in Potlatch Corporation (NASDAQ:PCH)

Fifth Third Bancorp lifted its position in shares of Potlatch Corporation (NASDAQ:PCH) by 67.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,893 shares of the real estate investment trust’s stock after purchasing an additional 760 shares during the period. Fifth Third Bancorp’s holdings in Potlatch were worth $85,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Quarry LP lifted its holdings in Potlatch by 224.2% in the 4th quarter. Quarry LP now owns 697 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 482 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Potlatch by 168.1% in the first 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. UMB Bank n.a. lifted its stake in Potlatch by 41.6% in the first quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 254 shares during the period. Sterling Capital Management LLC lifted its stake in Potlatch by 806.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,503 shares of the real estate investment trust’s stock worth $98,000 after acquiring an additional 2,227 shares during the period. Finally, GeoWealth Management LLC purchased a new stake in Potlatch in the fourth quarter worth $131,000. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Potlatch Trading Up 0.2%

Shares of NASDAQ PCH opened at $38.42 on Friday. The firm has a 50-day moving average of $38.96 and a 200 day moving average of $41.51. Potlatch Corporation has a 1 year low of $36.82 and a 1 year high of $48.12. The stock has a market cap of $3.02 billion, a P/E ratio of 62.98 and a beta of 1.17. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.43 and a quick ratio of 1.04.

Potlatch (NASDAQ:PCH) last released its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.13. The firm had revenue of $268.26 million during the quarter, compared to analyst estimates of $243.68 million. Potlatch had a net margin of 4.35% and a return on equity of 2.36%. The firm’s revenue was up 17.6% compared to the same quarter last year. As a group, sell-side analysts expect that Potlatch Corporation will post 0.8 EPS for the current fiscal year.

Potlatch Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Friday, June 6th. Potlatch’s dividend payout ratio is presently 295.08%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PCH. Citigroup reaffirmed a “buy” rating and issued a $47.00 target price (down from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Truist Financial lowered their price objective on shares of Potlatch from $44.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Potlatch has a consensus rating of “Moderate Buy” and a consensus target price of $48.57.

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.