Teacher Retirement System of Texas Buys Shares of 19,682 Potlatch Corporation (NASDAQ:PCH)

Teacher Retirement System of Texas acquired a new position in shares of Potlatch Corporation (NASDAQ:PCH) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 19,682 shares of the real estate investment trust’s stock, valued at approximately $888,000.

Several other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Potlatch during the fourth quarter valued at approximately $217,145,000. Legal & General Group Plc lifted its holdings in Potlatch by 4.0% during the 4th quarter. Legal & General Group Plc now owns 2,498,762 shares of the real estate investment trust’s stock valued at $98,076,000 after purchasing an additional 95,485 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Potlatch by 12.2% during the fourth quarter. Westwood Holdings Group Inc. now owns 2,404,064 shares of the real estate investment trust’s stock worth $94,360,000 after buying an additional 260,674 shares in the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of Potlatch by 17.5% during the fourth quarter. Deprince Race & Zollo Inc. now owns 2,359,832 shares of the real estate investment trust’s stock worth $92,623,000 after buying an additional 351,777 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its stake in Potlatch by 1.4% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,413,351 shares of the real estate investment trust’s stock valued at $55,474,000 after purchasing an additional 19,521 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company’s stock.

Potlatch Price Performance

Shares of NASDAQ:PCH opened at $40.50 on Tuesday. Potlatch Corporation has a twelve month low of $36.82 and a twelve month high of $48.12. The stock has a market capitalization of $3.18 billion, a PE ratio of 66.39 and a beta of 1.14. The firm’s 50 day moving average price is $39.18 and its 200-day moving average price is $41.31. The company has a quick ratio of 1.04, a current ratio of 1.43 and a debt-to-equity ratio of 0.45.

Potlatch (NASDAQ:PCH) last announced its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.33 EPS for the quarter, beating the consensus estimate of $0.20 by $0.13. The company had revenue of $268.26 million for the quarter, compared to the consensus estimate of $243.68 million. Potlatch had a return on equity of 2.36% and a net margin of 4.35%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. Equities research analysts expect that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Friday, June 6th. Potlatch’s payout ratio is 295.08%.

Analysts Set New Price Targets

Several research analysts recently issued reports on PCH shares. Citigroup reaffirmed a “buy” rating and set a $47.00 target price (down from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Truist Financial raised their target price on Potlatch from $42.00 to $44.00 and gave the company a “hold” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Potlatch has a consensus rating of “Moderate Buy” and an average price target of $48.86.

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.