Principal Financial Group Inc. Has $7.52 Million Stock Position in Potlatch Corporation (NASDAQ:PCH)

Principal Financial Group Inc. boosted its stake in shares of Potlatch Corporation (NASDAQ:PCHFree Report) by 1.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 166,650 shares of the real estate investment trust’s stock after buying an additional 1,624 shares during the period. Principal Financial Group Inc. owned approximately 0.21% of Potlatch worth $7,519,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Potlatch during the 4th quarter valued at $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 Potlatch by 12.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,404,064 shares of the real estate investment trust’s stock valued at $94,360,000 after purchasing an additional 260,674 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in Potlatch by 17.5% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,359,832 shares of the real estate investment trust’s stock valued at $92,623,000 after purchasing an additional 351,777 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its holdings in shares of Potlatch by 1.4% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,413,351 shares of the real estate investment trust’s stock worth $55,474,000 after buying an additional 19,521 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Potlatch Trading Down 1.6%

Shares of PCH opened at $39.84 on Wednesday. The business has a 50-day moving average of $39.27 and a 200 day moving average of $41.31. Potlatch Corporation has a fifty-two week low of $36.82 and a fifty-two week high of $48.12. The firm has a market cap of $3.13 billion, a P/E ratio of 65.31 and a beta of 1.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.04 and a current ratio of 1.43.

Potlatch (NASDAQ:PCHGet Free Report) last issued its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $243.68 million. The company’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, research analysts forecast that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.80 dividend on an annualized basis and a yield of 4.52%. Potlatch’s dividend payout ratio (DPR) is currently 295.08%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PCH shares. Citigroup reiterated 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 lifted their target price on shares of Potlatch from $42.00 to $44.00 and gave the stock a “hold” rating in a research report on Friday, July 11th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.86.

View Our Latest Analysis on Potlatch

Potlatch Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Potlatch (NASDAQ:PCH)

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