PNC Financial Services Group Inc. Raises Stock Holdings in Potlatch Corporation (NASDAQ:PCH)

PNC Financial Services Group Inc. grew its stake in Potlatch Corporation (NASDAQ:PCH) by 9.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,548 shares of the real estate investment trust’s stock after acquiring an additional 1,547 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Potlatch were worth $792,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Potlatch by 1.0% in the first quarter. Principal Financial Group Inc. now owns 166,650 shares of the real estate investment trust’s stock valued at $7,519,000 after acquiring an additional 1,624 shares in the last quarter. First Horizon Advisors Inc. purchased a new stake in shares of Potlatch in the first quarter valued at $5,138,000. Cerity Partners LLC lifted 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 acquiring an additional 5,422 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Potlatch by 11.0% in the fourth quarter. Bank of America Corp DE now owns 745,033 shares of the real estate investment trust’s stock valued at $29,243,000 after acquiring an additional 73,781 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Potlatch in the first quarter valued at $1,183,000. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PCH has been the topic of several recent research reports. Wall Street Zen downgraded Potlatch from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Truist Financial upgraded Potlatch from a “hold” rating to a “buy” rating and upped their target price for the company from $44.00 to $52.00 in a research note on Wednesday, July 16th. Finally, Citigroup reiterated a “buy” rating and issued a $47.00 target price (down from $49.00) on shares of Potlatch in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Potlatch currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Potlatch Stock Performance

Potlatch stock opened at $42.04 on Tuesday. The firm has a market capitalization of $3.25 billion, a P/E ratio of 79.32 and a beta of 1.12. The stock has a fifty day moving average price of $40.24 and a 200 day moving average price of $41.49. Potlatch Corporation has a 52 week low of $36.82 and a 52 week high of $48.12. The company has a current ratio of 1.13, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47.

Potlatch (NASDAQ:PCH) last released its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $274.99 million for the quarter, compared to the consensus estimate of $267.66 million. Potlatch had a return on equity of 2.10% and a net margin of 3.94%. The company’s quarterly revenue was down 14.2% compared to the same quarter last year. During the same period last year, the business posted $0.17 EPS. Equities research analysts anticipate that Potlatch Corporation will post 0.8 earnings per share for the current year.

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.