Charles Schwab Investment Management Inc. Increases Stock Holdings in Potlatch Corporation (NASDAQ:PCH)

Charles Schwab Investment Management Inc. lifted its stake in shares of Potlatch Corporation (NASDAQ:PCH) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,560,123 shares of the real estate investment trust’s stock after buying an additional 17,352 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.98% of Potlatch worth $70,393,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of PCH. Harbor Capital Advisors Inc. raised its position in shares of Potlatch by 168.1% during the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 417 shares during the period. Costello Asset Management INC bought a new stake in shares of Potlatch during the 1st quarter worth about $30,000. Quarry LP boosted its stake in shares of Potlatch by 224.2% during the 4th quarter. Quarry LP now owns 697 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 482 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Potlatch by 41.6% during the 1st 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 in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in Potlatch during the 1st quarter valued at approximately $52,000. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Potlatch Price Performance

Shares of NASDAQ PCH opened at $43.78 on Friday. Potlatch Corporation has a twelve month low of $36.82 and a twelve month high of $48.12. The company has a market cap of $3.38 billion, a PE ratio of 82.60 and a beta of 1.12. The business’s 50 day moving average price is $40.53 and its two-hundred day moving average price is $41.52. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.47.

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

Analyst Ratings Changes

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

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.