Vanguard Group Inc. Has $491.46 Million Stake in Potlatch Corporation (NASDAQ:PCH)

Vanguard Group Inc. trimmed its holdings in shares of Potlatch Corporation (NASDAQ:PCH) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,892,276 shares of the real estate investment trust’s stock after selling 513,227 shares during the quarter. Vanguard Group Inc. owned about 13.83% of Potlatch worth $491,459,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. UMB Bank n.a. increased its position in Potlatch by 41.6% during the first quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 254 shares during the last quarter. Capital Square LLC raised its holdings in Potlatch by 0.8% in the 4th quarter. Capital Square LLC now owns 41,030 shares of the real estate investment trust’s stock worth $1,711,000 after acquiring an additional 337 shares during the period. Harbor Capital Advisors Inc. lifted its position in Potlatch by 168.1% during the 1st 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 last quarter. Quarry LP lifted its position in 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 during the last quarter. Finally, LPL Financial LLC lifted its position in Potlatch by 3.3% during the 4th quarter. LPL Financial LLC now owns 20,266 shares of the real estate investment trust’s stock worth $795,000 after acquiring an additional 654 shares during the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.

Potlatch Stock Performance

NASDAQ:PCH opened at $43.78 on Friday. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 82.60 and a beta of 1.12. The firm’s 50-day moving average is $40.53 and its 200-day moving average is $41.52. Potlatch Corporation has a 52-week low of $36.82 and a 52-week high of $48.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.13.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PCH shares. Wall Street Zen lowered shares of Potlatch from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Citigroup reissued a “buy” rating and set a $47.00 target price (down previously from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Finally, Truist Financial raised shares of Potlatch from a “hold” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $52.00 in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.00.

Potlatch 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.