272,622 Shares in Potlatch Corporation $PCH Bought by American Century Companies Inc.

American Century Companies Inc. acquired a new position in Potlatch Corporation (NASDAQ:PCH) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 272,622 shares of the real estate investment trust’s stock, valued at approximately $12,301,000. American Century Companies Inc. owned approximately 0.35% of Potlatch at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PCH. Russell Investments Group Ltd. grew its position in shares of Potlatch by 51.8% in the 1st quarter. Russell Investments Group Ltd. now owns 819,782 shares of the real estate investment trust’s stock worth $36,989,000 after buying an additional 279,654 shares during the period. Nuveen LLC bought a new stake in Potlatch during the first quarter worth about $10,503,000. Entropy Technologies LP purchased a new stake in Potlatch in the first quarter worth about $548,000. Headlands Technologies LLC grew its holdings in Potlatch by 22.2% in the first quarter. Headlands Technologies LLC now owns 14,102 shares of the real estate investment trust’s stock worth $636,000 after purchasing an additional 2,560 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Potlatch by 472.1% during the first quarter. Deutsche Bank AG now owns 908,253 shares of the real estate investment trust’s stock valued at $40,980,000 after purchasing an additional 749,491 shares in the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Potlatch Trading Down 0.9%

Potlatch stock opened at $43.41 on Tuesday. Potlatch Corporation has a one year low of $36.82 and a one year high of $48.12. The business’s fifty day moving average is $41.03 and its 200 day moving average is $41.42. The stock has a market capitalization of $3.36 billion, a PE ratio of 81.91 and a beta of 1.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 0.75.

Potlatch (NASDAQ:PCH) last posted its 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. 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 business’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. On average, sell-side analysts predict that Potlatch Corporation will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wall Street Zen cut 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 lifted their price objective for the company from $44.00 to $52.00 in a research note on Wednesday, July 16th. Finally, Citigroup reissued 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. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $50.00.

About Potlatch

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.