Potlatch Corporation $PCH Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its stake in shares of Potlatch Corporation (NASDAQ:PCH) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,766 shares of the real estate investment trust’s stock after selling 1,095 shares during the period. Intech Investment Management LLC owned 0.07% of Potlatch worth $2,652,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in Potlatch by 1.0% during the first quarter. Principal Financial Group Inc. now owns 166,650 shares of the real estate investment trust’s stock worth $7,519,000 after purchasing an additional 1,624 shares during the last quarter. First Horizon Advisors Inc. acquired a new stake in Potlatch during the 1st quarter worth approximately $5,138,000. Cerity Partners LLC increased its position in Potlatch by 25.2% during the 1st quarter. Cerity Partners LLC now owns 26,915 shares of the real estate investment trust’s stock worth $1,214,000 after purchasing an additional 5,422 shares in the last quarter. Entropy Technologies LP acquired a new stake in Potlatch during the 1st quarter worth approximately $548,000. Finally, Bank of America Corp DE increased its position in Potlatch by 11.0% during the 4th quarter. Bank of America Corp DE now owns 745,033 shares of the real estate investment trust’s stock worth $29,243,000 after purchasing an additional 73,781 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on PCH shares. Wall Street Zen downgraded 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 increased their target price for the stock from $44.00 to $52.00 in a research report on Wednesday, July 16th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $49.83.

Potlatch Stock Performance

Potlatch stock opened at $41.34 on Monday. The stock has a market cap of $3.20 billion, a P/E ratio of 78.00 and a beta of 1.12. The company has a current ratio of 1.13, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average of $41.83 and a 200-day moving average of $41.13. Potlatch Corporation has a 52 week low of $36.82 and a 52 week high of $48.12.

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

Potlatch Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Monday, September 15th. Potlatch’s dividend payout ratio is 339.62%.

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.