Congress Asset Management Co. Raises Stock Holdings in Potlatch Corporation $PCH

Congress Asset Management Co. increased its stake in shares of Potlatch Corporation (NASDAQ:PCH) by 2.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,984 shares of the real estate investment trust’s stock after purchasing an additional 3,801 shares during the quarter. Congress Asset Management Co. owned approximately 0.20% of Potlatch worth $6,177,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted its position in shares of Potlatch by 41.6% during the first quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 254 shares during the last quarter. GAMMA Investing LLC lifted its position in Potlatch by 61.1% during the second quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 411 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Potlatch by 168.1% during the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 417 shares during the last quarter. Quarry LP lifted its position in Potlatch by 70.9% during the first quarter. Quarry LP now owns 1,191 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 494 shares during the last quarter. Finally, Focus Partners Wealth lifted its position in Potlatch by 8.9% during the first quarter. Focus Partners Wealth now owns 6,920 shares of the real estate investment trust’s stock valued at $312,000 after acquiring an additional 565 shares during the last quarter. 86.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wall Street Zen lowered Potlatch from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Citigroup reiterated a “buy” rating and issued a $47.00 price target (down from $49.00) on shares of Potlatch in a research note on Tuesday, June 3rd. Finally, Truist Financial upgraded Potlatch from a “hold” rating to a “buy” rating and increased their price target for the company from $44.00 to $52.00 in a research note on Wednesday, July 16th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $49.83.

Potlatch Stock Up 2.1%

Shares of PCH stock opened at $40.18 on Friday. Potlatch Corporation has a fifty-two week low of $36.82 and a fifty-two week high of $48.12. The stock’s 50-day simple moving average is $41.78 and its 200-day simple moving average is $40.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.13. The firm has a market capitalization of $3.11 billion, a PE ratio of 75.81 and a beta of 1.12.

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

Potlatch Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, September 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.5%. Potlatch’s dividend payout ratio (DPR) is presently 339.62%.

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.