UMB Bank n.a. Purchases 279 Shares of Potlatch Corporation $PCH

UMB Bank n.a. boosted its holdings in shares of Potlatch Corporation (NASDAQ:PCH) by 32.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,143 shares of the real estate investment trust’s stock after purchasing an additional 279 shares during the quarter. UMB Bank n.a.’s holdings in Potlatch were worth $44,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Potlatch in the 2nd quarter worth approximately $292,000. Swedbank AB bought a new position in Potlatch in the 2nd quarter worth approximately $7,278,000. Strs Ohio bought a new stake in Potlatch during the 1st quarter worth about $659,000. Focus Partners Wealth increased its holdings in Potlatch by 8.9% in the first quarter. Focus Partners Wealth now owns 6,920 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 565 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Potlatch by 319.3% in the 1st quarter. Jane Street Group LLC now owns 189,230 shares of the real estate investment trust’s stock valued at $8,538,000 after acquiring an additional 144,101 shares during the last quarter. Institutional investors own 86.06% of the company’s stock.

Wall Street Analysts Forecast Growth

PCH has been the subject of a number of analyst reports. Citigroup reaffirmed a “buy” rating and issued a $47.00 target price (down previously from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Wall Street Zen downgraded shares of Potlatch from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Finally, Truist Financial upgraded shares of 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. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $49.83.

Potlatch Stock Performance

NASDAQ PCH opened at $40.18 on Friday. The company has a market capitalization of $3.11 billion, a P/E ratio of 75.81 and a beta of 1.12. 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 Corporation has a 52-week low of $36.82 and a 52-week high of $48.12. The company has a fifty day moving average of $41.78 and a 200-day moving average of $40.77.

Potlatch (NASDAQ:PCH) last released 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. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The company had revenue of $274.99 million during the quarter, compared to analyst estimates of $267.66 million. During the same quarter in the previous year, the company posted $0.17 EPS. Potlatch’s revenue for the quarter was down 14.2% on a year-over-year basis. As a group, equities research analysts predict that Potlatch Corporation will post 0.8 EPS for the current fiscal year.

Potlatch Announces Dividend

The company also recently declared 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, September 15th. Potlatch’s payout ratio is currently 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.