Potlatch Corporation $PCH Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in shares of Potlatch Corporation (NASDAQ:PCH) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,007 shares of the real estate investment trust’s stock after selling 448 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Potlatch worth $1,764,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PCH. Harbor Capital Advisors Inc. boosted its stake 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 valued at $30,000 after acquiring an additional 417 shares during the last quarter. Costello Asset Management INC bought a new position in shares of Potlatch in the 1st quarter worth about $30,000. UMB Bank n.a. lifted its position in shares of Potlatch by 41.6% in the 1st 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. GAMMA Investing LLC lifted its position in shares of Potlatch by 61.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 411 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Potlatch in the 1st quarter worth about $52,000. 86.06% of the stock is currently owned by institutional investors.

Potlatch Stock Performance

Shares of PCH opened at $42.46 on Friday. The firm’s 50 day moving average is $41.81 and its 200-day moving average is $40.65. The stock has a market capitalization of $3.28 billion, a P/E ratio of 80.11 and a beta of 1.10. 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 Corporation has a 12-month low of $36.82 and a 12-month high of $48.12.

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, topping the consensus estimate of $0.07 by $0.02. The business had revenue of $274.99 million for the quarter, compared to the consensus estimate of $267.66 million. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. The firm’s quarterly revenue was down 14.2% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. Equities research analysts anticipate that Potlatch Corporation will post 0.8 EPS for the current fiscal year.

Potlatch Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Monday, September 15th. Potlatch’s dividend payout ratio (DPR) is currently 339.62%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research report on Saturday, September 27th. Truist Financial upgraded shares of Potlatch from a “hold” rating to a “buy” rating and raised their price target for the stock from $44.00 to $52.00 in a research report on Wednesday, July 16th. Finally, Wall Street Zen downgraded shares of Potlatch from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Potlatch has an average rating of “Moderate Buy” and a consensus price target of $49.83.

Potlatch Company 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.