GAMMA Investing LLC Increases Position in Potlatch Corporation $PCH

GAMMA Investing LLC increased its stake in shares of Potlatch Corporation (NASDAQ:PCH) by 61.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,084 shares of the real estate investment trust’s stock after buying an additional 411 shares during the quarter. GAMMA Investing LLC’s holdings in Potlatch were worth $42,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCH. Deutsche Bank AG lifted its position in 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Potlatch by 254.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 876,480 shares of the real estate investment trust’s stock valued at $39,547,000 after purchasing an additional 629,334 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in Potlatch during the first quarter valued at $19,176,000. Russell Investments Group Ltd. lifted its position in Potlatch by 51.8% during the first quarter. Russell Investments Group Ltd. now owns 819,782 shares of the real estate investment trust’s stock valued at $36,989,000 after purchasing an additional 279,654 shares during the period. Finally, AQR Capital Management LLC lifted its position in Potlatch by 130.0% during the first quarter. AQR Capital Management LLC now owns 485,689 shares of the real estate investment trust’s stock valued at $21,691,000 after purchasing an additional 274,535 shares during the period. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research 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. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research report on Saturday, September 27th. Finally, Truist Financial upgraded shares of Potlatch from a “hold” rating to a “buy” rating and upped their price objective for the stock from $44.00 to $52.00 in a research report on Wednesday, July 16th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Potlatch currently has a consensus rating of “Moderate Buy” and an average target price of $49.83.

Potlatch Stock Up 0.4%

PCH opened at $42.46 on Friday. Potlatch Corporation has a twelve month low of $36.82 and a twelve month high of $48.12. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $41.81 and a 200 day moving average price of $40.62. The company has a market cap of $3.28 billion, a PE ratio of 80.11 and a beta of 1.10.

Potlatch (NASDAQ:PCH) last announced its quarterly earnings data 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. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. The company had revenue of $274.99 million during the quarter, compared to analysts’ expectations of $267.66 million. During the same quarter in the prior year, the company earned $0.17 EPS. Potlatch’s revenue was down 14.2% compared to the same quarter last year. Sell-side analysts expect that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Potlatch Announces Dividend

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