Potlatch (NASDAQ:PCH) Price Target Lowered to $51.00 at Truist Financial

Potlatch (NASDAQ:PCH) had its target price reduced by Truist Financial from $52.00 to $51.00 in a research report released on Monday morning, MarketBeat.com reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

A number of other analysts have also recently issued reports on the company. Wall Street Zen cut Potlatch from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Potlatch in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.67.

Potlatch Price Performance

PCH opened at $41.64 on Monday. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 78.57 and a beta of 1.10. Potlatch has a 1 year low of $36.82 and a 1 year high of $48.12. 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 fifty day moving average price of $41.85 and a 200 day moving average price of $40.46.

Potlatch (NASDAQ:PCH) last released its quarterly earnings data on Friday, May 6th. The real estate investment trust reported $1.94 earnings per share (EPS) for the quarter. The firm had revenue of $354.19 million during the quarter. Potlatch had a return on equity of 2.10% and a net margin of 3.94%. Analysts forecast that Potlatch will post 0.8 EPS for the current fiscal year.

Potlatch Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.3%. Potlatch’s payout ratio is currently 339.62%.

Institutional Trading of Potlatch

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. lifted its position in shares of Potlatch by 168.1% in the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 417 shares during the last quarter. Costello Asset Management INC acquired a new position in shares of Potlatch during the 1st quarter worth about $30,000. UMB Bank n.a. lifted its position in shares of Potlatch by 41.6% during the 1st quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 254 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Potlatch by 61.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 411 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Potlatch during the 1st quarter worth about $52,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

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.