State of New Jersey Common Pension Fund D Raises Position in Potlatch Corporation $PCH

State of New Jersey Common Pension Fund D increased its holdings in Potlatch Corporation (NASDAQ:PCH) by 14.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,061 shares of the real estate investment trust’s stock after purchasing an additional 6,309 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Potlatch worth $1,882,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Costello Asset Management INC purchased a new position in Potlatch in the 1st quarter worth $30,000. GAMMA Investing LLC raised its position in 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 purchasing an additional 411 shares during the period. UMB Bank n.a. increased its position in shares of Potlatch by 32.3% in the second quarter. UMB Bank n.a. now owns 1,143 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 279 shares during the period. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Potlatch in the first quarter valued at about $52,000. Finally, Quarry LP increased its position in shares of Potlatch by 70.9% in 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 period. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Potlatch Trading Down 1.3%

Shares of PCH opened at $40.00 on Friday. The firm’s 50-day moving average price is $41.49 and its 200-day moving average price is $40.56. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 75.47 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47. Potlatch Corporation has a 1-year low of $36.82 and a 1-year high of $48.12.

Potlatch (NASDAQ:PCH) last announced its earnings results on Friday, May 6th. The real estate investment trust reported $1.94 earnings per share for the quarter. The firm had revenue of $354.19 million for the quarter. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. Sell-side analysts anticipate that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Dividend Announcement

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. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.80 annualized dividend and a yield of 4.5%. Potlatch’s payout ratio is presently 339.62%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Zacks Research cut shares of Potlatch from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Citigroup restated a “neutral” rating and issued a $45.00 price objective (down previously from $49.00) on shares of Potlatch in a research report on Wednesday, October 15th. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Potlatch from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Finally, Truist Financial decreased their price objective on shares of Potlatch from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $49.20.

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.