Teacher Retirement System of Texas Has $1.30 Million Position in Potlatch Corporation $PCH

Teacher Retirement System of Texas boosted its holdings in Potlatch Corporation (NASDAQ:PCH) by 72.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,887 shares of the real estate investment trust’s stock after purchasing an additional 14,205 shares during the quarter. Teacher Retirement System of Texas’ holdings in Potlatch were worth $1,300,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. UMB Bank n.a. grew its position in Potlatch by 32.3% in the 2nd quarter. UMB Bank n.a. now owns 1,143 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 279 shares during the period. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 411 shares during the last quarter. Quarry LP boosted its holdings in Potlatch by 70.9% during the 1st quarter. Quarry LP now owns 1,191 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 494 shares during the last quarter. Focus Partners Wealth boosted its holdings in Potlatch by 8.9% during the 1st quarter. Focus Partners Wealth now owns 6,920 shares of the real estate investment trust’s stock worth $312,000 after acquiring an additional 565 shares during the last quarter. Finally, MGO One Seven LLC boosted its holdings in Potlatch by 10.1% during the 2nd quarter. MGO One Seven LLC now owns 6,470 shares of the real estate investment trust’s stock worth $248,000 after acquiring an additional 591 shares during the last quarter. Institutional investors and hedge funds own 86.06% of the company’s stock.

Analyst Ratings Changes

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

Potlatch Price Performance

Shares of NASDAQ:PCH opened at $39.45 on Thursday. The company’s 50-day moving average is $41.28 and its 200 day moving average is $40.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.13. The company has a market capitalization of $3.05 billion, a P/E ratio of 74.43 and a beta of 1.11. Potlatch Corporation has a fifty-two week low of $36.82 and a fifty-two week high of $48.12.

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

Potlatch Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Monday, September 15th. Potlatch’s payout ratio is currently 219.51%.

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.