Potlatch (NASDAQ:PCH) Downgraded by Bank of America to Underperform

Bank of America lowered shares of Potlatch (NASDAQ:PCH) from a buy rating to an underperform rating in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has $46.00 price target on the real estate investment trust’s stock, down from their previous price target of $49.00.

Several other equities research analysts have also commented on PCH. Wall Street Zen lowered Potlatch from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Royal Bank Of Canada reissued a “sector perform” rating and set a $48.00 price target on shares of Potlatch in a report on Monday, November 10th. DA Davidson restated a “neutral” rating and set a $40.00 price target (down previously from $54.00) on shares of Potlatch in a research report on Thursday, November 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Potlatch in a research report on Wednesday, October 8th. Finally, Truist Financial lowered their target price on shares of Potlatch from $52.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.43.

Potlatch Stock Down 2.3%

Shares of PCH stock opened at $38.42 on Monday. The stock’s fifty day moving average price is $40.99 and its 200 day moving average price is $40.63. Potlatch has a 1-year low of $36.82 and a 1-year high of $48.12. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 72.49 and a beta of 1.11. 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 (NASDAQ:PCH) last posted its quarterly earnings results on Friday, May 6th. The real estate investment trust reported $1.94 earnings per share (EPS) for the quarter. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. The business had revenue of $354.19 million during the quarter. On average, research analysts expect that Potlatch will post 0.8 earnings per share 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 given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Monday, September 15th. Potlatch’s dividend payout ratio is 219.51%.

Institutional Investors Weigh In On Potlatch

Several large investors have recently bought and sold shares of the company. Coastline Trust Co acquired a new position in shares of Potlatch during the third quarter valued at approximately $26,000. Costello Asset Management INC acquired a new position in Potlatch in the 1st quarter valued at $30,000. Hantz Financial Services Inc. lifted its holdings in Potlatch by 611.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 719 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 618 shares in the last quarter. GAMMA Investing LLC boosted its stake 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 purchasing an additional 411 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Potlatch by 32.3% during the 2nd quarter. UMB Bank n.a. now owns 1,143 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 279 shares during the last quarter. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

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.