Insider Selling: Potlatch (NASDAQ:PCH) VP Sells $128,923.74 in Stock

Potlatch Corporation (NASDAQ:PCH) VP William Dereu sold 3,278 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $39.33, for a total transaction of $128,923.74. Following the completion of the transaction, the vice president owned 73,845 shares of the company’s stock, valued at $2,904,323.85. This represents a 4.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Potlatch Stock Up 0.7%

PCH stock opened at $40.03 on Friday. The firm’s 50-day moving average is $40.18 and its two-hundred day moving average is $40.76. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 48.81 and a beta of 1.10. Potlatch Corporation has a 52 week low of $36.82 and a 52 week high of $48.12. The company has a current ratio of 1.96, a quick ratio of 1.26 and a debt-to-equity ratio of 0.53.

Potlatch (NASDAQ:PCH) last posted its quarterly earnings data on Friday, May 6th. The real estate investment trust reported $1.94 EPS for the quarter. Potlatch had a net margin of 5.76% and a return on equity of 3.38%. The business had revenue of $354.19 million for the quarter. On average, analysts forecast that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Potlatch Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, December 15th. Potlatch’s payout ratio is currently 219.51%.

Institutional Trading of Potlatch

Several institutional investors and hedge funds have recently bought and sold shares of PCH. CIBC Private Wealth Group LLC lifted its stake in Potlatch by 216.6% during the third quarter. CIBC Private Wealth Group LLC now owns 1,184 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 810 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Potlatch during the third quarter valued at approximately $341,000. Adelante Capital Management LLC lifted its position in shares of Potlatch by 9.7% in the 3rd quarter. Adelante Capital Management LLC now owns 53,345 shares of the real estate investment trust’s stock valued at $2,174,000 after acquiring an additional 4,723 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Potlatch by 8.8% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 42,825 shares of the real estate investment trust’s stock worth $1,724,000 after purchasing an additional 3,456 shares during the period. Finally, Verition Fund Management LLC grew its position in Potlatch by 200.3% during the 3rd quarter. Verition Fund Management LLC now owns 94,116 shares of the real estate investment trust’s stock worth $3,835,000 after purchasing an additional 62,774 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company’s stock.

Wall Street Analysts Forecast Growth

PCH has been the topic of a number of research analyst reports. Bank of America lowered Potlatch from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $49.00 to $46.00 in a report on Monday, November 17th. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research report on Wednesday, October 8th. Truist Financial lowered their price objective 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. Citigroup dropped their target price on shares of Potlatch from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Finally, DA Davidson restated a “neutral” rating and set a $40.00 target price (down from $54.00) on shares of Potlatch in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Potlatch has an average rating of “Hold” and an average target price of $45.80.

About Potlatch

PotlatchDeltic Corporation, which trades on the NASDAQ under the ticker PCH, is a real estate investment trust (REIT) specializing in the ownership and sustainable management of timberland. Headquartered in Spokane, Washington, the company holds approximately two million acres of forested land across the United States. Its integrated business model combines timberland stewardship with manufacturing and marketing of wood products to serve residential, agricultural and industrial markets.

In its timberland segment, PotlatchDeltic focuses on responsible forest management practices, including reforestation, habitat conservation and wildfire mitigation.