Potlatch (NASDAQ:PCH) VP Sells $162,191.10 in Stock

Potlatch Corporation (NASDAQ:PCH) VP Darin Robert Ball sold 4,127 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $39.30, for a total value of $162,191.10. Following the transaction, the vice president directly owned 49,054 shares in the company, valued at $1,927,822.20. The trade was a 7.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Potlatch Stock Performance

NASDAQ PCH opened at $40.03 on Friday. The company has a fifty day simple moving average of $40.18 and a 200 day simple moving average of $40.76. Potlatch Corporation has a 12-month low of $36.82 and a 12-month 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. The company has a market cap of $3.09 billion, a P/E ratio of 48.81 and a beta of 1.10.

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

Potlatch Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.80 annualized dividend and a yield of 4.5%. Potlatch’s dividend payout ratio (DPR) is presently 219.51%.

Institutional Investors Weigh In On Potlatch

A number of hedge funds have recently made changes to their positions in PCH. Norges Bank bought a new position in Potlatch during the second quarter valued at $217,543,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Potlatch by 254.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 876,480 shares of the real estate investment trust’s stock valued at $39,547,000 after buying an additional 629,334 shares during the period. Millennium Management LLC lifted its position in shares of Potlatch by 58.3% during the 3rd quarter. Millennium Management LLC now owns 1,288,642 shares of the real estate investment trust’s stock valued at $52,512,000 after buying an additional 474,526 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Potlatch by 19.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,792,075 shares of the real estate investment trust’s stock worth $107,132,000 after acquiring an additional 461,356 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Potlatch by 74.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,027,190 shares of the real estate investment trust’s stock worth $39,413,000 after acquiring an additional 438,032 shares during the last quarter. 86.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Zacks Research raised Potlatch from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research note on Wednesday, October 8th. Bank of America lowered shares of Potlatch from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $49.00 to $46.00 in a research note on Monday, November 17th. Truist Financial dropped their price target 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. Finally, Citigroup cut their price target 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. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus 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.