Bayforest Capital Ltd Lowers Stock Holdings in Potlatch Corporation $PCH

Bayforest Capital Ltd decreased its holdings in Potlatch Corporation (NASDAQ:PCH) by 91.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,325 shares of the real estate investment trust’s stock after selling 24,358 shares during the period. Bayforest Capital Ltd’s holdings in Potlatch were worth $95,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Comprehensive Money Management Services LLC lifted its holdings in Potlatch by 40.8% during the 3rd quarter. Comprehensive Money Management Services LLC now owns 16,041 shares of the real estate investment trust’s stock worth $654,000 after buying an additional 4,651 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Potlatch by 89.4% in the 3rd quarter. SG Americas Securities LLC now owns 60,596 shares of the real estate investment trust’s stock valued at $2,469,000 after buying an additional 28,603 shares during the last quarter. Coastline Trust Co purchased a new stake in shares of Potlatch in the 3rd quarter valued at about $26,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Potlatch by 51.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 96,933 shares of the real estate investment trust’s stock valued at $3,950,000 after acquiring an additional 32,794 shares during the period. Finally, Columbus Macro LLC grew its position in Potlatch by 289.9% during the 3rd quarter. Columbus Macro LLC now owns 172,830 shares of the real estate investment trust’s stock worth $7,043,000 after purchasing an additional 128,508 shares during the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.

Potlatch Stock Up 3.9%

Shares of NASDAQ PCH opened at $44.30 on Thursday. The firm has a market cap of $3.42 billion, a P/E ratio of 54.03 and a beta of 1.09. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.26 and a current ratio of 1.96. Potlatch Corporation has a 1 year low of $36.82 and a 1 year high of $48.12. The firm’s 50 day moving average price is $40.13 and its 200 day moving average price is $40.97.

Potlatch (NASDAQ:PCH) last released its earnings results on Monday, November 3rd. The real estate investment trust reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.21. Potlatch had a return on equity of 3.38% and a net margin of 5.76%.The firm had revenue of $314.18 million for the quarter, compared to the consensus estimate of $308.13 million. As a group, sell-side analysts anticipate that Potlatch Corporation will post 0.8 earnings per share for the current year.

Potlatch Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.1%. The ex-dividend date was Monday, December 15th. Potlatch’s dividend payout ratio is currently 219.51%.

Insider Buying and Selling

In related news, VP Ashlee Townsend Cribb sold 4,756 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $39.35, for a total value of $187,148.60. Following the transaction, the vice president owned 39,619 shares in the company, valued at approximately $1,559,007.65. The trade was a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michele Tyler sold 4,343 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $39.36, for a total value of $170,940.48. Following the sale, the vice president owned 42,184 shares of the company’s stock, valued at approximately $1,660,362.24. This trade represents a 9.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 43,569 shares of company stock valued at $1,715,897 over the last ninety days. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on PCH shares. Zacks Research upgraded shares of Potlatch from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Bank of America lowered shares of Potlatch from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $49.00 to $46.00 in a research report on Monday, November 17th. Truist Financial cut their price target on shares of Potlatch from $52.00 to $51.00 and set a “buy” rating for the company in a report on Monday, October 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Potlatch in a report on Wednesday, October 8th. Finally, BMO Capital Markets cut shares of Potlatch from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $51.00 to $45.00 in a report on Thursday, January 8th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Potlatch currently has a consensus rating of “Hold” and an average target price of $45.83.

Potlatch Profile

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.