State of Wyoming Reduces Holdings in Potlatch Corporation $PCH

State of Wyoming reduced its stake in shares of Potlatch Corporation (NASDAQ:PCH) by 77.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,003 shares of the real estate investment trust’s stock after selling 17,327 shares during the period. State of Wyoming’s holdings in Potlatch were worth $204,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Coastline Trust Co acquired a new position in shares of Potlatch in the third quarter worth $26,000. GAMMA Investing LLC boosted its stake in shares of Potlatch by 27.1% during the third quarter. GAMMA Investing LLC now owns 1,378 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 294 shares during the last quarter. M&G PLC purchased a new stake in Potlatch during the 2nd quarter worth about $196,000. United Services Automobile Association purchased a new stake in Potlatch during the 1st quarter worth about $204,000. Finally, Mutual Advisors LLC acquired a new position in Potlatch in the 2nd quarter valued at about $220,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

Potlatch Stock Performance

NASDAQ:PCH opened at $41.73 on Tuesday. The company has a market cap of $3.23 billion, a P/E ratio of 50.89 and a beta of 1.09. The firm’s 50 day moving average is $41.35 and its two-hundred day moving average is $41.31. Potlatch Corporation has a fifty-two week low of $36.82 and a fifty-two week high of $48.12. The company has a quick ratio of 1.26, a current ratio of 1.96 and a debt-to-equity ratio of 0.53.

Potlatch Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, December 15th. Potlatch’s dividend payout ratio (DPR) is 219.51%.

Insider Transactions at Potlatch

In other news, VP Darin Robert Ball sold 4,127 shares of the firm’s stock in a transaction dated 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. This trade represents a 7.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric J. Cremers sold 24,123 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $39.33, for a total value of $948,757.59. Following the sale, the chief executive officer owned 296,043 shares of the company’s stock, valued at $11,643,371.19. The trade was a 7.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 43,569 shares of company stock valued at $1,715,897 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PCH. Citigroup raised their price target on shares of Potlatch from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. DA Davidson reissued a “neutral” rating and issued a $40.00 price objective (down previously from $54.00) on shares of Potlatch in a research report on Thursday, November 13th. Zacks Research upgraded shares of Potlatch from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. BMO Capital Markets cut shares of Potlatch from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $51.00 to $45.00 in a research note on Thursday, January 8th. Finally, Truist Financial cut their price target on Potlatch from $52.00 to $51.00 and set a “buy” rating for the company in a report on Monday, October 13th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.83.

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.