Envestnet Asset Management Inc. Buys 127,926 Shares of Potlatch Corporation $PCH

Envestnet Asset Management Inc. lifted its position in Potlatch Corporation (NASDAQ:PCH) by 182.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,210 shares of the real estate investment trust’s stock after buying an additional 127,926 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.26% of Potlatch worth $8,077,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Potlatch during the 2nd quarter worth approximately $217,543,000. Legal & General Group Plc raised its position in shares of Potlatch by 13.9% in the second quarter. Legal & General Group Plc now owns 2,819,875 shares of the real estate investment trust’s stock worth $108,199,000 after buying an additional 344,553 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in Potlatch by 19.8% during the second quarter. Westwood Holdings Group Inc. now owns 2,792,075 shares of the real estate investment trust’s stock valued at $107,132,000 after buying an additional 461,356 shares during the period. Ameriprise Financial Inc. grew its position in Potlatch by 74.3% during the second quarter. Ameriprise Financial Inc. now owns 1,027,190 shares of the real estate investment trust’s stock worth $39,413,000 after buying an additional 438,032 shares in the last quarter. Finally, Sei Investments Co. grew its position in Potlatch by 20.5% during the second quarter. Sei Investments Co. now owns 464,044 shares of the real estate investment trust’s stock worth $17,805,000 after buying an additional 78,900 shares in the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Potlatch Price Performance

Shares of Potlatch stock opened at $41.73 on Friday. The company’s fifty day simple moving average is $41.69 and its two-hundred day simple moving average is $41.33. Potlatch Corporation has a 12-month low of $36.82 and a 12-month high of $48.12. The firm has a market cap of $3.23 billion, a PE ratio of 50.89 and a beta of 1.09. 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 Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently issued reports on PCH shares. Citigroup lifted their price target on Potlatch from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Bank of America lowered shares of Potlatch from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $49.00 to $46.00 in a report on Monday, November 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Potlatch in a research report on Thursday, January 22nd. Zacks Research raised shares of Potlatch from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Finally, DA Davidson restated a “neutral” rating and set a $40.00 price target (down from $54.00) on shares of Potlatch in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Potlatch currently has a consensus rating of “Hold” and a consensus price target of $45.83.

Insider Transactions at Potlatch

In other news, CAO Glen F. Smith sold 738 shares of Potlatch stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $41.80, for a total transaction of $30,848.40. Following the sale, the chief accounting officer owned 8,159 shares of the company’s stock, valued at approximately $341,046.20. The trade was a 8.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William R. Dereu sold 3,278 shares of the business’s 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 transaction, the vice president owned 73,845 shares in the company, valued at $2,904,323.85. This represents a 4.25% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 43,569 shares of company stock worth $1,715,897. Corporate insiders own 1.00% of the company’s stock.

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.