Potlatch Corporation $PCH Stake Cut by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership lessened its holdings in Potlatch Corporation (NASDAQ:PCH) by 25.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,142 shares of the real estate investment trust’s stock after selling 15,362 shares during the quarter. Foresight Group Ltd Liability Partnership owned approximately 0.06% of Potlatch worth $1,777,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Coastline Trust Co bought a new position in Potlatch in the third quarter worth about $26,000. Hantz Financial Services Inc. raised its position in shares of Potlatch by 611.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 719 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 618 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Potlatch by 27.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,378 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 294 shares during the last quarter. United Services Automobile Association acquired a new position in Potlatch during the 1st quarter valued at approximately $204,000. Finally, M&G PLC acquired a new position in Potlatch during the 2nd quarter valued at approximately $196,000. 86.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PCH has been the topic of a number of recent research reports. Truist Financial cut their target price on Potlatch from $52.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. BMO Capital Markets lowered shares of Potlatch from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $51.00 to $45.00 in a research report on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Potlatch in a research report on Thursday, January 22nd. Royal Bank Of Canada reissued a “sector perform” rating and set a $48.00 target price on shares of Potlatch in a research note on Monday, November 10th. Finally, Bank of America cut 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. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $45.83.

Insider Buying and Selling at Potlatch

In other news, VP Ashlee Townsend Cribb sold 4,756 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $39.35, for a total transaction of $187,148.60. Following the completion of the sale, the vice president owned 39,619 shares in the company, valued at approximately $1,559,007.65. This represents a 10.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Glen F. Smith sold 738 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $41.80, for a total value of $30,848.40. Following the sale, the chief accounting officer directly owned 8,159 shares of the company’s stock, valued at approximately $341,046.20. This represents a 8.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 43,569 shares of company stock valued at $1,715,897. Corporate insiders own 1.00% of the company’s stock.

Potlatch Price Performance

NASDAQ:PCH opened at $41.73 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.96 and a debt-to-equity ratio of 0.53. The business’s 50-day moving average price is $41.35 and its 200 day moving average price is $41.31. Potlatch Corporation has a 52-week low of $36.82 and a 52-week high of $48.12. The firm has a market cap of $3.23 billion, a P/E ratio of 50.89 and a beta of 1.09.

Potlatch Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, December 15th. Potlatch’s payout ratio is presently 219.51%.

Potlatch Company 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.