Mason Street Advisors LLC purchased a new position in shares of Potlatch Corp. (NASDAQ:PCH) during the second quarter, Holdings Channel reports. The institutional investor purchased 18,555 shares of the real estate investment trust’s stock, valued at approximately $633,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its position in Potlatch Corp. by 4.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,988 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 128 shares during the period. Barclays PLC boosted its position in Potlatch Corp. by 0.6% in the second quarter. Barclays PLC now owns 28,716 shares of the real estate investment trust’s stock worth $980,000 after buying an additional 158 shares in the last quarter. State Treasurer State of Michigan boosted its position in Potlatch Corp. by 1.9% in the second quarter. State Treasurer State of Michigan now owns 16,341 shares of the real estate investment trust’s stock worth $557,000 after buying an additional 300 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Potlatch Corp. by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 13,608 shares of the real estate investment trust’s stock worth $464,000 after buying an additional 330 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Potlatch Corp. by 1.6% in the second quarter. Prudential Financial Inc. now owns 26,022 shares of the real estate investment trust’s stock worth $887,000 after buying an additional 400 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.
Shares of Potlatch Corp. (NASDAQ:PCH) opened at 38.89 on Monday. The company has a 50-day moving average price of $38.11 and a 200 day moving average price of $35.24. The company’s market capitalization is $1.58 billion. Potlatch Corp. has a one year low of $24.01 and a one year high of $39.91.
Potlatch Corp. (NASDAQ:PCH) last issued its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $141.50 million for the quarter, compared to analysts’ expectations of $128.70 million. Potlatch Corp. had a positive return on equity of 16.52% and a negative net margin of 0.99%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 EPS. Equities analysts anticipate that Potlatch Corp. will post $1.06 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Tuesday, September 20th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, September 16th. This represents a $1.50 dividend on an annualized basis and a yield of 3.86%. Potlatch Corp.’s dividend payout ratio (DPR) is -1,000.00%.
Several analysts have recently weighed in on PCH shares. TheStreet cut Potlatch Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 26th. DA Davidson cut Potlatch Corp. from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $56.00 to $40.00 in a report on Wednesday, July 27th. They noted that the move was a valuation call. Zacks Investment Research upgraded Potlatch Corp. from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Tuesday, July 5th. Finally, Royal Bank Of Canada boosted their price target on Potlatch Corp. from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, June 17th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Potlatch Corp. has an average rating of “Buy” and a consensus target price of $40.25.
Potlatch Corp. Company Profile
Potlatch Corporation is a real estate investment trust (REIT). The Company operates through three segments: Resource, Wood Products and Real Estate. The Resource segment management activities include planting and harvesting trees, and building and maintaining roads. Its activities also include hunting leases, recreation permits and leases, mineral rights leases, biomass production and carbon sequestration.
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