Several other brokerages also recently commented on PCH. TheStreet upgraded Potlatch Corp. from a hold rating to a buy rating in a research note on Friday, July 22nd. Zacks Investment Research upgraded Potlatch Corp. from a hold rating to a buy rating and set a $39.00 target price for the company in a research note on Tuesday, July 5th. BMO Capital Markets initiated coverage on Potlatch Corp. in a research note on Thursday, October 13th. They issued a market perform rating and a $36.00 target price for the company. DA Davidson downgraded Potlatch Corp. from a buy rating to a neutral rating and cut their target price for the stock from $56.00 to $40.00 in a research note on Wednesday, July 27th. They noted that the move was a valuation call. Finally, Bank of America Corp. raised Potlatch Corp. from an underperform rating to a neutral rating in a report on Monday, October 3rd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $39.40.
Potlatch Corp. (NASDAQ:PCH) traded down 0.26% during mid-day trading on Monday, hitting $38.95. The stock had a trading volume of 20,900 shares. The company’s 50 day moving average price is $38.04 and its 200 day moving average price is $35.90. The firm’s market cap is $1.58 billion. Potlatch Corp. has a 52 week low of $24.01 and a 52 week high of $39.91.
Potlatch Corp. (NASDAQ:PCH) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07. Potlatch Corp. had a positive return on equity of 16.52% and a negative net margin of 0.99%. The business earned $141.50 million during the quarter, compared to the consensus estimate of $128.70 million. During the same quarter last year, the company earned $0.02 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. Analysts anticipate that Potlatch Corp. will post $1.05 earnings per share for the current year.
The company 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 dividend yield of 3.84%. Potlatch Corp.’s dividend payout ratio is -1,000.00%.
Institutional investors have recently made changes to their positions in the stock. Barclays PLC boosted its position in shares of Potlatch Corp. by 1,803.9% in the first quarter. Barclays PLC now owns 28,558 shares of the real estate investment trust’s stock worth $884,000 after buying an additional 27,058 shares during the period. Bayesian Capital Management LP bought a new position in shares of Potlatch Corp. during the first quarter worth approximately $207,000. Renaissance Technologies LLC boosted its position in shares of Potlatch Corp. by 15.2% in the first quarter. Renaissance Technologies LLC now owns 1,247,953 shares of the real estate investment trust’s stock worth $39,311,000 after buying an additional 164,737 shares during the period. Kennedy Capital Management Inc. boosted its position in shares of Potlatch Corp. by 50.8% in the first quarter. Kennedy Capital Management Inc. now owns 460,994 shares of the real estate investment trust’s stock worth $14,521,000 after buying an additional 155,275 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Potlatch Corp. by 326.7% in the first quarter. Goldman Sachs Group Inc. now owns 218,749 shares of the real estate investment trust’s stock worth $6,891,000 after buying an additional 167,484 shares during the period. 83.04% of the stock is currently owned by institutional investors.
About Potlatch Corp.
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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