Potlatch Corp. (NASDAQ:PCH) was upgraded by research analysts at Bank of America Corp. from an “underperform” rating to a “neutral” rating in a research note issued on Monday.
PCH has been the topic of several other research reports. TheStreet lowered shares of Potlatch Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Zacks Investment Research raised shares of Potlatch Corp. from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Tuesday, July 5th. DA Davidson lowered shares of Potlatch Corp. from a “buy” rating to a “neutral” rating and reduced their price objective 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, Royal Bank Of Canada lifted their price objective on shares of Potlatch Corp. from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, June 17th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Potlatch Corp. has an average rating of “Hold” and a consensus price target of $40.25.
Shares of Potlatch Corp. (NASDAQ:PCH) opened at 37.69 on Monday. The firm has a 50-day moving average of $38.11 and a 200 day moving average of $35.44. Potlatch Corp. has a 52-week low of $24.01 and a 52-week high of $39.91. The company’s market capitalization is $1.53 billion.
Potlatch Corp. (NASDAQ:PCH) last issued its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. The company had revenue of $141.50 million for the quarter, compared to analyst estimates of $128.70 million. Potlatch Corp. had a negative net margin of 0.99% and a positive return on equity of 16.52%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 EPS. On average, analysts anticipate that Potlatch Corp. will post $1.06 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders 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 annualized dividend and a yield of 3.98%. Potlatch Corp.’s dividend payout ratio (DPR) is currently -1,000.00%.
A number of hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in shares of 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 valued at $102,000 after buying an additional 128 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Potlatch Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,682 shares of the real estate investment trust’s stock valued at $194,000 after buying an additional 689 shares during the period. Sterling Investment Management Inc. bought a new stake in shares of Potlatch Corp. during the second quarter valued at approximately $206,000. Bayesian Capital Management LP bought a new stake in shares of Potlatch Corp. during the first quarter valued at approximately $207,000. Finally, Hancock Holding Co. bought a new stake in shares of Potlatch Corp. during the second quarter valued at approximately $210,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.
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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