Potlatch Corp. (NASDAQ:PCH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Potlatch Corp. is an integrated forest products company with substantial timber resources. It is engaged principally in the growing and harvesting of timber and the manufacture and sale of wood products, printing papers and pulp and paper products. Its timberlands and all of its manufacturing facilities are located within the continental United States. “
A number of other equities research analysts have also recently issued reports on the stock. Bank of America Corp. raised shares of Potlatch Corp. from an “underperform” rating to a “neutral” rating in a report on Monday. TheStreet cut shares of Potlatch Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 26th. DA Davidson cut shares of Potlatch Corp. from a “buy” rating to a “neutral” rating and decreased 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. Finally, Royal Bank Of Canada upped their price target on shares of Potlatch Corp. from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, June 17th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $40.25.
Shares of Potlatch Corp. (NASDAQ:PCH) opened at 37.02 on Tuesday. The firm’s market cap is $1.50 billion. The company’s 50 day moving average price is $38.08 and its 200 day moving average price is $35.45. Potlatch Corp. has a 12-month low of $24.01 and a 12-month 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. Potlatch Corp. had a negative net margin of 0.99% and a positive return on equity of 16.52%. The business had revenue of $141.50 million for the quarter, compared to analysts’ expectations of $128.70 million. During the same quarter in the previous year, the firm posted $0.02 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research analysts forecast that Potlatch Corp. will post $1.06 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Tuesday, September 20th were paid a $0.375 dividend. The ex-dividend date was Friday, September 16th. This represents a $1.50 dividend on an annualized basis and a yield of 4.05%. Potlatch Corp.’s dividend payout ratio is presently -1,000.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCH. Nisa Investment Advisors L.L.C. boosted its position in Potlatch Corp. by 38.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 19,300 shares of the real estate investment trust’s stock worth $608,000 after buying an additional 5,400 shares in the last quarter. State Street Corp boosted its position in Potlatch Corp. by 0.4% in the first quarter. State Street Corp now owns 1,280,225 shares of the real estate investment trust’s stock worth $40,326,000 after buying an additional 4,768 shares in the last quarter. BlackRock Group LTD boosted its position in Potlatch Corp. by 4.1% in the first quarter. BlackRock Group LTD now owns 102,286 shares of the real estate investment trust’s stock worth $3,222,000 after buying an additional 4,070 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Potlatch Corp. during the first quarter worth approximately $207,000. Finally, Credit Agricole S A boosted its position in Potlatch Corp. by 58.5% in the first quarter. Credit Agricole S A now owns 10,500 shares of the real estate investment trust’s stock worth $331,000 after buying an additional 3,874 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.
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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