UBS Asset Management Americas Inc. raised its position in shares of Potlatch Corp. (NASDAQ:PCH) by 51.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,215 shares of the real estate investment trust’s stock after buying an additional 10,916 shares during the period. UBS Asset Management Americas Inc. owned 0.08% of Potlatch Corp. worth $1,098,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PCH. Emerald Acquisition Ltd. acquired a new position in Potlatch Corp. during the second quarter worth $22,753,000. Bank of New York Mellon Corp increased its stake in shares of Potlatch Corp. by 35.4% in the second quarter. Bank of New York Mellon Corp now owns 694,968 shares of the real estate investment trust’s stock valued at $23,699,000 after buying an additional 181,685 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Potlatch Corp. by 20.5% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 996,028 shares of the real estate investment trust’s stock valued at $33,965,000 after buying an additional 169,200 shares in the last quarter. Goldman Sachs Group Inc. increased its stake 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 valued at $6,891,000 after buying an additional 167,484 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake 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 valued at $39,311,000 after buying an additional 164,737 shares in the last quarter. 83.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Potlatch Corp. (NASDAQ:PCH) opened at 39.29 on Monday. The stock’s market cap is $1.59 billion. Potlatch Corp. has a 12-month low of $24.01 and a 12-month high of $39.91. The company’s 50-day moving average is $38.01 and its 200-day moving average is $35.78.
Potlatch Corp. (NASDAQ:PCH) last announced its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate 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 firm 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 business posted $0.02 EPS. The company’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities research analysts anticipate that Potlatch Corp. will post $1.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Tuesday, September 20th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Friday, September 16th. Potlatch Corp.’s dividend payout ratio (DPR) is presently -1,000.00%.
Several brokerages have recently commented on PCH. Buckingham Research downgraded shares of Potlatch Corp. from a “buy” rating to a “neutral” rating in a report on Monday. BMO Capital Markets began coverage on shares of Potlatch Corp. in a report on Thursday. They issued a “market perform” rating and a $36.00 target price for the company. Zacks Investment Research downgraded shares of Potlatch Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Bank of America Corp. upgraded shares of Potlatch Corp. from an “underperform” rating to a “neutral” rating in a report on Monday, October 3rd. Finally, TheStreet downgraded shares of Potlatch Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Potlatch Corp. presently has an average rating of “Hold” and an average price target of $39.40.
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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