Potlatch Corporation (NASDAQ:PCH) Receives $49.33 Consensus PT from Analysts

Potlatch Corporation (NASDAQ:PCH) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $49.3333.

Several analysts have commented on the stock. Zacks Research cut shares of Potlatch from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Citigroup reiterated a “neutral” rating and set a $45.00 target price (down previously from $49.00) on shares of Potlatch in a research report on Wednesday, October 15th. Truist Financial dropped their target price on shares of Potlatch from $52.00 to $51.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Potlatch from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd.

Potlatch Stock Up 1.1%

NASDAQ PCH opened at $42.53 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average is $41.74 and its two-hundred day moving average is $40.42. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 80.25 and a beta of 1.10. Potlatch has a 1-year low of $36.82 and a 1-year high of $48.12.

Potlatch (NASDAQ:PCH) last announced its earnings results on Friday, May 6th. The real estate investment trust reported $1.94 EPS for the quarter. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The business had revenue of $354.19 million for the quarter. Equities analysts forecast that Potlatch will post 0.8 earnings per share for the current fiscal year.

Potlatch Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.80 dividend on an annualized basis and a yield of 4.2%. Potlatch’s dividend payout ratio is presently 339.62%.

Institutional Investors Weigh In On Potlatch

Several hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in Potlatch during the second quarter worth approximately $217,543,000. Legal & General Group Plc lifted its position in Potlatch by 13.9% during the second quarter. Legal & General Group Plc now owns 2,819,875 shares of the real estate investment trust’s stock worth $108,199,000 after acquiring an additional 344,553 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in Potlatch by 19.8% during the second quarter. Westwood Holdings Group Inc. now owns 2,792,075 shares of the real estate investment trust’s stock worth $107,132,000 after acquiring an additional 461,356 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Potlatch by 1.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,560,123 shares of the real estate investment trust’s stock worth $70,393,000 after acquiring an additional 17,352 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Potlatch by 74.3% during the second quarter. Ameriprise Financial Inc. now owns 1,027,190 shares of the real estate investment trust’s stock worth $39,413,000 after acquiring an additional 438,032 shares during the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.

About Potlatch

PotlatchDeltic Corporation (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.