ZWJ Investment Counsel Inc. Buys Shares of 5,632 Potlatch Corporation $PCH

ZWJ Investment Counsel Inc. bought a new stake in Potlatch Corporation (NASDAQ:PCH) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 5,632 shares of the real estate investment trust’s stock, valued at approximately $216,000.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of Potlatch by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 166,650 shares of the real estate investment trust’s stock valued at $7,519,000 after purchasing an additional 1,624 shares in the last quarter. First Horizon Advisors Inc. acquired a new stake in shares of Potlatch in the 1st quarter valued at $5,138,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Potlatch by 254.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 876,480 shares of the real estate investment trust’s stock valued at $39,547,000 after purchasing an additional 629,334 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Potlatch by 25.2% during the 1st quarter. Cerity Partners LLC now owns 26,915 shares of the real estate investment trust’s stock valued at $1,214,000 after acquiring an additional 5,422 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Potlatch during the 1st quarter valued at $548,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

Potlatch Stock Up 0.4%

Shares of NASDAQ:PCH opened at $42.46 on Friday. The firm has a market cap of $3.28 billion, a P/E ratio of 80.11 and a beta of 1.10. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. Potlatch Corporation has a 12-month low of $36.82 and a 12-month high of $48.12. The business has a fifty day simple moving average of $41.81 and a 200 day simple moving average of $40.62.

Potlatch (NASDAQ:PCH) last announced its earnings results on Monday, July 28th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. The business had revenue of $274.99 million during the quarter, compared to analyst estimates of $267.66 million. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.Potlatch’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same period last year, the company earned $0.17 EPS. Analysts predict that Potlatch Corporation will post 0.8 earnings per share for the current year.

Potlatch Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.80 annualized dividend and a dividend yield of 4.2%. Potlatch’s dividend payout ratio (DPR) is 339.62%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PCH. Wall Street Zen downgraded Potlatch from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Potlatch in a report on Saturday, September 27th. Finally, Truist Financial raised Potlatch from a “hold” rating to a “buy” rating and raised their price objective for the company from $44.00 to $52.00 in a report on Wednesday, July 16th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Potlatch currently has an average rating of “Moderate Buy” and an average price target of $49.83.

Potlatch Company Profile

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.