Shares of Potlatch Corp. (NASDAQ:PCH) have been given an average recommendation of “Hold” by the six brokerages that are currently covering the stock. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $40.67.
PCH has been the topic of a number of research reports. TheStreet upgraded Potlatch Corp. from a “hold” rating to a “buy” rating in a research note on Friday, July 22nd. Zacks Investment Research upgraded Potlatch Corp. from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Tuesday, July 5th. Bank of America Corp. upgraded Potlatch Corp. from an “underperform” rating to a “neutral” rating in a research note on Monday. DA Davidson downgraded Potlatch Corp. from a “buy” rating to a “neutral” rating and lowered their target price for the company 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 target price on Potlatch Corp. from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, June 17th.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Potlatch Corp. during the fourth quarter worth $11,375,000. Nisa Investment Advisors L.L.C. increased its stake 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 during the period. Virginia Retirement System acquired a new stake in Potlatch Corp. during the first quarter worth $438,000. BlackRock Inc. increased its stake in Potlatch Corp. by 8.4% in the first quarter. BlackRock Inc. now owns 20,326 shares of the real estate investment trust’s stock worth $640,000 after buying an additional 1,568 shares during the period. Finally, BlackRock Group LTD increased its stake 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 during the period. Institutional investors own 83.07% of the company’s stock.
Potlatch Corp. (NASDAQ:PCH) traded down 2.15% on Tuesday, reaching $37.76. The company had a trading volume of 119,849 shares. The company’s market capitalization is $1.53 billion. Potlatch Corp. has a 52-week low of $24.01 and a 52-week high of $39.91. The company’s 50-day moving average is $38.14 and its 200-day moving average is $35.39.
Potlatch Corp. (NASDAQ:PCH) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The firm had revenue of $141.50 million for the quarter, compared to the consensus estimate of $128.70 million. Potlatch Corp. had a positive return on equity of 16.52% and a negative net margin of 0.99%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. Equities analysts anticipate that Potlatch Corp. will post $1.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders 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 annualized dividend and a dividend yield of 3.89%. Potlatch Corp.’s dividend payout ratio (DPR) is currently -1,000.00%.
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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