Stevens First Principles Investment Advisors cut its position in shares of Potlatch Corp. (NASDAQ:PCH) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,049 shares of the real estate investment trust’s stock after selling 801 shares during the period. Potlatch Corp. makes up approximately 3.3% of Stevens First Principles Investment Advisors’ holdings, making the stock its 7th largest position. Stevens First Principles Investment Advisors’ holdings in Potlatch Corp. were worth $4,366,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Bayesian Capital Management LP purchased a new position in Potlatch Corp. during the first quarter worth approximately $207,000. Confluence Investment Management LLC purchased a new position in Potlatch Corp. during the second quarter worth approximately $243,000. Credit Agricole S A increased 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. Stelac Advisory Services LLC increased its position in Potlatch Corp. by 27.8% in the first quarter. Stelac Advisory Services LLC now owns 12,216 shares of the real estate investment trust’s stock worth $365,000 after buying an additional 2,656 shares in the last quarter. Finally, Virginia Retirement System purchased a new position in Potlatch Corp. during the first quarter worth approximately $438,000. Institutional investors own 83.07% of the company’s stock.
Potlatch Corp. (NASDAQ:PCH) traded up 2.16% during midday trading on Friday, hitting $38.27. The stock had a trading volume of 168,397 shares. Potlatch Corp. has a 1-year low of $24.01 and a 1-year high of $39.91. The firm’s market capitalization is $1.55 billion. The firm has a 50-day moving average price of $38.04 and a 200-day moving average price of $35.46.
Potlatch Corp. (NASDAQ:PCH) last released its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.07. Potlatch Corp. had a positive return on equity of 16.52% and a negative net margin of 0.99%. 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 business posted $0.02 EPS. Potlatch Corp.’s revenue for the quarter 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 disclosed 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 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Friday, September 16th. Potlatch Corp.’s dividend payout ratio (DPR) is presently -1,000.00%.
Several equities analysts have commented on the company. TheStreet upgraded Potlatch Corp. from a “hold” rating to a “buy” rating in a report 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 report on Tuesday, July 5th. Bank of America Corp. upgraded Potlatch Corp. from an “underperform” rating to a “neutral” rating in a report on Monday. DA Davidson downgraded Potlatch Corp. from a “buy” rating to a “neutral” rating and lowered their price target for the company 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 increased their price target on Potlatch Corp. from $42.00 to $45.00 and gave the company 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 assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $40.25.
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.
Want to see what other hedge funds are holding PCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Potlatch Corp. (NASDAQ:PCH).
Receive News & Ratings for Potlatch Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Potlatch Corp. and related companies with MarketBeat.com's FREE daily email newsletter.