BMO Capital Markets initiated coverage on shares of Potlatch Corp. (NASDAQ:PCH) in a research report released on Thursday morning. The brokerage issued a market perform rating and a $36.00 price target on the real estate investment trust’s stock.
Several other research firms have also commented on PCH. Bank of America Corp. raised shares of Potlatch Corp. from an underperform rating to a neutral rating in a research note on Monday, October 3rd. Zacks Investment Research lowered shares of Potlatch Corp. from a buy rating to a hold rating in a research note on Tuesday, October 4th. TheStreet downgraded shares of Potlatch Corp. from a buy rating to a hold rating in a research report on Friday, August 26th. DA Davidson downgraded shares of Potlatch Corp. from a buy rating to a neutral rating and reduced their price target for the company from $56.00 to $40.00 in a research report on Wednesday, July 27th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada upped their price target on shares of Potlatch Corp. from $42.00 to $45.00 and gave the company an outperform rating in a research report on Friday, June 17th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $39.83.
Potlatch Corp. (NASDAQ:PCH) opened at 38.80 on Thursday. The firm’s market cap is $1.57 billion. The company’s 50 day moving average is $38.06 and its 200 day moving average is $35.95. Potlatch Corp. has a 12-month low of $24.01 and a 12-month high of $39.91.
Potlatch Corp. (NASDAQ:PCH) last released its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.13 EPS for the quarter, beating the 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 business earned $141.50 million during the quarter, compared to analyst estimates of $128.70 million. During the same period in the prior year, the business earned $0.02 earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities analysts anticipate that Potlatch Corp. will post $1.05 earnings per share for the current year.
The business also recently disclosed 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 yield of 3.87%. Potlatch Corp.’s dividend payout ratio is presently -1,000.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCH. Nisa Investment Advisors L.L.C. raised its position 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 valued at $608,000 after buying an additional 5,400 shares in the last quarter. Virginia Retirement System bought a new position in Potlatch Corp. during the first quarter valued at $438,000. BlackRock Inc. raised its position 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 valued at $640,000 after buying an additional 1,568 shares in the last quarter. BlackRock Group LTD raised its position 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 valued at $3,222,000 after buying an additional 4,070 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in Potlatch Corp. by 3.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,266,871 shares of the real estate investment trust’s stock valued at $39,906,000 after buying an additional 42,300 shares in the last quarter. Hedge funds and other institutional investors own 83.04% of the company’s stock.
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.
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.