Analysts Set Potlatch Corporation (NASDAQ:PCH) Target Price at $45.80

Potlatch Corporation (NASDAQ:PCH) has received an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $45.80.

PCH has been the topic of several recent research reports. Bank of America cut shares of Potlatch from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $49.00 to $46.00 in a research note on Monday, November 17th. Zacks Research raised shares of Potlatch from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. Truist Financial decreased their price target on shares of Potlatch from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Citigroup cut their price objective on shares of Potlatch from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $48.00 price objective on shares of Potlatch in a research note on Monday, November 10th.

Potlatch Stock Performance

Shares of PCH opened at $39.72 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.96 and a quick ratio of 1.26. Potlatch has a one year low of $36.82 and a one year high of $48.12. The firm has a market capitalization of $3.07 billion, a P/E ratio of 48.44 and a beta of 1.09. The business has a fifty day moving average of $39.89 and a 200 day moving average of $40.81.

Potlatch (NASDAQ:PCH) last posted its earnings results on Friday, May 6th. The real estate investment trust reported $1.94 earnings per share for the quarter. The company had revenue of $354.19 million for the quarter. Potlatch had a return on equity of 3.38% and a net margin of 5.76%. As a group, sell-side analysts anticipate that Potlatch will post 0.8 EPS for the current year.

Potlatch Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, December 15th. Potlatch’s payout ratio is currently 219.51%.

Insider Transactions at Potlatch

In related news, VP William R. Dereu sold 3,278 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $39.33, for a total value of $128,923.74. Following the completion of the sale, the vice president directly owned 73,845 shares of the company’s stock, valued at approximately $2,904,323.85. This represents a 4.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Darin Robert Ball sold 4,127 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $39.30, for a total transaction of $162,191.10. Following the sale, the vice president owned 49,054 shares in the company, valued at approximately $1,927,822.20. The trade was a 7.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 42,278 shares of company stock valued at $1,663,143. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Potlatch

Several hedge funds have recently modified their holdings of PCH. Quarry LP grew its stake in Potlatch by 70.9% during the first quarter. Quarry LP now owns 1,191 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 494 shares in the last quarter. Graham Capital Management L.P. bought a new position in shares of Potlatch during the 1st quarter valued at about $1,217,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Potlatch during the 1st quarter valued at about $19,176,000. AQR Capital Management LLC grew its position in shares of Potlatch by 130.0% during the first quarter. AQR Capital Management LLC now owns 485,689 shares of the real estate investment trust’s stock valued at $21,691,000 after purchasing an additional 274,535 shares in the last quarter. Finally, Curi RMB Capital LLC grew its position in shares of Potlatch by 2.5% during the first quarter. Curi RMB Capital LLC now owns 343,796 shares of the real estate investment trust’s stock valued at $15,512,000 after purchasing an additional 8,388 shares in the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Potlatch Company Profile

PotlatchDeltic Corporation, which trades on the NASDAQ under the ticker PCH, is a real estate investment trust (REIT) specializing in the ownership and sustainable management of timberland. Headquartered in Spokane, Washington, the company holds approximately two million acres of forested land across the United States. Its integrated business model combines timberland stewardship with manufacturing and marketing of wood products to serve residential, agricultural and industrial markets.

In its timberland segment, PotlatchDeltic focuses on responsible forest management practices, including reforestation, habitat conservation and wildfire mitigation.