Analysts Set Potlatch Corporation (NASDAQ:PCH) Target Price at $45.83

Shares of Potlatch Corporation (NASDAQ:PCH) have received a consensus rating of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $45.8333.

Several research firms have recently commented on PCH. Weiss Ratings reissued a “hold (c)” rating on shares of Potlatch in a report on Thursday, January 22nd. Royal Bank Of Canada reissued a “sector perform” rating and issued a $48.00 target price on shares of Potlatch in a report on Monday, November 10th. DA Davidson restated a “neutral” rating and set a $40.00 target price (down from $54.00) on shares of Potlatch in a research report on Thursday, November 13th. Bank of America downgraded shares of Potlatch from a “buy” rating to an “underperform” rating and cut their price target for the company from $49.00 to $46.00 in a report on Monday, November 17th. Finally, Zacks Research upgraded shares of Potlatch from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th.

Potlatch Trading Up 0.0%

NASDAQ PCH opened at $41.73 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.96 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $3.23 billion, a P/E ratio of 50.89 and a beta of 1.09. Potlatch has a 52-week low of $36.82 and a 52-week high of $48.12. The firm has a 50-day moving average price of $41.75 and a 200 day moving average price of $41.29.

Potlatch Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, December 15th. Potlatch’s dividend payout ratio (DPR) is presently 219.51%.

Insiders Place Their Bets

In other Potlatch news, CEO Eric J. Cremers sold 24,123 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $39.33, for a total value of $948,757.59. Following the sale, the chief executive officer owned 296,043 shares of the company’s stock, valued at approximately $11,643,371.19. This represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William R. Dereu sold 3,278 shares of the firm’s stock in a transaction 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 transaction, the vice president 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 SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 43,569 shares of company stock worth $1,715,897. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Potlatch

Institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Potlatch in the second quarter valued at $217,543,000. Balyasny Asset Management L.P. acquired a new position in Potlatch in the 4th quarter valued at about $71,065,000. Price T Rowe Associates Inc. MD lifted its holdings in Potlatch by 1,913.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,497,014 shares of the real estate investment trust’s stock valued at $59,552,000 after purchasing an additional 1,422,670 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Potlatch by 976,020.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 722,329 shares of the real estate investment trust’s stock worth $28,735,000 after purchasing an additional 722,255 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Potlatch by 58.3% during the third quarter. Millennium Management LLC now owns 1,288,642 shares of the real estate investment trust’s stock worth $52,512,000 after buying an additional 474,526 shares in the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.

About Potlatch

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.