JPMorgan Chase & Co. Lowers Stock Holdings in Potlatch Corporation $PCH

JPMorgan Chase & Co. reduced its position in shares of Potlatch Corporation (NASDAQ:PCH) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 997,231 shares of the real estate investment trust’s stock after selling 19,129 shares during the period. JPMorgan Chase & Co. owned approximately 1.29% of Potlatch worth $40,637,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Coastline Trust Co acquired a new position in Potlatch during the third quarter worth $26,000. Hantz Financial Services Inc. boosted its stake in Potlatch by 611.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 719 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 618 shares during the last quarter. GAMMA Investing LLC grew its holdings in Potlatch by 27.1% in the third quarter. GAMMA Investing LLC now owns 1,378 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 294 shares during the period. M&G PLC purchased a new position in shares of Potlatch in the 2nd quarter worth $196,000. Finally, United Services Automobile Association purchased a new position in shares of Potlatch in the 1st quarter worth about $204,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

Potlatch Stock Performance

PCH stock 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 company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 50.89 and a beta of 1.09. Potlatch Corporation has a 12 month low of $36.82 and a 12 month high of $48.12. The firm has a 50 day moving average of $41.81 and a two-hundred day moving average of $41.29.

Potlatch Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Monday, December 15th. Potlatch’s dividend payout ratio is 219.51%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Zacks Research raised Potlatch from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Royal Bank Of Canada reissued a “sector perform” rating and set a $48.00 target price on shares of Potlatch in a report on Monday, November 10th. BMO Capital Markets downgraded Potlatch from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $51.00 to $45.00 in a report on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research report on Thursday, January 22nd. Finally, Citigroup raised their price target on Potlatch from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.83.

Insider Buying and Selling at Potlatch

In other Potlatch news, VP Darin Robert Ball sold 4,127 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $39.30, for a total value of $162,191.10. Following the sale, the vice president directly owned 49,054 shares in the company, valued at $1,927,822.20. This represents a 7.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Ashlee Townsend Cribb sold 4,756 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $39.35, for a total transaction of $187,148.60. Following the sale, the vice president directly owned 39,619 shares of the company’s stock, valued at approximately $1,559,007.65. The trade was a 10.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 43,569 shares of company stock worth $1,715,897 over the last three months. 1.00% of the stock is currently owned by insiders.

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.