Granite Investment Partners LLC Sells 18,954 Shares of Potlatch Corporation $PCH

Granite Investment Partners LLC lessened its holdings in Potlatch Corporation (NASDAQ:PCH) by 21.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,150 shares of the real estate investment trust’s stock after selling 18,954 shares during the period. Granite Investment Partners LLC owned approximately 0.09% of Potlatch worth $2,899,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Potlatch in the 2nd quarter valued at approximately $217,543,000. Legal & General Group Plc grew its position in Potlatch by 13.9% in the second quarter. Legal & General Group Plc now owns 2,819,875 shares of the real estate investment trust’s stock valued at $108,199,000 after acquiring an additional 344,553 shares during the period. Westwood Holdings Group Inc. raised its stake in Potlatch by 19.8% during the second quarter. Westwood Holdings Group Inc. now owns 2,792,075 shares of the real estate investment trust’s stock worth $107,132,000 after acquiring an additional 461,356 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Potlatch by 74.3% during the second quarter. Ameriprise Financial Inc. now owns 1,027,190 shares of the real estate investment trust’s stock worth $39,413,000 after acquiring an additional 438,032 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Potlatch by 20.5% during the second quarter. Sei Investments Co. now owns 464,044 shares of the real estate investment trust’s stock valued at $17,805,000 after acquiring an additional 78,900 shares during the period. 86.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PCH has been the topic of several analyst reports. Citigroup upped their target price on shares of Potlatch from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Potlatch in a research note on Thursday, January 22nd. DA Davidson reaffirmed a “neutral” rating and set a $40.00 price objective (down previously from $54.00) on shares of Potlatch in a report on Thursday, November 13th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $48.00 target price on shares of Potlatch in a research note on Monday, November 10th. Finally, Bank of America downgraded Potlatch from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $49.00 to $46.00 in a report on Monday, November 17th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.83.

Potlatch Trading Up 0.0%

PCH opened at $41.73 on Tuesday. Potlatch Corporation has a 1-year low of $36.82 and a 1-year high of $48.12. The stock has a market capitalization of $3.23 billion, a PE ratio of 50.89 and a beta of 1.09. The company has a current ratio of 1.96, a quick ratio of 1.26 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $41.75 and a two-hundred day moving average price of $41.29.

Potlatch Announces Dividend

The business also recently disclosed 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 was Monday, December 15th. Potlatch’s payout ratio is 219.51%.

Insider Activity

In other Potlatch news, VP Michele Tyler sold 4,343 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $39.36, for a total value of $170,940.48. Following the transaction, the vice president directly owned 42,184 shares in the company, valued at approximately $1,660,362.24. This trade represents a 9.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Darin Robert Ball sold 4,127 shares of Potlatch stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $39.30, for a total value of $162,191.10. Following the completion of the sale, the vice president directly owned 49,054 shares of the company’s stock, valued at $1,927,822.20. This trade represents a 7.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 43,569 shares of company stock worth $1,715,897. 1.00% of the stock is owned by company insiders.

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.