Picton Mahoney Asset Management Makes New Investment in Potlatch Corporation $PCH

Picton Mahoney Asset Management bought a new position in shares of Potlatch Corporation (NASDAQ:PCH) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 25,745 shares of the real estate investment trust’s stock, valued at approximately $1,049,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Potlatch in the second quarter valued at about $217,543,000. Westwood Holdings Group Inc. increased its holdings in Potlatch by 19.8% in the second quarter. Westwood Holdings Group Inc. now owns 2,792,075 shares of the real estate investment trust’s stock valued at $107,132,000 after buying an additional 461,356 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Potlatch by 74.3% in the second quarter. Ameriprise Financial Inc. now owns 1,027,190 shares of the real estate investment trust’s stock valued at $39,413,000 after buying an additional 438,032 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Potlatch by 13.9% during the 2nd 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. Finally, Edgestream Partners L.P. purchased a new stake in shares of Potlatch during the 2nd quarter worth approximately $7,653,000. 86.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Potlatch

In other Potlatch news, CEO Eric J. Cremers sold 24,123 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $39.33, for a total transaction of $948,757.59. Following the sale, the chief executive officer directly owned 296,043 shares of the company’s stock, valued at $11,643,371.19. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP William R. Dereu sold 3,278 shares of Potlatch stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $39.33, for a total transaction of $128,923.74. Following the sale, the vice president owned 73,845 shares of the company’s stock, valued at approximately $2,904,323.85. This trade represents a 4.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 43,569 shares of company stock valued at $1,715,897. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PCH. DA Davidson restated a “neutral” rating and issued a $40.00 price target (down from $54.00) on shares of Potlatch in a report on Thursday, November 13th. Bank of America downgraded Potlatch from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $49.00 to $46.00 in a research report on Monday, November 17th. Zacks Research upgraded Potlatch from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. 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 research note on Thursday, January 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Potlatch in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.83.

Potlatch Price Performance

Shares of NASDAQ:PCH opened at $41.73 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.26 and a current ratio of 1.96. The business’s fifty day moving average price is $42.02 and its two-hundred day moving average price is $41.24. The stock has a market cap of $3.23 billion, a PE ratio of 50.89 and a beta of 1.09. Potlatch Corporation has a one year low of $36.82 and a one year high of $48.12.

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.