Potlatch Co. (NASDAQ:PCH) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 2,040,298 shares, a decline of 40.9% from the February 15th total of 3,454,886 shares. Based on an average daily volume of 1,172,358 shares, the days-to-cover ratio is presently 1.7 days. Approximately 5.1% of the company’s stock are sold short.
In other news, CEO Michael J. Covey sold 19,414 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $54.41, for a total value of $1,056,315.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas J. Temple sold 2,401 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $54.41, for a total transaction of $130,638.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,283 shares of company stock valued at $8,566,098. Company insiders own 1.52% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Wealthcare Advisory Partners LLC purchased a new stake in Potlatch during the 3rd quarter worth approximately $142,000. Xact Kapitalforvaltning AB purchased a new stake in Potlatch during the 4th quarter worth approximately $206,000. DekaBank Deutsche Girozentrale purchased a new stake in Potlatch during the 3rd quarter worth approximately $206,000. Globeflex Capital L P purchased a new stake in Potlatch during the 4th quarter worth approximately $240,000. Finally, Elkfork Partners LLC purchased a new stake in Potlatch during the 4th quarter worth approximately $264,000. 88.49% of the stock is currently owned by institutional investors.
Potlatch (NASDAQ:PCH) opened at $50.55 on Monday. The company has a debt-to-equity ratio of 2.79, a quick ratio of 1.91 and a current ratio of 2.58. The company has a market cap of $2,052.89, a P/E ratio of 20.80, a P/E/G ratio of 3.39 and a beta of 1.36. Potlatch has a 52 week low of $42.85 and a 52 week high of $56.35.
Potlatch (NASDAQ:PCH) last posted its quarterly earnings data on Monday, January 29th. The real estate investment trust reported $0.54 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.06). The firm had revenue of $175.24 million for the quarter, compared to the consensus estimate of $170.54 million. Potlatch had a return on equity of 55.47% and a net margin of 12.74%. analysts forecast that Potlatch will post 2.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Wednesday, March 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.17%. The ex-dividend date is Tuesday, March 6th. Potlatch’s dividend payout ratio is presently 76.19%.
PotlatchDeltic Corp, formerly Potlatch Corporation, is a real estate investment trust (REIT), which is primarily engaged in activities associated with timberland management, including the sale of timber, management of timberlands, and purchase and sale of timberlands. The Company is also engaged in the manufacture and sale of wood products.
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