Bank of New York Mellon Corp boosted its stake in Potlatch Co. (NASDAQ:PCH) by 12.3% during the 4th quarter, HoldingsChannel reports. The fund owned 773,941 shares of the real estate investment trust’s stock after acquiring an additional 85,048 shares during the quarter. Bank of New York Mellon Corp’s holdings in Potlatch were worth $38,619,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. American Century Companies Inc. lifted its position in Potlatch by 43.6% in the 4th quarter. American Century Companies Inc. now owns 1,258,456 shares of the real estate investment trust’s stock valued at $62,797,000 after acquiring an additional 382,281 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Potlatch by 0.5% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 825,451 shares of the real estate investment trust’s stock valued at $42,098,000 after acquiring an additional 4,504 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Potlatch by 2.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 571,676 shares of the real estate investment trust’s stock worth $29,298,000 after buying an additional 13,584 shares in the last quarter. Principal Financial Group Inc. lifted its position in Potlatch by 112.4% during the 3rd quarter. Principal Financial Group Inc. now owns 369,872 shares of the real estate investment trust’s stock worth $18,863,000 after buying an additional 195,726 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Potlatch by 10.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 299,992 shares of the real estate investment trust’s stock worth $15,299,000 after buying an additional 28,331 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Thomas J. Temple sold 2,401 shares of the company’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 $130,638.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas J. Temple sold 7,204 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $52.01, for a total transaction of $374,680.04. Following the completion of the transaction, the vice president now owns 36,962 shares in the company, valued at approximately $1,922,393.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,283 shares of company stock worth $8,566,098. 1.52% of the stock is owned by insiders.
Shares of Potlatch Co. (NASDAQ PCH) opened at $51.45 on Tuesday. The company has a quick ratio of 1.91, a current ratio of 2.58 and a debt-to-equity ratio of 2.79. The stock has a market cap of $2,090.00, a PE ratio of 21.80, a PEG ratio of 3.39 and a beta of 1.36. Potlatch Co. has a fifty-two week low of $42.85 and a fifty-two week high of $56.35.
Potlatch (NASDAQ:PCH) last issued its earnings results on Monday, January 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.06). The firm had revenue of $175.24 million during the quarter, compared to the consensus estimate of $170.54 million. Potlatch had a net margin of 12.74% and a return on equity of 55.47%. analysts predict that Potlatch Co. will post 2.98 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Wednesday, March 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.11%. Potlatch’s payout ratio is 67.80%.
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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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