State Street Corp Has $63.02 Million Holdings in Potlatch Corporation (PCH)

State Street Corp raised its stake in Potlatch Corporation (NASDAQ:PCH) by 8.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,378,999 shares of the real estate investment trust’s stock after purchasing an additional 102,275 shares during the period. State Street Corp owned about 3.40% of Potlatch Corporation worth $63,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Northwestern Mutual Investment Management Company LLC raised its position in Potlatch Corporation by 0.4% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 7,018 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 30 shares in the last quarter. Arizona State Retirement System raised its position in Potlatch Corporation by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 17,100 shares of the real estate investment trust’s stock valued at $781,000 after purchasing an additional 200 shares in the last quarter. Amalgamated Bank raised its position in Potlatch Corporation by 4.6% in the 2nd quarter. Amalgamated Bank now owns 5,838 shares of the real estate investment trust’s stock valued at $267,000 after purchasing an additional 255 shares in the last quarter. Texas Permanent School Fund raised its position in Potlatch Corporation by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 29,649 shares of the real estate investment trust’s stock valued at $1,355,000 after purchasing an additional 293 shares in the last quarter. Finally, State Treasurer State of Michigan raised its position in Potlatch Corporation by 1.8% in the 2nd quarter. State Treasurer State of Michigan now owns 16,741 shares of the real estate investment trust’s stock valued at $765,000 after purchasing an additional 300 shares in the last quarter. 84.15% of the stock is currently owned by institutional investors.

Shares of Potlatch Corporation (PCH) opened at 51.45 on Tuesday. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 25.46 and a beta of 1.41. The stock’s 50 day moving average price is $50.80 and its 200 day moving average price is $47.45. Potlatch Corporation has a 12 month low of $36.35 and a 12 month high of $56.35.

Potlatch Corporation (NASDAQ:PCH) last released its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.06. Potlatch Corporation had a return on equity of 54.42% and a net margin of 13.54%. The business had revenue of $190.40 million for the quarter, compared to analysts’ expectations of $187.29 million. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts predict that Potlatch Corporation will post $2.40 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.60 annualized dividend and a yield of 3.11%. This is a boost from Potlatch Corporation’s previous quarterly dividend of $0.38. Potlatch Corporation’s dividend payout ratio is presently 69.12%.

A number of research firms have issued reports on PCH. Zacks Investment Research lowered Potlatch Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub raised Potlatch Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, September 27th. Vertical Research lowered Potlatch Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. BMO Capital Markets reaffirmed a “hold” rating on shares of Potlatch Corporation in a research report on Monday, October 23rd. Finally, Bank of America Corporation increased their price target on Potlatch Corporation from $50.00 to $54.00 and gave the company an “underperform” rating in a research report on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Potlatch Corporation presently has an average rating of “Hold” and an average price target of $49.40.

TRADEMARK VIOLATION NOTICE: This article was posted by Community Financial News and is the property of of Community Financial News. If you are accessing this article on another domain, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this article can be viewed at https://www.com-unik.info/2017/10/31/state-street-corp-has-63-02-million-holdings-in-potlatch-corporation-pch.html.

Potlatch Corporation Profile

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.

Want to see what other hedge funds are holding PCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Potlatch Corporation (NASDAQ:PCH).

Institutional Ownership by Quarter for Potlatch Corporation (NASDAQ:PCH)

What are top analysts saying about Potlatch Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Potlatch Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit