Pictet Asset Management Ltd. increased its position in Potlatch Corporation (NASDAQ:PCH) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,105,370 shares of the real estate investment trust’s stock after purchasing an additional 86,425 shares during the quarter. Pictet Asset Management Ltd. owned approximately 2.72% of Potlatch Corporation worth $56,374,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. D.A. Davidson & CO. increased its position in Potlatch Corporation by 19.4% in the second quarter. D.A. Davidson & CO. now owns 2,600 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 423 shares during the period. LS Investment Advisors LLC increased its position in Potlatch Corporation by 18.2% in the second quarter. LS Investment Advisors LLC now owns 3,140 shares of the real estate investment trust’s stock worth $143,000 after purchasing an additional 483 shares during the period. Riverhead Capital Management LLC increased its position in Potlatch Corporation by 75.3% in the second quarter. Riverhead Capital Management LLC now owns 3,331 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 1,431 shares during the period. Flinton Capital Management LLC increased its position in Potlatch Corporation by 68.8% in the second quarter. Flinton Capital Management LLC now owns 4,420 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 1,802 shares during the period. Finally, Laurion Capital Management LP acquired a new stake in Potlatch Corporation in the second quarter worth about $210,000. Hedge funds and other institutional investors own 84.15% of the company’s stock.
A number of analysts recently commented on PCH shares. BMO Capital Markets reiterated a “hold” rating and issued a $40.00 price objective on shares of Potlatch Corporation in a research report on Thursday, July 20th. BidaskClub cut Potlatch Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Zacks Investment Research upgraded Potlatch Corporation from a “sell” rating to a “hold” rating and set a $56.00 target price on the stock in a report on Friday, July 28th. Vertical Research cut Potlatch Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $47.00 target price on shares of Potlatch Corporation in a report on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $49.40.
Potlatch Corporation (NASDAQ:PCH) last announced its earnings results on Monday, October 23rd. The real estate investment trust reported $0.94 EPS for the quarter, beating the 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 company had revenue of $190.40 million for the quarter, compared to analyst estimates of $187.29 million. During the same quarter in the prior year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be given a dividend of $0.40 per share. This is a positive change from Potlatch Corporation’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, December 7th. This represents a $1.60 annualized dividend and a dividend yield of 3.09%. Potlatch Corporation’s dividend payout ratio is presently 69.12%.
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.
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