Zacks Investment Research downgraded shares of Potlatch (NASDAQ:PCH) from a buy rating to a hold rating in a report published on Friday.
According to Zacks, “Potlatch Corporation is a Real Estate Investment Trust (REIT) with approximately 1.4 million acres of timberland in Alabama, Arkansas, Idaho, Minnesota and Mississippi. Potlatch, a certified forest practices leader, is committed to providing superior returns to stockholders through long-term stewardship of its forest resources. The company also conducts a land sales and development business and operates wood products manufacturing facilities through its taxable REIT subsidiary. “
Other equities research analysts have also issued reports about the company. BidaskClub upgraded Potlatch from a hold rating to a buy rating in a report on Friday, October 13th. BMO Capital Markets reissued a hold rating on shares of Potlatch in a research note on Monday, October 23rd. Bank of America raised Potlatch from an underperform rating to a neutral rating and set a $54.00 price objective on the stock in a research note on Tuesday, January 2nd. Vertical Research downgraded Potlatch from a hold rating to a sell rating in a research note on Wednesday, October 4th. Finally, DA Davidson raised their price objective on Potlatch to $47.00 and gave the company an underperform rating in a research note on Tuesday, October 24th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $49.67.
Potlatch (NASDAQ:PCH) last announced its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.06. The business had revenue of $190.40 million during the quarter, compared to analyst estimates of $187.29 million. Potlatch had a return on equity of 54.42% and a net margin of 13.54%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. equities research analysts predict that Potlatch will post 2.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.10%. This is an increase from Potlatch’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, December 7th. Potlatch’s dividend payout ratio (DPR) is presently 74.07%.
In related news, VP William R. Dereu sold 4,720 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $52.50, for a total value of $247,800.00. Following the transaction, the vice president now directly owns 26,142 shares of the company’s stock, valued at approximately $1,372,455. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP bought a new position in Potlatch in the 3rd quarter worth approximately $429,000. Wealthcare Advisory Partners LLC bought a new position in Potlatch in the 3rd quarter worth approximately $142,000. California Public Employees Retirement System increased its position in Potlatch by 3.2% in the 3rd quarter. California Public Employees Retirement System now owns 111,612 shares of the real estate investment trust’s stock worth $5,692,000 after buying an additional 3,512 shares during the period. Convergence Investment Partners LLC bought a new position in Potlatch in the 3rd quarter worth approximately $1,343,000. Finally, Invictus RG increased its position in Potlatch by 188.9% in the 3rd quarter. Invictus RG now owns 7,009 shares of the real estate investment trust’s stock worth $357,000 after buying an additional 4,583 shares during the period. 84.79% of the stock is currently owned by institutional investors.
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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