Bank of America Corporation Raises Potlatch Corporation (PCH) Price Target to $54.00

Potlatch Corporation (NASDAQ:PCH) had its target price raised by Bank of America Corporation from $50.00 to $54.00 in a report published on Wednesday morning. Bank of America Corporation currently has an underperform rating on the real estate investment trust’s stock.

Other equities analysts have also issued reports about the stock. BidaskClub upgraded shares of Potlatch Corporation from a hold rating to a buy rating in a research report on Wednesday, June 28th. Royal Bank Of Canada reiterated a hold rating and issued a $47.00 price target on shares of Potlatch Corporation in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of Potlatch Corporation from a sell rating to a hold rating and set a $56.00 price target for the company in a research report on Friday, July 28th. Finally, BMO Capital Markets reiterated a hold rating and issued a $40.00 price target on shares of Potlatch Corporation in a research report on Thursday, July 20th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Potlatch Corporation currently has a consensus rating of Hold and an average price target of $49.40.

Shares of Potlatch Corporation (NASDAQ:PCH) traded down 0.19% on Wednesday, reaching $51.80. 532,156 shares of the company’s stock traded hands. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 25.63 and a beta of 1.41. Potlatch Corporation has a 52-week low of $36.35 and a 52-week high of $56.35. The firm’s 50-day moving average is $50.72 and its 200-day moving average is $47.40.

Potlatch Corporation (NASDAQ:PCH) last posted its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $0.94 earnings per share for the quarter, topping the Zacks’ 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 Corporation had a net margin of 13.54% and a return on equity of 54.42%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. Analysts anticipate that Potlatch Corporation will post $2.40 EPS for the current fiscal year.

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The business 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 dividend on an annualized basis and a dividend yield of 3.09%. Potlatch Corporation’s dividend payout ratio is currently 69.12%.

A number of hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Investment Management Company LLC lifted its position in Potlatch Corporation by 0.4% during the second 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 during the last quarter. Advantus Capital Management Inc lifted its position in Potlatch Corporation by 3.1% during the first quarter. Advantus Capital Management Inc now owns 5,191 shares of the real estate investment trust’s stock valued at $237,000 after purchasing an additional 156 shares during the last quarter. Arizona State Retirement System lifted its position in Potlatch Corporation by 1.2% during the second 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 during the last quarter. Amalgamated Bank lifted its position in Potlatch Corporation by 4.6% during the second 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 during the last quarter. Finally, Texas Permanent School Fund lifted its position in Potlatch Corporation by 1.0% during the second 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 during the last quarter. Institutional investors and hedge funds own 83.43% of the company’s stock.

About Potlatch Corporation

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.

Analyst Recommendations for Potlatch Corporation (NASDAQ:PCH)

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