USA Financial Portformulas Corp bought a new stake in shares of Potlatch Corporation (NASDAQ:PCH) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,853 shares of the real estate investment trust’s stock, valued at approximately $496,000.
A number of other large investors also recently made changes to their positions in PCH. D.A. Davidson & CO. grew its stake in shares of Potlatch Corporation by 19.4% during the second quarter. D.A. Davidson & CO. now owns 2,600 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 423 shares in the last quarter. LS Investment Advisors LLC grew its stake 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 in the last quarter. Riverhead Capital Management LLC grew its stake 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 in the last quarter. Flinton Capital Management LLC grew its stake 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 in the last quarter. Finally, First City Capital Management Inc. acquired a new position in Potlatch Corporation in the first quarter worth about $206,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.
Shares of Potlatch Corporation (PCH) traded down 0.19% during trading on Friday, reaching $51.80. 532,156 shares of the company traded hands. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 25.63 and a beta of 1.41. Potlatch Corporation has a 12-month low of $36.35 and a 12-month high of $56.35. The company has a 50 day moving average price of $50.51 and a 200 day moving average price of $47.34.
Potlatch Corporation (NASDAQ:PCH) last released its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.06. Potlatch Corporation had a net margin of 13.54% and a return on equity of 54.42%. The business had revenue of $190.40 million for the quarter, compared to the consensus estimate of $187.29 million. During the same period in the prior year, the firm earned $0.68 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. On average, equities analysts predict that Potlatch Corporation will post $2.40 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Thursday, December 7th. This is a positive change from Potlatch Corporation’s previous quarterly dividend of $0.38. Potlatch Corporation’s payout ratio is currently 69.12%.
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A number of research firms have recently weighed in on PCH. BidaskClub cut Potlatch Corporation from a “buy” rating to a “hold” rating in a report on Saturday, October 7th. DA Davidson boosted their target price on Potlatch Corporation to $47.00 and gave the stock an “underperform” rating in a report on Tuesday. Zacks Investment Research cut Potlatch Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets restated a “hold” rating and issued a $40.00 price target on shares of Potlatch Corporation in a research report on Thursday, July 20th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $47.00 price target on shares of Potlatch Corporation in a research report on Monday, July 31st. Three analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Potlatch Corporation currently has a consensus rating of “Hold” and an average price target of $49.40.
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.
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