JPMorgan Chase & Co. grew its stake in Potlatch Corporation (NASDAQ:PCH) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 571,676 shares of the real estate investment trust’s stock after acquiring an additional 13,584 shares during the period. JPMorgan Chase & Co. owned 1.41% of Potlatch worth $29,298,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in PCH. BlackRock Inc. lifted its stake in Potlatch by 1.6% in the 2nd quarter. BlackRock Inc. now owns 4,839,675 shares of the real estate investment trust’s stock valued at $221,173,000 after purchasing an additional 75,874 shares during the last quarter. Vanguard Group Inc. lifted its stake in Potlatch by 7.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,680,147 shares of the real estate investment trust’s stock valued at $168,183,000 after purchasing an additional 251,612 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Potlatch by 3.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,588,200 shares of the real estate investment trust’s stock valued at $72,581,000 after purchasing an additional 59,647 shares during the last quarter. State Street Corp lifted its stake in Potlatch by 8.0% in the 2nd quarter. State Street Corp now owns 1,378,999 shares of the real estate investment trust’s stock valued at $63,023,000 after purchasing an additional 102,275 shares during the last quarter. Finally, Pictet Asset Management Ltd. lifted its stake in Potlatch by 8.5% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,105,370 shares of the real estate investment trust’s stock valued at $56,374,000 after purchasing an additional 86,425 shares during the last quarter. Institutional investors own 84.78% of the company’s stock.
In other news, VP William R. Dereu sold 4,720 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $52.50, for a total transaction of $247,800.00. Following the transaction, the vice president now directly owns 26,142 shares of the company’s stock, valued at $1,372,455. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is currently owned by company insiders.
PCH has been the subject of several recent analyst reports. BidaskClub upgraded shares of Potlatch from a “hold” rating to a “buy” rating in a research note on Friday, October 13th. Zacks Investment Research downgraded shares of Potlatch from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 25th. BMO Capital Markets restated a “hold” rating on shares of Potlatch in a research report on Monday, October 23rd. Vertical Research downgraded shares of Potlatch from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Finally, Bank of America raised their price objective on shares of Potlatch from $50.00 to $54.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 25th. Four analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Potlatch currently has a consensus rating of “Hold” and an average target price of $49.40.
Shares of Potlatch Corporation (PCH) opened at $50.85 on Thursday. The company has a current ratio of 2.17, a quick ratio of 1.72 and a debt-to-equity ratio of 2.92. The stock has a market cap of $2,070.00, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 4.26 and a beta of 1.44. Potlatch Corporation has a 1 year low of $39.05 and a 1 year high of $56.35.
Potlatch (NASDAQ:PCH) last issued its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.06. The firm had revenue of $190.40 million during the quarter, compared to the consensus estimate of $187.29 million. Potlatch had a net margin of 13.54% and a return on equity of 54.42%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. sell-side analysts anticipate that Potlatch Corporation will post 2.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, December 7th. This is an increase from Potlatch’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 3.15%. Potlatch’s dividend payout ratio (DPR) is 74.07%.
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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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