Potlatch Co. (NASDAQ:PCH) COO Eric J. Cremers sold 9,812 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $54.41, for a total transaction of $533,870.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Potlatch Co. (NASDAQ:PCH) opened at $51.95 on Wednesday. Potlatch Co. has a 52 week low of $42.80 and a 52 week high of $56.35. The firm has a market cap of $2,110.00, a P/E ratio of 24.74, a P/E/G ratio of 3.69 and a beta of 1.39. The company has a current ratio of 2.28, a quick ratio of 1.69 and a debt-to-equity ratio of 2.79.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, March 7th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.08%. The ex-dividend date is Tuesday, March 6th. Potlatch’s payout ratio is currently 76.19%.
A number of institutional investors and hedge funds have recently made changes to their positions in PCH. New York State Common Retirement Fund increased its stake in Potlatch by 18.2% during the 2nd quarter. New York State Common Retirement Fund now owns 48,760 shares of the real estate investment trust’s stock worth $2,228,000 after buying an additional 7,499 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in Potlatch by 10.8% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 8,205 shares of the real estate investment trust’s stock worth $375,000 after buying an additional 800 shares during the period. Janus Henderson Group PLC purchased a new stake in Potlatch during the 2nd quarter worth approximately $954,000. State Street Corp increased its stake in Potlatch by 8.0% during the 2nd quarter. State Street Corp now owns 1,378,999 shares of the real estate investment trust’s stock worth $63,023,000 after buying an additional 102,275 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Potlatch by 1.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 90,029 shares of the real estate investment trust’s stock worth $4,115,000 after buying an additional 879 shares during the period. 85.80% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on PCH shares. Zacks Investment Research downgraded shares of Potlatch from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 25th. DA Davidson boosted their price target on shares of Potlatch to $47.00 and gave the company an “underperform” rating in a research note on Tuesday, October 24th. BidaskClub raised shares of Potlatch from a “sell” rating to a “hold” rating in a research note on Saturday, January 13th. UBS Group raised shares of Potlatch from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. Finally, Raymond James Financial raised shares of Potlatch from a “market perform” rating to an “outperform” rating and set a $54.00 price target on the stock in a research note on Monday, January 8th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $51.17.
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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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