Potlatch Corp. (PCH) Upgraded to Neutral at Bank of America Corp.
PCH has been the topic of several other research reports. DA Davidson cut Potlatch Corp. from a buy rating to a neutral rating and cut their price objective for the company from $56.00 to $40.00 in a research note on Wednesday, July 27th. They noted that the move was a valuation call. TheStreet cut Potlatch Corp. from a buy rating to a hold rating in a research note on Friday, August 26th. Royal Bank Of Canada upped their price objective on Potlatch Corp. from $42.00 to $45.00 and gave the company an outperform rating in a research note on Friday, June 17th. Finally, Zacks Investment Research upgraded Potlatch Corp. from a hold rating to a buy rating and set a $39.00 price objective on the stock in a research note on Tuesday, July 5th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $40.25.
Potlatch Corp. (NASDAQ:PCH) traded down 0.29% during mid-day trading on Monday, hitting $38.48. The company had a trading volume of 26,368 shares. The firm’s market cap is $1.56 billion. The stock’s 50 day moving average price is $38.14 and its 200 day moving average price is $35.39. Potlatch Corp. has a 52-week low of $24.01 and a 52-week high of $39.91.
Potlatch Corp. (NASDAQ:PCH) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.07. Potlatch Corp. had a positive return on equity of 16.52% and a negative net margin of 0.99%. The business had revenue of $141.50 million for the quarter, compared to analysts’ expectations of $128.70 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts predict that Potlatch Corp. will post $1.06 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Tuesday, September 20th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Friday, September 16th. Potlatch Corp.’s dividend payout ratio (DPR) is -1,000.00%.
A number of institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its position in shares of Potlatch Corp. by 4.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,988 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 128 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Potlatch Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,682 shares of the real estate investment trust’s stock worth $194,000 after buying an additional 689 shares during the last quarter. Sterling Investment Management Inc. purchased a new position in shares of Potlatch Corp. during the second quarter worth about $206,000. Bayesian Capital Management LP purchased a new position in shares of Potlatch Corp. during the first quarter worth about $207,000. Finally, Hancock Holding Co. purchased a new position in shares of Potlatch Corp. during the second quarter worth about $210,000. 83.07% of the stock is owned by institutional investors and hedge funds.
About Potlatch Corp.
Potlatch Corporation is a real estate investment trust (REIT). The Company operates through three segments: Resource, Wood Products and Real Estate. The Resource segment management activities include planting and harvesting trees, and building and maintaining roads. Its activities also include hunting leases, recreation permits and leases, mineral rights leases, biomass production and carbon sequestration.
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