Potlatch Corp. (PCH) Downgraded to Hold at Zacks Investment Research
According to Zacks, “Potlatch Corp. is an integrated forest products company with substantial timber resources. It is engaged principally in the growing and harvesting of timber and the manufacture and sale of wood products, printing papers and pulp and paper products. Its timberlands and all of its manufacturing facilities are located within the continental United States. “
A number of other analysts have also commented on the stock. TheStreet lowered shares of Potlatch Corp. from a buy rating to a hold rating in a research report on Friday, August 26th. Bank of America Corp. raised shares of Potlatch Corp. from an underperform rating to a neutral rating in a research report on Monday. Royal Bank Of Canada boosted their price objective on shares of Potlatch Corp. from $42.00 to $45.00 and gave the stock an outperform rating in a research report on Friday, June 17th. Finally, DA Davidson lowered shares of Potlatch Corp. from a buy rating to a neutral rating and cut their price objective for the stock from $56.00 to $40.00 in a research report on Wednesday, July 27th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Potlatch Corp. presently has an average rating of Hold and an average target price of $40.25.
Potlatch Corp. (NASDAQ:PCH) traded down 0.3171% during trading on Tuesday, hitting $37.5705. 15,865 shares of the stock were exchanged. The firm has a 50-day moving average of $38.11 and a 200-day moving average of $35.44. Potlatch Corp. has a 52 week low of $24.01 and a 52 week high of $39.91. The stock’s market capitalization is $1.52 billion.
Potlatch Corp. (NASDAQ:PCH) last announced its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.07. The business had revenue of $141.50 million for the quarter, compared to analyst estimates of $128.70 million. Potlatch Corp. had a negative net margin of 0.99% and a positive return on equity of 16.52%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Equities research analysts anticipate that Potlatch Corp. will post $1.06 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Tuesday, September 20th were paid a $0.375 dividend. The ex-dividend date was Friday, September 16th. This represents a $1.50 annualized dividend and a dividend yield of 3.98%. Potlatch Corp.’s dividend payout ratio (DPR) is presently -1,000.00%.
Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Potlatch Corp. during the fourth quarter valued at approximately $11,375,000. Nisa Investment Advisors L.L.C. increased its position in Potlatch Corp. by 38.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 19,300 shares of the real estate investment trust’s stock valued at $608,000 after buying an additional 5,400 shares during the period. Virginia Retirement System acquired a new position in Potlatch Corp. during the first quarter valued at approximately $438,000. BlackRock Inc. increased its position in Potlatch Corp. by 8.4% in the first quarter. BlackRock Inc. now owns 20,326 shares of the real estate investment trust’s stock valued at $640,000 after buying an additional 1,568 shares during the period. Finally, BlackRock Group LTD increased its position in Potlatch Corp. by 4.1% in the first quarter. BlackRock Group LTD now owns 102,286 shares of the real estate investment trust’s stock valued at $3,222,000 after buying an additional 4,070 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.
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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