Potlatch Corp. (NASDAQ:PCH) Receives $40.67 Consensus Target Price from Analysts
Shares of Potlatch Corp. (NASDAQ:PCH) have been given a consensus rating of “Hold” by the six ratings firms that are currently covering the stock. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $40.67.
PCH has been the subject of a number of analyst reports. TheStreet raised shares of Potlatch Corp. from a “hold” rating to a “buy” rating in a research report on Friday, July 22nd. Zacks Investment Research raised shares of Potlatch Corp. from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Tuesday, July 5th. Royal Bank Of Canada upped their price objective on shares of Potlatch Corp. from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, June 17th. DA Davidson cut shares of Potlatch Corp. from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $56.00 to $40.00 in a research report on Wednesday, July 27th. They noted that the move was a valuation call. Finally, Bank of America Corp. raised shares of Potlatch Corp. from an “underperform” rating to a “neutral” rating in a research report on Monday.
Several institutional investors have recently modified their holdings of PCH. Public Employees Retirement System of Ohio boosted 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 valued at $102,000 after buying an additional 128 shares during the last quarter. Teacher Retirement System of Texas boosted 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 valued at $194,000 after buying an additional 689 shares during the last quarter. Sterling Investment Management Inc. bought a new position in shares of Potlatch Corp. during the second quarter valued at approximately $206,000. Bayesian Capital Management LP bought a new position in shares of Potlatch Corp. during the first quarter valued at approximately $207,000. Finally, Hancock Holding Co. bought a new position in shares of Potlatch Corp. during the second quarter valued at approximately $210,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.
Potlatch Corp. (NASDAQ:PCH) opened at 37.46 on Tuesday. The company has a 50-day moving average price of $38.04 and a 200 day moving average price of $35.46. Potlatch Corp. has a 12 month low of $24.01 and a 12 month high of $39.91. The firm’s market cap is $1.52 billion.
Potlatch Corp. (NASDAQ:PCH) last announced its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. Potlatch Corp. had a negative net margin of 0.99% and a positive return on equity of 16.52%. The firm earned $141.50 million during the quarter, compared to analysts’ expectations of $128.70 million. During the same period in the prior year, the company earned $0.02 EPS. The firm’s revenue was up 9.9% on a year-over-year basis. Equities research analysts anticipate that Potlatch Corp. will post $1.05 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Tuesday, September 20th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, September 16th. This represents a $1.50 annualized dividend and a dividend yield of 4.00%. Potlatch Corp.’s payout ratio is -1,000.00%.
Potlatch Corp. Company Profile
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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