Potlatch Corp. (PCH) Rating Lowered to Neutral at Buckingham Research
Potlatch Corp. (NASDAQ:PCH) was downgraded by equities research analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a note issued to investors on Monday. They presently have a $42.00 price target on the real estate investment trust’s stock. Buckingham Research’s price target suggests a potential upside of 8.25% from the stock’s current price.
A number of other equities research analysts have also weighed in on PCH. BMO Capital Markets assumed coverage on shares of Potlatch Corp. in a research note on Thursday, October 13th. They set a “market perform” rating and a $36.00 target price for the company. Zacks Investment Research lowered shares of Potlatch Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Bank of America Corp. upgraded shares of Potlatch Corp. from an “underperform” rating to a “neutral” rating in a research note on Monday, October 3rd. TheStreet lowered shares of Potlatch Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Finally, DA Davidson lowered shares of Potlatch Corp. from a “buy” rating to a “neutral” rating and decreased their target price 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. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Potlatch Corp. presently has an average rating of “Hold” and an average price target of $39.83.
Shares of Potlatch Corp. (NASDAQ:PCH) opened at 38.80 on Monday. Potlatch Corp. has a 52 week low of $24.01 and a 52 week high of $39.91. The stock’s market capitalization is $1.57 billion. The stock has a 50 day moving average price of $38.06 and a 200 day moving average price of $35.95.
Potlatch Corp. (NASDAQ:PCH) last announced its quarterly earnings data 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 company earned $141.50 million during the quarter, compared to analyst estimates of $128.70 million. During the same period in the previous year, the business earned $0.02 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities research analysts expect that Potlatch Corp. will post $1.05 EPS for the current year.
The firm also recently disclosed 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. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend was Friday, September 16th. Potlatch Corp.’s payout ratio is -1,000.00%.
Several large investors have recently modified their holdings of PCH. Nisa Investment Advisors LLC increased its stake in shares of Potlatch Corp. by 24.5% in the third quarter. Nisa Investment Advisors LLC now owns 20,300 shares of the real estate investment trust’s stock worth $789,000 after buying an additional 4,000 shares during the last quarter. First National Bank of Omaha increased its position in shares of Potlatch Corp. by 1.4% in the third quarter. First National Bank of Omaha now owns 8,882 shares of the real estate investment trust’s stock valued at $345,000 after buying an additional 125 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Potlatch Corp. by 2.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 13,888 shares of the real estate investment trust’s stock valued at $540,000 after buying an additional 280 shares in the last quarter. Mason Street Advisors LLC purchased a new position in shares of Potlatch Corp. during the second quarter valued at $633,000. Finally, Royal Bank of Canada increased its position in shares of Potlatch Corp. by 15.1% in the second quarter. Royal Bank of Canada now owns 148,733 shares of the real estate investment trust’s stock valued at $5,072,000 after buying an additional 19,494 shares in the last quarter. 83.04% of the stock is owned by hedge funds and other institutional investors.
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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