ProShare Advisors LLC Reduces Stake in Potlatch Corporation (PCH)
ProShare Advisors LLC lowered its position in shares of Potlatch Corporation (NASDAQ:PCH) by 10.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,160 shares of the real estate investment trust’s stock after selling 1,931 shares during the quarter. ProShare Advisors LLC’s holdings in Potlatch Corporation were worth $784,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of PCH. BlackRock Inc. raised its position in shares of Potlatch Corporation by 1.6% in the second quarter. BlackRock Inc. now owns 4,839,675 shares of the real estate investment trust’s stock valued at $221,173,000 after buying an additional 75,874 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Potlatch Corporation by 6.6% in the first quarter. Vanguard Group Inc. now owns 3,428,535 shares of the real estate investment trust’s stock valued at $156,684,000 after buying an additional 211,513 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Potlatch Corporation by 3.2% in the first quarter. Renaissance Technologies LLC now owns 1,528,553 shares of the real estate investment trust’s stock valued at $69,855,000 after buying an additional 47,453 shares during the period. State Street Corp boosted its stake in shares of Potlatch Corporation by 0.8% in the first quarter. State Street Corp now owns 1,276,724 shares of the real estate investment trust’s stock valued at $58,350,000 after buying an additional 9,887 shares during the period. Finally, Wellington Management Group LLP grew its position in Potlatch Corporation by 38.7% during the first quarter. Wellington Management Group LLP now owns 1,229,747 shares of the real estate investment trust’s stock worth $56,200,000 after buying an additional 343,231 shares in the last quarter. 83.25% of the stock is owned by institutional investors.
A number of equities research analysts recently issued reports on the company. BidaskClub upgraded Potlatch Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Potlatch Corporation in a report on Monday, July 31st. Zacks Investment Research upgraded Potlatch Corporation from a “sell” rating to a “hold” rating and set a $56.00 target price for the company in a research report on Friday, July 28th. BMO Capital Markets reiterated a “hold” rating and set a $40.00 target price on shares of Potlatch Corporation in a research report on Thursday, July 20th. Finally, Raymond James Financial, Inc. downgraded Potlatch Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Potlatch Corporation presently has a consensus rating of “Hold” and a consensus price target of $45.80.
Potlatch Corporation (NASDAQ:PCH) opened at 51.00 on Monday. Potlatch Corporation has a 52 week low of $36.35 and a 52 week high of $51.40. The company has a market capitalization of $2.07 billion, a PE ratio of 25.24 and a beta of 1.41. The company has a 50-day moving average of $46.96 and a 200-day moving average of $46.12.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a dividend of $0.375 per share. The ex-dividend date was Thursday, September 14th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.94%. Potlatch Corporation’s payout ratio is 73.89%.
WARNING: This report was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://www.thecerbatgem.com/2017/10/02/proshare-advisors-llc-reduces-stake-in-potlatch-corporation-pch.html.
Potlatch Corporation Company Profile
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.
Receive News & Stock Ratings for Potlatch Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Potlatch Corporation and related stocks with our FREE daily email newsletter.