Potlatch Corporation (PCH) Position Lowered by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA decreased its stake in Potlatch Corporation (NASDAQ:PCH) by 86.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,657 shares of the real estate investment trust’s stock after selling 117,749 shares during the period. BNP Paribas Arbitrage SA’s holdings in Potlatch were worth $952,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. D.A. Davidson & CO. increased its holdings in Potlatch by 19.4% during the 2nd quarter. D.A. Davidson & CO. now owns 2,600 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 423 shares in the last quarter. LS Investment Advisors LLC increased its holdings in Potlatch by 18.2% during the 2nd quarter. LS Investment Advisors LLC now owns 3,140 shares of the real estate investment trust’s stock valued at $143,000 after acquiring an additional 483 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in Potlatch by 75.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,331 shares of the real estate investment trust’s stock valued at $152,000 after acquiring an additional 1,431 shares in the last quarter. Flinton Capital Management LLC increased its holdings in Potlatch by 68.8% during the 2nd quarter. Flinton Capital Management LLC now owns 4,420 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 1,802 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new position in Potlatch during the 2nd quarter valued at about $210,000. Hedge funds and other institutional investors own 84.77% of the company’s stock.
Several equities analysts have weighed in on PCH shares. BidaskClub downgraded shares of Potlatch from a “buy” rating to a “hold” rating in a report on Saturday, October 7th. Zacks Investment Research downgraded shares of Potlatch from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 25th. DA Davidson raised their target price on shares of Potlatch to $47.00 and gave the company an “underperform” rating in a report on Tuesday, October 24th. BMO Capital Markets restated a “hold” rating on shares of Potlatch in a report on Monday, October 23rd. Finally, Bank of America raised their target price on shares of Potlatch from $50.00 to $54.00 and gave the company an “underperform” rating in a report on Wednesday, October 25th. Four research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Potlatch currently has a consensus rating of “Hold” and an average price target of $49.40.
Shares of Potlatch Corporation (NASDAQ PCH) traded up $0.10 during midday trading on Friday, hitting $51.70. 538,687 shares of the stock were exchanged, compared to its average volume of 424,140. The stock has a market capitalization of $2,095.52, a P/E ratio of 23.04, a PEG ratio of 4.32 and a beta of 1.44. Potlatch Corporation has a 1-year low of $39.05 and a 1-year high of $56.35. The company has a current ratio of 2.17, a quick ratio of 1.72 and a debt-to-equity ratio of 2.92.
Potlatch (NASDAQ:PCH) last issued its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $190.40 million during the quarter, compared to the consensus estimate of $187.29 million. Potlatch had a net margin of 13.54% and a return on equity of 54.42%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share. analysts expect that Potlatch Corporation will post 2.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, December 7th. This is an increase from Potlatch’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.09%. Potlatch’s payout ratio is 69.12%.
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Potlatch 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.
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