Potlatch (NASDAQ:PCH) Announces Earnings Results

Potlatch (NASDAQ:PCH) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.21, Zacks reports. The firm had revenue of $314.18 million for the quarter, compared to the consensus estimate of $308.13 million. Potlatch had a net margin of 3.94% and a return on equity of 2.10%.

Potlatch Stock Performance

Potlatch stock opened at $38.95 on Wednesday. The stock has a 50-day simple moving average of $41.33 and a 200 day simple moving average of $40.56. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. Potlatch has a 12-month low of $36.82 and a 12-month high of $48.12. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 73.49 and a beta of 1.11.

Potlatch Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, September 15th. Potlatch’s payout ratio is currently 219.51%.

Analyst Ratings Changes

A number of research firms recently weighed in on PCH. Weiss Ratings reissued a “hold (c)” rating on shares of Potlatch in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Potlatch from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Truist Financial reduced their target price on shares of Potlatch from $52.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Zacks Research downgraded shares of Potlatch from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Finally, Citigroup restated a “neutral” rating and issued a $45.00 target price (down previously from $49.00) on shares of Potlatch in a research note on Wednesday, October 15th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $49.20.

Hedge Funds Weigh In On Potlatch

A number of large investors have recently modified their holdings of PCH. United Services Automobile Association acquired a new position in shares of Potlatch during the first quarter worth approximately $204,000. Captrust Financial Advisors lifted its position in shares of Potlatch by 12.9% during the second quarter. Captrust Financial Advisors now owns 7,324 shares of the real estate investment trust’s stock worth $281,000 after purchasing an additional 838 shares in the last quarter. Focus Partners Wealth raised its holdings in Potlatch by 8.9% during the 1st quarter. Focus Partners Wealth now owns 6,920 shares of the real estate investment trust’s stock worth $312,000 after purchasing an additional 565 shares during the last quarter. Osaic Holdings Inc. raised its holdings in Potlatch by 27.5% during the 2nd quarter. Osaic Holdings Inc. now owns 9,887 shares of the real estate investment trust’s stock worth $386,000 after purchasing an additional 2,131 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Potlatch during the 2nd quarter worth about $471,000. 86.06% of the stock is currently owned by institutional investors and hedge funds.

About Potlatch

PotlatchDeltic Corporation (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.