Vanguard Group Inc. Sells 142,617 Shares of Potlatch Corporation $PCH

Vanguard Group Inc. trimmed its holdings in shares of Potlatch Corporation (NASDAQ:PCH) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,520,077 shares of the real estate investment trust’s stock after selling 142,617 shares during the quarter. Vanguard Group Inc. owned approximately 13.61% of Potlatch worth $428,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PCH. State of New Jersey Common Pension Fund D raised its holdings in Potlatch by 2.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 50,416 shares of the real estate investment trust’s stock worth $2,054,000 after purchasing an additional 1,355 shares during the period. BTC Capital Management Inc. bought a new position in shares of Potlatch in the third quarter worth about $216,000. Lynx Investment Advisory purchased a new position in shares of Potlatch during the 3rd quarter valued at about $232,000. Envestnet Asset Management Inc. grew its stake in shares of Potlatch by 182.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 198,210 shares of the real estate investment trust’s stock valued at $8,077,000 after acquiring an additional 127,926 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in Potlatch by 611.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 719 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 618 shares during the period. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Potlatch Stock Up 0.0%

Shares of PCH opened at $41.73 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.96 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $41.78 and a 200 day moving average of $41.29. The company has a market cap of $3.23 billion, a PE ratio of 50.89 and a beta of 1.09. Potlatch Corporation has a 52-week low of $36.82 and a 52-week high of $48.12.

Potlatch Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.3%. Potlatch’s dividend payout ratio is currently 219.51%.

Insiders Place Their Bets

In other news, VP Ashlee Townsend Cribb sold 4,756 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $39.35, for a total transaction of $187,148.60. Following the completion of the sale, the vice president directly owned 39,619 shares of the company’s stock, valued at approximately $1,559,007.65. The trade was a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric J. Cremers sold 24,123 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $39.33, for a total transaction of $948,757.59. Following the completion of the transaction, the chief executive officer owned 296,043 shares in the company, valued at $11,643,371.19. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 43,569 shares of company stock valued at $1,715,897. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PCH shares. Zacks Research raised Potlatch from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $48.00 price target on shares of Potlatch in a report on Monday, November 10th. Bank of America lowered shares of Potlatch from a “buy” rating to an “underperform” rating and cut their price objective for the company from $49.00 to $46.00 in a report on Monday, November 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Potlatch in a report on Thursday, January 22nd. Finally, Citigroup raised their target price on shares of Potlatch from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.83.

Potlatch Profile

PotlatchDeltic Corporation, which trades on the NASDAQ under the ticker PCH, is a real estate investment trust (REIT) specializing in the ownership and sustainable management of timberland. Headquartered in Spokane, Washington, the company holds approximately two million acres of forested land across the United States. Its integrated business model combines timberland stewardship with manufacturing and marketing of wood products to serve residential, agricultural and industrial markets.

In its timberland segment, PotlatchDeltic focuses on responsible forest management practices, including reforestation, habitat conservation and wildfire mitigation.