Potlatch Corp. (PCH) Research Coverage Started at BMO Capital Markets
BMO Capital Markets assumed coverage on shares of Potlatch Corp. (NASDAQ:PCH) in a report issued on Thursday, The Fly reports. The firm set a “market perform” rating on the real estate investment trust’s stock.
PCH has been the subject of several other research reports. Bank of America Corp. raised Potlatch Corp. from an “underperform” rating to a “neutral” rating in a research note on Monday, October 3rd. DA Davidson downgraded Potlatch Corp. from a “buy” rating to a “neutral” rating and cut their price target for the stock from $56.00 to $40.00 in a research note on Wednesday, July 27th. They noted that the move was a valuation call. TheStreet downgraded shares of Potlatch Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 26th. Royal Bank Of Canada boosted their target price on shares of Potlatch Corp. from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, June 17th. Finally, Zacks Investment Research downgraded shares of Potlatch Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $40.25.
Potlatch Corp. (NASDAQ:PCH) opened at 38.96 on Thursday. The stock’s market cap is $1.58 billion. Potlatch Corp. has a 52 week low of $24.01 and a 52 week high of $39.91. The firm’s 50-day moving average is $38.00 and its 200 day moving average is $35.70.
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Potlatch Corp. (NASDAQ:PCH) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.07. The business earned $141.50 million during the quarter, compared to the consensus estimate of $128.70 million. Potlatch Corp. had a positive return on equity of 16.52% and a negative net margin of 0.99%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.02 EPS. On average, equities research analysts expect that Potlatch Corp. will post $1.05 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Tuesday, September 20th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date was Friday, September 16th. Potlatch Corp.’s dividend payout ratio is currently -1,000.00%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased its position in Potlatch Corp. by 22.2% in the second quarter. FMR LLC now owns 4,198,530 shares of the real estate investment trust’s stock worth $143,169,000 after buying an additional 761,769 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Potlatch Corp. during the second quarter worth approximately $22,753,000. Denver Investment Advisors LLC increased its position in Potlatch Corp. by 733.7% in the second quarter. Denver Investment Advisors LLC now owns 512,046 shares of the real estate investment trust’s stock worth $17,461,000 after buying an additional 450,624 shares in the last quarter. Bank of New York Mellon Corp increased its position in Potlatch Corp. by 35.4% in the second quarter. Bank of New York Mellon Corp now owns 694,968 shares of the real estate investment trust’s stock worth $23,699,000 after buying an additional 181,685 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its position in Potlatch Corp. by 20.5% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 996,028 shares of the real estate investment trust’s stock worth $33,965,000 after buying an additional 169,200 shares in the last quarter. 83.07% of the stock is owned by 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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