Potlatch Corp. (PCH) Lowered to Neutral at Buckingham Research
Potlatch Corp. (NASDAQ:PCH) was downgraded by research analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a research report issued on Monday, The Fly reports.
A number of other brokerages have also recently weighed in on PCH. TheStreet upgraded shares of Potlatch Corp. from a “hold” rating to a “buy” rating in a research note on Friday, July 22nd. Zacks Investment Research raised Potlatch Corp. from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, July 5th. BMO Capital Markets initiated coverage on Potlatch Corp. in a report on Thursday. They set a “market perform” rating and a $36.00 target price on the stock. DA Davidson lowered Potlatch Corp. from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $56.00 to $40.00 in a report on Wednesday, July 27th. They noted that the move was a valuation call. Finally, Bank of America Corp. raised Potlatch Corp. from an “underperform” rating to a “neutral” rating in a report on Monday, October 3rd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $39.40.
Potlatch Corp. (NASDAQ:PCH) traded down 0.48% during trading on Monday, hitting $39.10. 26,721 shares of the stock were exchanged. The company’s market cap is $1.58 billion. Potlatch Corp. has a one year low of $24.01 and a one year high of $39.91. The stock’s 50 day moving average is $38.01 and its 200-day moving average is $35.78.
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Potlatch Corp. (NASDAQ:PCH) last issued its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. Potlatch Corp. had a negative net margin of 0.99% and a positive return on equity of 16.52%. The business had revenue of $141.50 million for the quarter, compared to analysts’ expectations of $128.70 million. During the same period in the previous year, the business earned $0.02 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. On average, equities research analysts expect that Potlatch Corp. will post $1.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Tuesday, September 20th were paid a $0.375 dividend. The ex-dividend date of this dividend was Friday, September 16th. This represents a $1.50 dividend on an annualized basis and a yield of 3.82%. Potlatch Corp.’s dividend payout ratio is currently -1,000.00%.
A number of institutional investors have recently modified their holdings of the company. First National Bank of Omaha boosted its position in Potlatch Corp. by 1.4% in the third quarter. First National Bank of Omaha now owns 8,882 shares of the real estate investment trust’s stock valued at $345,000 after buying an additional 125 shares during the period. Public Employees Retirement System of Ohio boosted its position in Potlatch Corp. by 4.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,988 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 128 shares during the period. Barclays PLC boosted its position in Potlatch Corp. by 0.6% in the second quarter. Barclays PLC now owns 28,716 shares of the real estate investment trust’s stock valued at $980,000 after buying an additional 158 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Potlatch Corp. by 2.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 13,888 shares of the real estate investment trust’s stock valued at $540,000 after buying an additional 280 shares during the period. Finally, State Treasurer State of Michigan boosted its position in Potlatch Corp. by 1.9% in the second quarter. State Treasurer State of Michigan now owns 16,341 shares of the real estate investment trust’s stock valued at $557,000 after buying an additional 300 shares during the period. 83.04% of the stock is currently owned by hedge funds and other institutional investors.
Potlatch Corp. Company Profile
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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