Potlatch Corp. (PCH) Rating Lowered to Neutral at Buckingham Research
Potlatch Corp. (NASDAQ:PCH) was downgraded by equities researchers at Buckingham Research from a “buy” rating to a “neutral” rating in a 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 report on Friday, July 22nd. Zacks Investment Research upgraded shares of Potlatch Corp. from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Tuesday, July 5th. BMO Capital Markets initiated coverage on shares of Potlatch Corp. in a report on Thursday. They issued a “market perform” rating and a $36.00 price objective on the stock. Bank of America Corp. upgraded shares of Potlatch Corp. from an “underperform” rating to a “neutral” rating in a report on Monday, October 3rd. Finally, DA Davidson cut shares of Potlatch Corp. from a “buy” rating to a “neutral” rating and cut their price objective 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. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Potlatch Corp. presently has an average rating of “Hold” and a consensus target price of $39.40.
Shares of Potlatch Corp. (NASDAQ:PCH) opened at 39.29 on Monday. The stock’s 50 day moving average is $38.01 and its 200 day moving average is $35.78. Potlatch Corp. has a 52 week low of $24.01 and a 52 week high of $39.91. The stock’s market cap is $1.59 billion.
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Potlatch Corp. (NASDAQ:PCH) last announced its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $141.50 million for the quarter, compared to analysts’ expectations of $128.70 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. Potlatch Corp.’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities analysts forecast that Potlatch Corp. will post $1.05 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Tuesday, September 20th were paid a $0.375 dividend. The ex-dividend date was Friday, September 16th. This represents a $1.50 annualized dividend and a dividend yield of 3.82%. Potlatch Corp.’s dividend payout ratio is presently -1,000.00%.
Several hedge funds and other institutional investors have recently modified their holdings of PCH. Nisa Investment Advisors L.L.C. increased its position in shares of Potlatch Corp. by 38.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 19,300 shares of the real estate investment trust’s stock valued at $608,000 after buying an additional 5,400 shares in the last quarter. State Street Corp increased its position in shares of Potlatch Corp. by 0.4% in the first quarter. State Street Corp now owns 1,280,225 shares of the real estate investment trust’s stock valued at $40,326,000 after buying an additional 4,768 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of Potlatch Corp. during the first quarter valued at about $207,000. BlackRock Group LTD increased its position in shares of Potlatch Corp. by 4.1% in the first quarter. BlackRock Group LTD now owns 102,286 shares of the real estate investment trust’s stock valued at $3,222,000 after buying an additional 4,070 shares in the last quarter. Finally, Credit Agricole S A increased its position in shares of Potlatch Corp. by 58.5% in the first quarter. Credit Agricole S A now owns 10,500 shares of the real estate investment trust’s stock valued at $331,000 after buying an additional 3,874 shares in the last quarter. Hedge funds and other institutional investors own 83.04% of the company’s stock.
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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