Potlatch Corporation (PCH) Increases Dividend to $0.40 Per Share
Potlatch Corporation (NASDAQ:PCH) announced a quarterly dividend on Monday, October 23rd, RTT News reports. Shareholders of record on Friday, December 8th will be given a dividend of 0.40 per share by the real estate investment trust on Friday, December 29th. This represents a $1.60 dividend on an annualized basis and a yield of 3.02%. This is a positive change from Potlatch Corporation’s previous quarterly dividend of $0.38.
Shares of Potlatch Corporation (PCH) opened at 53.00 on Monday. The firm’s 50-day moving average is $50.24 and its 200-day moving average is $47.23. Potlatch Corporation has a 1-year low of $36.35 and a 1-year high of $53.80. The company has a market cap of $2.15 billion, a PE ratio of 26.22 and a beta of 1.41.
Several equities research analysts have commented on PCH shares. BidaskClub upgraded Potlatch Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Royal Bank Of Canada restated a “hold” rating and issued a $47.00 price objective on shares of Potlatch Corporation in a research report on Monday, July 31st. Zacks Investment Research upgraded Potlatch Corporation from a “sell” rating to a “hold” rating and set a $56.00 price objective on the stock in a research report on Friday, July 28th. Finally, BMO Capital Markets restated a “hold” rating and issued a $40.00 price objective on shares of Potlatch Corporation in a research report on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $46.75.
About Potlatch Corporation
Potlatch Corporation is a real estate investment trust (REIT), which is primarily engaged in activities associated with timberland management, including the sale of timber, management of timberlands, and purchase and sale of timberlands. The Company is also engaged in the manufacture and sale of wood products.
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