BlackRock Inc. raised its stake in Potlatch Co. (NASDAQ:PCH) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,067,179 shares of the real estate investment trust’s stock after acquiring an additional 118,587 shares during the quarter. BlackRock Inc. owned about 12.48% of Potlatch worth $252,853,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in PCH. Wealthcare Advisory Partners LLC bought a new position in shares of Potlatch during the third quarter worth approximately $142,000. DekaBank Deutsche Girozentrale bought a new position in shares of Potlatch during the third quarter worth approximately $206,000. ING Groep NV increased its holdings in shares of Potlatch by 23.2% during the fourth quarter. ING Groep NV now owns 6,128 shares of the real estate investment trust’s stock worth $306,000 after purchasing an additional 1,155 shares during the period. Stratos Wealth Partners LTD. bought a new position in shares of Potlatch during the third quarter worth approximately $334,000. Finally, Bessemer Group Inc. bought a new position in shares of Potlatch during the third quarter worth approximately $342,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.
In related news, COO Eric J. Cremers sold 15,150 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $51.00, for a total transaction of $772,650.00. Following the sale, the chief operating officer now owns 85,710 shares in the company, valued at approximately $4,371,210. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas J. Temple sold 2,401 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $54.41, for a total transaction of $130,638.41. The disclosure for this sale can be found here. Insiders have sold a total of 165,283 shares of company stock worth $8,566,098 in the last quarter. 1.52% of the stock is currently owned by company insiders.
Potlatch (NASDAQ:PCH) last posted its quarterly earnings results on Monday, January 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.06). The firm had revenue of $175.24 million for the quarter, compared to analyst estimates of $170.54 million. Potlatch had a return on equity of 55.47% and a net margin of 12.74%. analysts forecast that Potlatch Co. will post 2.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, March 7th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $1.60 annualized dividend and a dividend yield of 3.11%. Potlatch’s dividend payout ratio is 67.80%.
Several research analysts have recently commented on the stock. BMO Capital Markets raised their target price on shares of Potlatch from $42.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday, February 12th. Zacks Investment Research cut shares of Potlatch from a “buy” rating to a “hold” rating in a report on Friday, January 5th. BidaskClub cut shares of Potlatch from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Bank of America raised shares of Potlatch from an “underperform” rating to a “neutral” rating and set a $54.00 target price on the stock in a report on Tuesday, January 2nd. Finally, Raymond James Financial raised shares of Potlatch from a “market perform” rating to an “outperform” rating and set a $54.00 target price on the stock in a report on Monday, January 8th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $51.17.
PotlatchDeltic Corp, formerly 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.
Want to see what other hedge funds are holding PCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Potlatch Co. (NASDAQ:PCH).
Receive News & Ratings for Potlatch Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Potlatch and related companies with MarketBeat.com's FREE daily email newsletter.