Potlatch Corporation $PCH Stock Holdings Lessened by Bayforest Capital Ltd

Bayforest Capital Ltd lessened its holdings in shares of Potlatch Corporation (NASDAQ:PCH) by 91.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,325 shares of the real estate investment trust’s stock after selling 24,358 shares during the quarter. Bayforest Capital Ltd’s holdings in Potlatch were worth $95,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in Potlatch during the 2nd quarter worth $292,000. Capital Fund Management S.A. acquired a new position in shares of Potlatch during the second quarter valued at $2,151,000. Strs Ohio bought a new position in shares of Potlatch during the first quarter worth about $659,000. Envestnet Asset Management Inc. grew its position in shares of Potlatch by 91.6% during the second quarter. Envestnet Asset Management Inc. now owns 70,284 shares of the real estate investment trust’s stock worth $2,697,000 after acquiring an additional 33,610 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Potlatch by 61.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 411 shares during the period. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PCH. Citigroup boosted their target price on shares of Potlatch from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday. Zacks Research raised Potlatch from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research report on Wednesday, October 8th. DA Davidson reiterated a “neutral” rating and set a $40.00 price target (down previously from $54.00) on shares of Potlatch in a research report on Thursday, November 13th. Finally, Truist Financial cut their price objective on shares of Potlatch from $52.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.83.

Potlatch Price Performance

Shares of NASDAQ PCH opened at $44.30 on Thursday. Potlatch Corporation has a twelve month low of $36.82 and a twelve month high of $48.12. The company has a current ratio of 1.96, a quick ratio of 1.26 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 54.03 and a beta of 1.09. The firm has a 50-day moving average of $40.13 and a two-hundred day moving average of $40.97.

Potlatch (NASDAQ:PCH) last released its earnings results on Monday, November 3rd. The real estate investment trust reported $0.36 EPS for the quarter, beating the consensus estimate of $0.15 by $0.21. The business had revenue of $314.18 million during the quarter, compared to analyst estimates of $308.13 million. Potlatch had a net margin of 5.76% and a return on equity of 3.38%. As a group, analysts expect that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Potlatch Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.80 dividend on an annualized basis and a yield of 4.1%. Potlatch’s dividend payout ratio is currently 219.51%.

Insider Buying and Selling

In related news, CEO Eric J. Cremers sold 24,123 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $39.33, for a total value of $948,757.59. Following the completion of the transaction, the chief executive officer owned 296,043 shares of the company’s stock, valued at approximately $11,643,371.19. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William R. Dereu sold 3,278 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $39.33, for a total transaction of $128,923.74. Following the sale, the vice president directly owned 73,845 shares in the company, valued at approximately $2,904,323.85. This trade represents a 4.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 43,569 shares of company stock valued at $1,715,897. Company insiders own 1.00% of the company’s stock.

Potlatch Profile

PotlatchDeltic Corporation, which trades on the NASDAQ under the ticker PCH, is a real estate investment trust (REIT) specializing in the ownership and sustainable management of timberland. Headquartered in Spokane, Washington, the company holds approximately two million acres of forested land across the United States. Its integrated business model combines timberland stewardship with manufacturing and marketing of wood products to serve residential, agricultural and industrial markets.

In its timberland segment, PotlatchDeltic focuses on responsible forest management practices, including reforestation, habitat conservation and wildfire mitigation.