State of Wyoming Decreases Stock Holdings in Potlatch Corporation $PCH

State of Wyoming lessened its holdings in Potlatch Corporation (NASDAQ:PCH) by 77.6% during the third quarter, HoldingsChannel.com reports. The fund owned 5,003 shares of the real estate investment trust’s stock after selling 17,327 shares during the quarter. State of Wyoming’s holdings in Potlatch were worth $204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Capital Fund Management S.A. purchased a new position in Potlatch in the 2nd quarter worth approximately $2,151,000. First Horizon Corp purchased a new stake in shares of Potlatch during the third quarter valued at approximately $4,640,000. Bayforest Capital Ltd acquired a new position in shares of Potlatch during the second quarter worth $1,024,000. Envestnet Asset Management Inc. boosted its stake in shares of Potlatch by 91.6% in the second quarter. Envestnet Asset Management Inc. now owns 70,284 shares of the real estate investment trust’s stock valued at $2,697,000 after purchasing an additional 33,610 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in Potlatch during the 2nd quarter valued at $1,169,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

Potlatch Stock Performance

Shares of Potlatch stock opened at $41.73 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.26 and a current ratio of 1.96. Potlatch Corporation has a 1 year low of $36.82 and a 1 year high of $48.12. The firm’s 50-day simple moving average is $41.35 and its 200-day simple moving average is $41.31. The firm has a market cap of $3.23 billion, a PE ratio of 50.89 and a beta of 1.09.

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 was Monday, December 15th. This represents a $1.80 annualized dividend and a yield of 4.3%. Potlatch’s dividend payout ratio is presently 219.51%.

Insider Activity at Potlatch

In other news, VP Ashlee Townsend Cribb sold 4,756 shares of Potlatch stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $39.35, for a total value of $187,148.60. Following the completion of the transaction, the vice president owned 39,619 shares in the company, valued at approximately $1,559,007.65. This trade represents a 10.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michele Tyler sold 4,343 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $39.36, for a total value of $170,940.48. Following the completion of the sale, the vice president owned 42,184 shares of the company’s stock, valued at $1,660,362.24. This trade represents a 9.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 43,569 shares of company stock worth $1,715,897 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PCH shares. Bank of America lowered shares of Potlatch from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $49.00 to $46.00 in a report on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Potlatch in a research report on Thursday, January 22nd. BMO Capital Markets cut Potlatch from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $51.00 to $45.00 in a research note on Thursday, January 8th. DA Davidson restated a “neutral” rating and set a $40.00 price objective (down previously from $54.00) on shares of Potlatch in a research note on Thursday, November 13th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $48.00 price objective on shares of Potlatch in a report on Monday, November 10th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $45.83.

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.