Potlatch Corporation (NASDAQ:PCH) Given Average Recommendation of “Hold” by Brokerages

Shares of Potlatch Corporation (NASDAQ:PCH) have been given an average rating of “Hold” by the eight brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $45.8333.

PCH has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Potlatch in a research note on Thursday, January 22nd. Citigroup boosted their target price on shares of Potlatch from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. BMO Capital Markets cut shares of Potlatch from an “outperform” rating to a “market perform” rating and cut their target price for the company from $51.00 to $45.00 in a research note on Thursday, January 8th. Bank of America cut shares of Potlatch from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $49.00 to $46.00 in a research note on Monday, November 17th. Finally, DA Davidson reissued a “neutral” rating and set a $40.00 price objective (down previously from $54.00) on shares of Potlatch in a report on Thursday, November 13th.

Insiders Place Their Bets

In other news, CEO Eric J. Cremers sold 24,123 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $39.33, for a total transaction of $948,757.59. Following the sale, the chief executive officer directly owned 296,043 shares of the company’s stock, valued at $11,643,371.19. This represents a 7.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Glen F. Smith sold 738 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $41.80, for a total transaction of $30,848.40. Following the completion of the transaction, the chief accounting officer directly owned 8,159 shares of the company’s stock, valued at approximately $341,046.20. This trade represents a 8.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 43,569 shares of company stock worth $1,715,897. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Potlatch

Hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Potlatch by 3.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,814 shares of the real estate investment trust’s stock worth $2,112,000 after buying an additional 1,598 shares during the period. Millennium Management LLC lifted its stake in shares of Potlatch by 6.4% during the 1st quarter. Millennium Management LLC now owns 370,422 shares of the real estate investment trust’s stock worth $16,713,000 after purchasing an additional 22,359 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Potlatch by 6.7% during the first quarter. Goldman Sachs Group Inc. now owns 427,161 shares of the real estate investment trust’s stock valued at $19,273,000 after purchasing an additional 26,948 shares in the last quarter. United Services Automobile Association bought a new stake in Potlatch during the first quarter valued at about $204,000. Finally, Jane Street Group LLC lifted its position in shares of Potlatch by 319.3% during the first quarter. Jane Street Group LLC now owns 189,230 shares of the real estate investment trust’s stock valued at $8,538,000 after buying an additional 144,101 shares during the last quarter. Institutional investors own 86.06% of the company’s stock.

Potlatch Stock Performance

PCH stock opened at $41.73 on Friday. The company has a market cap of $3.23 billion, a P/E ratio of 50.89 and a beta of 1.09. Potlatch has a 1 year low of $36.82 and a 1 year high of $48.12. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.96 and a quick ratio of 1.26. The stock’s fifty day moving average price is $41.72 and its 200-day moving average price is $41.33.

Potlatch Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.3%. The ex-dividend date was Monday, December 15th. Potlatch’s dividend payout ratio (DPR) is currently 219.51%.

Potlatch Company 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.