Key Points
- CAO Glen Smith sold 738 shares on January 9 at an average price of $41.80 for $30,848.40, cutting his stake by 8.29% to 8,159 shares (worth about $341,046).
- Potlatch recently declared a quarterly dividend of $0.45 ($1.80 annual)219.51%, which may raise sustainability concerns.
- Analysts have a consensus "Hold" rating with an average price target of $45.67 while the stock trades around $42–$43; the company last quarter beat EPS estimates ($0.36 vs. $0.15) despite a high P/E of 52.23.
Potlatch Corporation (NASDAQ:PCH - Get Free Report) CAO Glen 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 sale, the chief accounting officer directly owned 8,159 shares of the company's stock, valued at approximately $341,046.20. The trade was a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Potlatch Stock Performance
Shares of PCH stock opened at $42.83 on Tuesday. 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 company's fifty day moving average price is $39.96 and its two-hundred day moving average price is $40.92. The firm has a market capitalization of $3.31 billion, a P/E ratio of 52.23 and a beta of 1.09. Potlatch Corporation has a 12 month low of $36.82 and a 12 month high of $48.12.
Potlatch (NASDAQ:PCH - Get Free Report) last announced its earnings results on Monday, November 3rd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.21. Potlatch had a return on equity of 3.38% and a net margin of 5.76%.The business had revenue of $314.18 million for the quarter, compared to analyst estimates of $308.13 million. On average, research analysts anticipate that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.
Potlatch Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given 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 dividend yield of 4.2%. Potlatch's dividend payout ratio (DPR) is presently 219.51%.
Analysts Set New Price Targets
A number of research analysts have commented on PCH shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Potlatch in a research note on Wednesday, October 8th. Citigroup cut their target price on shares of Potlatch from $45.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 12th. Truist Financial reduced their price target on shares of Potlatch from $52.00 to $51.00 and set a "buy" rating on the stock in a research report on Monday, October 13th. DA Davidson reissued a "neutral" rating and issued a $40.00 price objective (down from $54.00) on shares of Potlatch in a report on Thursday, November 13th. Finally, BMO Capital Markets cut Potlatch from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $51.00 to $45.00 in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $45.67.
Get Our Latest Research Report on PCH
Institutional Investors Weigh In On Potlatch
A number of institutional investors have recently modified their holdings of PCH. Norges Bank bought a new position in Potlatch in the second quarter worth about $217,543,000. Legal & General Group Plc raised its position in shares of Potlatch by 13.9% during the 2nd quarter. Legal & General Group Plc now owns 2,819,875 shares of the real estate investment trust's stock worth $108,199,000 after purchasing an additional 344,553 shares during the period. Westwood Holdings Group Inc. raised its position in shares of Potlatch by 19.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,792,075 shares of the real estate investment trust's stock worth $107,132,000 after purchasing an additional 461,356 shares during the period. Millennium Management LLC lifted its holdings in shares of Potlatch by 58.3% in the 3rd quarter. Millennium Management LLC now owns 1,288,642 shares of the real estate investment trust's stock worth $52,512,000 after purchasing an additional 474,526 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Potlatch by 74.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,027,190 shares of the real estate investment trust's stock valued at $39,413,000 after purchasing an additional 438,032 shares during the period. Institutional investors own 86.06% of the company's stock.
About Potlatch
(
Get Free Report)
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.
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