Martingale Asset Management L P lifted its position in Potlatch Co. (NASDAQ:PCH) by 43.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,410 shares of the real estate investment trust’s stock after buying an additional 8,000 shares during the quarter. Martingale Asset Management L P owned approximately 0.07% of Potlatch worth $1,318,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealthcare Advisory Partners LLC acquired a new stake in shares of Potlatch during the third quarter worth $142,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Potlatch during the third quarter worth about $206,000. ING Groep NV lifted its stake 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 in the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Potlatch during the third quarter worth about $334,000. Finally, Bessemer Group Inc. acquired a new position in shares of Potlatch during the third quarter worth about $342,000. Institutional investors own 89.82% of the company’s stock.
In other news, CFO Jerald W. Richards sold 4,765 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $54.42, for a total transaction of $259,311.30. 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 4,696 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $51.98, for a total transaction of $244,098.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 169,979 shares of company stock valued at $8,810,196. 1.52% of the stock is owned by corporate insiders.
Potlatch Co. (NASDAQ PCH) traded down $0.15 during midday trading on Wednesday, hitting $51.70. 298,628 shares of the stock were exchanged, compared to its average volume of 704,323. The firm has a market capitalization of $2,089.44, a P/E ratio of 24.70, a PEG ratio of 3.45 and a beta of 1.36. Potlatch Co. has a 1-year low of $43.15 and a 1-year high of $56.35. The company has a debt-to-equity ratio of 2.79, a current ratio of 2.58 and a quick ratio of 1.91.
Potlatch (NASDAQ:PCH) last issued its quarterly earnings data on Monday, January 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.06). Potlatch had a return on equity of 55.47% and a net margin of 12.74%. The business had revenue of $175.24 million during the quarter, compared to the consensus estimate of $170.54 million. analysts anticipate that Potlatch Co. will post 2.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, March 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Tuesday, March 6th. Potlatch’s payout ratio is presently 76.19%.
PCH has been the topic of a number of analyst reports. BMO Capital Markets lifted their target price on Potlatch from $42.00 to $49.00 and gave the stock a “market perform” rating in a research report on Monday, February 12th. BidaskClub lowered Potlatch from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Raymond James Financial raised Potlatch from a “market perform” rating to an “outperform” rating and set a $54.00 price objective for the company in a report on Monday, January 8th. UBS Group raised Potlatch from a “market perform” rating to an “outperform” rating in a report on Monday, January 8th. Finally, Zacks Investment Research upgraded Potlatch from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Saturday, January 6th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Potlatch has an average rating of “Hold” and a consensus target price of $51.17.
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Potlatch Company Profile
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.
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