Potlatch Co. (NASDAQ:PCH) VP Lorrie D. Scott sold 7,598 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $51.56, for a total value of $391,752.88. Following the transaction, the vice president now directly owns 18,986 shares in the company, valued at approximately $978,918.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Potlatch Co. (NASDAQ PCH) traded up $0.05 during midday trading on Wednesday, reaching $51.90. The company had a trading volume of 199,973 shares, compared to its average volume of 701,761. The firm has a market capitalization of $2,089.44, a PE ratio of 21.17, a P/E/G ratio of 3.45 and a beta of 1.36. The company has a quick ratio of 1.91, a current ratio of 2.58 and a debt-to-equity ratio of 2.79. Potlatch Co. has a fifty-two week low of $43.15 and a fifty-two week high of $56.35.
Potlatch (NASDAQ:PCH) last posted its earnings results on Monday, January 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.06). The company had revenue of $175.24 million during the quarter, compared to the consensus estimate of $170.54 million. Potlatch had a net margin of 12.74% and a return on equity of 55.47%. sell-side analysts predict that Potlatch Co. will post 2.98 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Wednesday, March 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Tuesday, March 6th. Potlatch’s dividend payout ratio is currently 76.19%.
A number of research firms recently weighed in on PCH. Zacks Investment Research raised Potlatch from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Wednesday, December 27th. BidaskClub upgraded Potlatch from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. BMO Capital Markets upped their target price on Potlatch from $42.00 to $49.00 and gave the company a “market perform” rating in a research report on Monday, February 12th. Bank of America upgraded Potlatch from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research report on Tuesday, January 2nd. Finally, Raymond James Financial upgraded Potlatch from a “market perform” rating to an “outperform” rating and set a $54.00 price objective for the company in a research report on Monday, January 8th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $51.17.
A number of large investors have recently added to or reduced their stakes in the business. Tocqueville Asset Management L.P. increased its position in Potlatch by 0.6% in the third quarter. Tocqueville Asset Management L.P. now owns 158,861 shares of the real estate investment trust’s stock worth $8,102,000 after buying an additional 1,000 shares during the last quarter. ING Groep NV grew its position in shares of Potlatch by 23.2% in the fourth quarter. ING Groep NV now owns 6,128 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 1,155 shares in the last quarter. CoreCommodity Management LLC grew its position in shares of Potlatch by 10.6% in the fourth quarter. CoreCommodity Management LLC now owns 13,524 shares of the real estate investment trust’s stock valued at $675,000 after purchasing an additional 1,299 shares in the last quarter. West Coast Financial LLC grew its position in shares of Potlatch by 15.1% in the third quarter. West Coast Financial LLC now owns 10,012 shares of the real estate investment trust’s stock valued at $511,000 after purchasing an additional 1,310 shares in the last quarter. Finally, Flinton Capital Management LLC grew its position in shares of Potlatch by 26.0% in the fourth quarter. Flinton Capital Management LLC now owns 6,426 shares of the real estate investment trust’s stock valued at $321,000 after purchasing an additional 1,326 shares in the last quarter. 89.82% of the stock is owned by institutional investors and hedge funds.
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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