Potlatch (NASDAQ:PCH) CFO Sells $65,181.48 in Stock

Potlatch Corporation (NASDAQ:PCH) CFO Wayne Wasechek sold 1,651 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $39.48, for a total value of $65,181.48. Following the transaction, the chief financial officer owned 29,026 shares of the company’s stock, valued at approximately $1,145,946.48. This trade represents a 5.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Potlatch Stock Up 1.5%

PCH stock traded up $0.59 during mid-day trading on Tuesday, hitting $39.73. 720,022 shares of the company were exchanged, compared to its average volume of 558,325. The firm has a fifty day simple moving average of $40.27 and a 200 day simple moving average of $40.76. The company has a market capitalization of $3.07 billion, a PE ratio of 48.45 and a beta of 1.10. Potlatch Corporation has a twelve month low of $36.82 and a twelve month high of $48.12. The company has a current ratio of 1.96, a quick ratio of 1.26 and a debt-to-equity ratio of 0.53.

Potlatch (NASDAQ:PCH) last posted its quarterly earnings results on Friday, May 6th. The real estate investment trust reported $1.94 EPS for the quarter. Potlatch had a return on equity of 3.38% and a net margin of 5.76%.The business had revenue of $354.19 million during the quarter. On average, research analysts forecast that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Potlatch Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.80 annualized dividend and a dividend yield of 4.5%. Potlatch’s payout ratio is 219.51%.

Institutional Investors Weigh In On Potlatch

Several hedge funds have recently modified their holdings of the stock. Coastline Trust Co acquired a new stake in shares of Potlatch in the third quarter worth about $26,000. Hantz Financial Services Inc. raised its stake in shares of Potlatch by 611.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 719 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 618 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Potlatch by 61.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 411 shares during the last quarter. UMB Bank n.a. lifted its holdings in Potlatch by 32.3% in the 2nd quarter. UMB Bank n.a. now owns 1,143 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 279 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in Potlatch by 216.6% during the third quarter. CIBC Private Wealth Group LLC now owns 1,184 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 810 shares during the period. 86.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on PCH. DA Davidson restated a “neutral” rating and set a $40.00 price objective (down from $54.00) on shares of Potlatch in a research note on Thursday, November 13th. Royal Bank Of Canada restated a “sector perform” rating and set a $48.00 price target on shares of Potlatch in a research report on Monday, November 10th. Bank of America lowered shares of Potlatch from a “buy” rating to an “underperform” rating and reduced their target price for the company from $49.00 to $46.00 in a research note on Monday, November 17th. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Potlatch from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Potlatch has a consensus rating of “Hold” and a consensus price target of $45.80.

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.