William Dereu Sells 3,278 Shares of Potlatch (NASDAQ:PCH) Stock

Potlatch Corporation (NASDAQ:PCH) VP William Dereu sold 3,278 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $39.33, for a total value of $128,923.74. Following the completion of the sale, the vice president owned 73,845 shares in the company, valued at approximately $2,904,323.85. This trade represents a 4.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Potlatch Stock Up 1.5%

Potlatch stock traded up $0.59 during midday trading on Tuesday, reaching $39.73. The stock had a trading volume of 720,022 shares, compared to its average volume of 558,325. The firm’s fifty day simple moving average is $40.27 and its 200-day simple moving average is $40.76. Potlatch Corporation has a 1-year low of $36.82 and a 1-year high of $48.12. The stock has a market capitalization of $3.07 billion, a P/E ratio of 48.45 and a beta of 1.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.26 and a current ratio of 1.96.

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

Potlatch Dividend Announcement

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $48.00 price target on shares of Potlatch in a research report on Monday, November 10th. Citigroup cut their price objective on Potlatch from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. DA Davidson reiterated a “neutral” rating and set a $40.00 target price (down from $54.00) on shares of Potlatch in a research note on Thursday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research note on Wednesday, October 8th. Finally, Bank of America downgraded Potlatch from a “buy” rating to an “underperform” rating and cut their price target for the company from $49.00 to $46.00 in a report on Monday, November 17th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.80.

Hedge Funds Weigh In On Potlatch

Several institutional investors and hedge funds have recently modified their holdings of PCH. Norges Bank acquired a new stake in Potlatch in the 2nd quarter worth about $217,543,000. Legal & General Group Plc increased its holdings in shares of Potlatch by 13.9% during the second 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. increased its holdings in shares of Potlatch by 19.8% during the second 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 raised its position in shares of Potlatch by 58.3% in the third quarter. Millennium Management LLC now owns 1,288,642 shares of the real estate investment trust’s stock valued at $52,512,000 after buying an additional 474,526 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Potlatch by 74.3% in the second quarter. Ameriprise Financial Inc. now owns 1,027,190 shares of the real estate investment trust’s stock valued at $39,413,000 after buying an additional 438,032 shares during the period. 86.06% of the stock is currently owned by institutional investors and hedge funds.

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.