Short Interest in Potlatch Corporation (NASDAQ:PCH) Declines By 41.6%

Potlatch Corporation (NASDAQ:PCH) was the target of a large decline in short interest in December. As of December 31st, there was short interest totaling 850,818 shares, a decline of 41.6% from the December 15th total of 1,456,154 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily volume of 621,717 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily volume of 621,717 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.1% of the company’s stock are short sold.

Insiders Place Their Bets

In other Potlatch news, VP William R. Dereu sold 3,278 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $39.33, for a total transaction of $128,923.74. Following the transaction, the vice president directly owned 73,845 shares in the company, valued at approximately $2,904,323.85. This trade represents a 4.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric J. Cremers sold 24,123 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $39.33, for a total value of $948,757.59. Following the completion of the transaction, the chief executive officer directly owned 296,043 shares in the company, valued at approximately $11,643,371.19. This represents a 7.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 43,569 shares of company stock worth $1,715,897 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Norges Bank acquired a new position in Potlatch during the 2nd quarter valued at about $217,543,000. Millennium Management LLC raised its position 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 valued at $52,512,000 after purchasing an additional 474,526 shares during the last quarter. Westwood Holdings Group Inc. grew its position in 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 last quarter. Ameriprise Financial Inc. raised its holdings 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 worth $39,413,000 after buying an additional 438,032 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake 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 buying an additional 344,553 shares during the period. Institutional investors own 86.06% of the company’s stock.

Potlatch Trading Up 0.3%

Shares of NASDAQ:PCH traded up $0.12 on Thursday, hitting $44.42. 203,180 shares of the company’s stock were exchanged, compared to its average volume of 541,956. The business’s 50 day simple moving average is $40.13 and its two-hundred day simple moving average is $40.97. 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 stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 54.13 and a beta of 1.09. Potlatch has a 12 month low of $36.82 and a 12 month high of $48.12.

Potlatch (NASDAQ:PCH) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.21. Potlatch had a net margin of 5.76% and a return on equity of 3.38%. The company had revenue of $314.18 million during the quarter, compared to analyst estimates of $308.13 million. Analysts anticipate that Potlatch will post 0.8 EPS 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 $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, December 15th. Potlatch’s payout ratio is presently 219.51%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PCH shares. Zacks Research raised shares of Potlatch from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. Truist Financial decreased their price objective 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. Royal Bank Of Canada reiterated a “sector perform” rating and set a $48.00 target price on shares of Potlatch in a research report on Monday, November 10th. Bank of America cut 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. Finally, DA Davidson reiterated 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. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.83.

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.