Potlatch Corporation $PCH Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in Potlatch Corporation (NASDAQ:PCH) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 262,204 shares of the real estate investment trust’s stock after selling 12,189 shares during the quarter. Rhumbline Advisers owned about 0.34% of Potlatch worth $10,685,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PCH. Coastline Trust Co bought a new position in Potlatch in the 3rd quarter worth approximately $26,000. Hantz Financial Services Inc. grew its stake in shares of Potlatch by 611.9% in the third quarter. Hantz Financial Services Inc. now owns 719 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 618 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Potlatch by 27.1% during the third quarter. GAMMA Investing LLC now owns 1,378 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 294 shares during the period. M&G PLC bought a new stake in shares of Potlatch during the second quarter valued at about $196,000. Finally, United Services Automobile Association bought a new stake in shares of Potlatch during the first quarter valued at about $204,000. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Potlatch Stock Performance

Shares of PCH opened at $41.73 on Friday. 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 firm’s 50 day moving average is $41.72 and its 200-day moving average is $41.33. Potlatch Corporation has a 12-month low of $36.82 and a 12-month high of $48.12. The stock has a market capitalization of $3.23 billion, a P/E ratio of 50.89 and a beta of 1.09.

Potlatch Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.80 annualized dividend and a dividend yield of 4.3%. Potlatch’s dividend payout ratio (DPR) is currently 219.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PCH shares. Citigroup increased their target price on shares of Potlatch from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. BMO Capital Markets lowered shares of Potlatch from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $51.00 to $45.00 in a research note on Thursday, January 8th. Bank of America cut shares of Potlatch from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $49.00 to $46.00 in a report on Monday, November 17th. DA Davidson reissued a “neutral” rating and set a $40.00 target price (down previously from $54.00) on shares of Potlatch in a report on Thursday, November 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.83.

Insiders Place Their Bets

In other Potlatch news, VP Darin Robert Ball sold 4,127 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $39.30, for a total transaction of $162,191.10. Following the sale, the vice president owned 49,054 shares in the company, valued at approximately $1,927,822.20. The trade was a 7.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ashlee Townsend Cribb sold 4,756 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $39.35, for a total transaction of $187,148.60. Following the sale, the vice president directly owned 39,619 shares of the company’s stock, valued at $1,559,007.65. This represents a 10.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 43,569 shares of company stock worth $1,715,897. Corporate insiders own 1.00% of the company’s stock.

Potlatch 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.