Thrivent Financial for Lutherans Buys 16,459 Shares of Potlatch Corporation $PCH

Thrivent Financial for Lutherans increased its stake in shares of Potlatch Corporation (NASDAQ:PCH) by 97.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,299 shares of the real estate investment trust’s stock after buying an additional 16,459 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Potlatch were worth $1,357,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Potlatch during the 2nd quarter worth $217,543,000. Westwood Holdings Group Inc. raised its holdings in shares of Potlatch by 19.8% in the second quarter. Westwood Holdings Group Inc. now owns 2,792,075 shares of the real estate investment trust’s stock valued at $107,132,000 after purchasing an additional 461,356 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Potlatch by 74.3% during 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 purchasing an additional 438,032 shares in the last quarter. Legal & General Group Plc grew its position in Potlatch by 13.9% in the 2nd 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 in the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in Potlatch in the 2nd quarter valued at about $7,653,000. 86.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Potlatch

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

Analyst Ratings Changes

A number of brokerages recently commented on PCH. BMO Capital Markets downgraded Potlatch from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $51.00 to $45.00 in a research report on Thursday, January 8th. Bank of America downgraded Potlatch from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $49.00 to $46.00 in a research note on Monday, November 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $48.00 target price on shares of Potlatch in a research report on Monday, November 10th. 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. Finally, Citigroup increased their price target 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. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.83.

Potlatch Stock Performance

Shares of PCH opened at $41.73 on Friday. Potlatch Corporation has a 1 year low of $36.82 and a 1 year high of $48.12. 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’s fifty day moving average price is $41.57 and its two-hundred day moving average price is $41.32. The firm has a market cap of $3.23 billion, a PE ratio of 50.89 and a beta of 1.09.

Potlatch Dividend Announcement

The firm 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. 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 payout ratio is 219.51%.

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.