Potlatch Corporation (NASDAQ:PCH) Sees Significant Increase in Short Interest

Potlatch Corporation (NASDAQ:PCH) saw a significant increase in short interest in January. As of January 30th, there was short interest totaling 1,317,035 shares, an increase of 37.6% from the January 15th total of 956,878 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily volume of 1,960,278 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily volume of 1,960,278 shares, the days-to-cover ratio is presently 0.7 days. Approximately 1.7% of the company’s shares are short sold.

Potlatch Stock Up 0.0%

Shares of Potlatch stock traded up $0.02 on Friday, reaching $41.73. 13,280,700 shares of the company were exchanged, compared to its average volume of 1,225,707. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 50.89 and a beta of 1.09. 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 has a one year low of $36.82 and a one year high of $48.12. The company has a 50-day moving average of $41.57 and a 200 day moving average of $41.32.

Potlatch Announces Dividend

The company 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 was Monday, December 15th. This represents a $1.80 annualized dividend and a dividend yield of 4.3%. Potlatch’s payout ratio is currently 219.51%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Zacks Research upgraded Potlatch from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. Citigroup boosted their target price on Potlatch from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Potlatch in a research report on Thursday, January 22nd. BMO Capital Markets downgraded shares of Potlatch from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $51.00 to $45.00 in a report on Thursday, January 8th. Finally, DA Davidson reissued a “neutral” rating and issued a $40.00 price objective (down previously from $54.00) on shares of Potlatch in a research report on Thursday, November 13th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.83.

Insider Buying and Selling

In related news, CEO Eric J. Cremers sold 24,123 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $39.33, for a total value of $948,757.59. Following the completion of the sale, the chief executive officer owned 296,043 shares in the company, valued at $11,643,371.19. This represents a 7.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $128,923.74. Following the sale, the vice president directly owned 73,845 shares in the company, valued at $2,904,323.85. The trade was a 4.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 43,569 shares of company stock worth $1,715,897 over the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Potlatch

Several hedge funds have recently bought and sold shares of PCH. Coastline Trust Co bought a new stake in Potlatch in the third quarter valued at approximately $26,000. Hantz Financial Services Inc. increased its holdings in shares of Potlatch by 611.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 719 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 618 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in Potlatch in the 4th quarter valued at $39,000. CIBC Private Wealth Group LLC lifted its holdings in Potlatch by 216.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,184 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 810 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Potlatch by 27.1% during the 3rd 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 last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.

About Potlatch

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.