Truist Financial upgraded shares of Potlatch (NASDAQ:PCH – Free Report) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Marketbeat reports. Truist Financial currently has $52.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $44.00.
Separately, Citigroup restated a “buy” rating and issued a $47.00 price target (down previously from $49.00) on shares of Potlatch in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.
Get Our Latest Analysis on PCH
Potlatch Trading Down 1.1%
PCH opened at $40.20 on Wednesday. The firm has a market capitalization of $3.16 billion, a P/E ratio of 65.90 and a beta of 1.14. The firm’s 50 day moving average is $39.42 and its 200-day moving average is $41.33. Potlatch has a 52-week low of $36.82 and a 52-week high of $48.12. The company has a quick ratio of 1.04, a current ratio of 1.43 and a debt-to-equity ratio of 0.45.
Potlatch (NASDAQ:PCH – Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.13. Potlatch had a return on equity of 2.36% and a net margin of 4.35%. The company had revenue of $268.26 million for the quarter, compared to the consensus estimate of $243.68 million. Potlatch’s quarterly revenue was up 17.6% compared to the same quarter last year. Analysts expect that Potlatch will post 0.8 EPS for the current fiscal year.
Potlatch Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.48%. The ex-dividend date was Friday, June 6th. Potlatch’s dividend payout ratio (DPR) is presently 295.08%.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. increased its holdings in Potlatch by 41.6% during the 1st quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 254 shares in the last quarter. Capital Square LLC increased its stake in shares of Potlatch by 0.8% in the fourth quarter. Capital Square LLC now owns 41,030 shares of the real estate investment trust’s stock valued at $1,711,000 after buying an additional 337 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Potlatch by 61.1% in the second quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 411 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Potlatch by 168.1% in the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 417 shares in the last quarter. Finally, Xponance Inc. increased its position in Potlatch by 4.3% in the 4th quarter. Xponance Inc. now owns 10,706 shares of the real estate investment trust’s stock valued at $420,000 after acquiring an additional 446 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.
About Potlatch
(Get Free Report)
PotlatchDeltic Corporation (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.
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