Zacks Investment Research upgraded shares of Potlatch (NASDAQ:PCH) from a hold rating to a buy rating in a research note published on Saturday, January 6th. The brokerage currently has $56.00 target price on the real estate investment trust’s stock.
According to Zacks, “Potlatch Corporation is a Real Estate Investment Trust (REIT) with approximately 1.4 million acres of timberland in Alabama, Arkansas, Idaho, Minnesota and Mississippi. Potlatch, a certified forest practices leader, is committed to providing superior returns to stockholders through long-term stewardship of its forest resources. The company also conducts a land sales and development business and operates wood products manufacturing facilities through its taxable REIT subsidiary. “
Several other equities analysts have also issued reports on PCH. BidaskClub raised Potlatch from a hold rating to a buy rating in a report on Wednesday, September 27th. Vertical Research lowered Potlatch from a hold rating to a sell rating in a report on Wednesday, October 4th. BMO Capital Markets reaffirmed a hold rating on shares of Potlatch in a report on Monday, October 23rd. DA Davidson upped their target price on Potlatch to $47.00 and gave the company an underperform rating in a report on Tuesday, October 24th. Finally, Bank of America upped their target price on Potlatch from $50.00 to $54.00 and gave the company an underperform rating in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $49.67.
Shares of Potlatch (NASDAQ:PCH) opened at $51.25 on Friday. The company has a market capitalization of $2,093.49, a P/E ratio of 23.62, a PEG ratio of 3.79 and a beta of 1.44. Potlatch has a 52 week low of $39.05 and a 52 week high of $56.35. The company has a quick ratio of 1.72, a current ratio of 2.17 and a debt-to-equity ratio of 2.92.
Potlatch (NASDAQ:PCH) last issued its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $0.94 EPS for the quarter, topping the consensus estimate of $0.88 by $0.06. The firm had revenue of $190.40 million during the quarter, compared to the consensus estimate of $187.29 million. Potlatch had a return on equity of 54.42% and a net margin of 13.54%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. equities research analysts predict that Potlatch will post 2.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 8th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.12%. This is a positive change from Potlatch’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, December 7th. Potlatch’s dividend payout ratio is 73.73%.
In other Potlatch news, VP William R. Dereu sold 4,720 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $52.50, for a total transaction of $247,800.00. Following the completion of the transaction, the vice president now directly owns 26,142 shares of the company’s stock, valued at $1,372,455. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.52% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in PCH. Schwab Charles Investment Management Inc. grew its holdings in Potlatch by 4.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 246,854 shares of the real estate investment trust’s stock valued at $11,282,000 after purchasing an additional 10,183 shares during the period. SG Americas Securities LLC grew its holdings in Potlatch by 4.4% during the second quarter. SG Americas Securities LLC now owns 9,893 shares of the real estate investment trust’s stock valued at $452,000 after purchasing an additional 413 shares during the period. Legal & General Group Plc grew its holdings in Potlatch by 21.4% during the second quarter. Legal & General Group Plc now owns 31,821 shares of the real estate investment trust’s stock valued at $1,454,000 after purchasing an additional 5,606 shares during the period. Prudential Financial Inc. grew its holdings in Potlatch by 394.5% during the second quarter. Prudential Financial Inc. now owns 144,538 shares of the real estate investment trust’s stock valued at $6,605,000 after purchasing an additional 115,306 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Potlatch by 3.5% during the second quarter. Principal Financial Group Inc. now owns 174,146 shares of the real estate investment trust’s stock valued at $7,959,000 after purchasing an additional 5,808 shares during the period. 84.79% of the stock is owned by institutional investors and hedge funds.
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Potlatch Company Profile
Potlatch Corporation is a real estate investment trust (REIT), which is primarily engaged in activities associated with timberland management, including the sale of timber, management of timberlands, and purchase and sale of timberlands. The Company is also engaged in the manufacture and sale of wood products.
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