Granite Investment Partners LLC Sells 18,954 Shares of Potlatch Corporation $PCH

Granite Investment Partners LLC cut its holdings in Potlatch Corporation (NASDAQ:PCH) by 21.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,150 shares of the real estate investment trust’s stock after selling 18,954 shares during the quarter. Granite Investment Partners LLC’s holdings in Potlatch were worth $2,899,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Coastline Trust Co acquired a new stake in shares of Potlatch during the third quarter worth $26,000. Hantz Financial Services Inc. boosted its holdings in Potlatch by 611.9% during the third quarter. Hantz Financial Services Inc. now owns 719 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 618 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Potlatch by 27.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,378 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 294 shares during the period. M&G PLC acquired a new position in shares of Potlatch during the 2nd quarter worth about $196,000. Finally, United Services Automobile Association bought a new stake in shares of Potlatch in the 1st quarter valued at about $204,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

Potlatch Stock Performance

Shares of PCH opened at $41.73 on Tuesday. The firm has a market cap of $3.23 billion, a P/E ratio of 50.89 and a beta of 1.09. Potlatch Corporation has a twelve month low of $36.82 and a twelve month high of $48.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.26 and a current ratio of 1.96. The firm’s 50 day moving average price is $41.75 and its two-hundred day moving average price is $41.29.

Potlatch Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.80 dividend on an annualized basis and a yield of 4.3%. Potlatch’s dividend payout ratio is presently 219.51%.

Insider Activity

In other Potlatch news, VP Michele Tyler sold 4,343 shares of Potlatch stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $39.36, for a total value of $170,940.48. Following the sale, the vice president owned 42,184 shares of the company’s stock, valued at $1,660,362.24. This trade represents a 9.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Ashlee Townsend Cribb sold 4,756 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $39.35, for a total value of $187,148.60. Following the completion of the sale, the vice president owned 39,619 shares in the company, valued at approximately $1,559,007.65. This trade represents a 10.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 43,569 shares of company stock worth $1,715,897. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PCH has been the topic of several recent analyst reports. Citigroup lifted their price objective on shares of Potlatch from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Bank of America lowered shares of Potlatch from a “buy” rating to an “underperform” rating and cut their target price for the stock from $49.00 to $46.00 in a report on Monday, November 17th. BMO Capital Markets lowered shares of 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 report on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research report on Thursday, January 22nd. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $48.00 price objective on shares of Potlatch in a research note on Monday, November 10th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.83.

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.