JPMorgan Chase & Co. Sells 19,129 Shares of Potlatch Corporation $PCH

JPMorgan Chase & Co. lowered its position in shares of Potlatch Corporation (NASDAQ:PCH) by 1.9% in the third quarter, Holdings Channel reports. The firm owned 997,231 shares of the real estate investment trust’s stock after selling 19,129 shares during the period. JPMorgan Chase & Co.’s holdings in Potlatch were worth $40,637,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Coastline Trust Co acquired a new position in shares of Potlatch in the 3rd quarter valued at $26,000. Hantz Financial Services Inc. lifted 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 acquiring an additional 618 shares in the last quarter. GAMMA Investing LLC grew its stake in Potlatch by 27.1% in the third quarter. GAMMA Investing LLC now owns 1,378 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 294 shares during the period. United Services Automobile Association bought a new stake in shares of Potlatch in the first quarter worth about $204,000. Finally, M&G PLC bought a new stake in shares of Potlatch in the second quarter worth about $196,000. Institutional investors own 86.06% of the company’s stock.

Insider Buying and Selling at Potlatch

In related news, VP Darin Robert Ball sold 4,127 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $39.30, for a total transaction of $162,191.10. Following the completion of the sale, the vice president directly owned 49,054 shares in the company, valued at $1,927,822.20. This represents a 7.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Glen F. Smith sold 738 shares of the stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $41.80, for a total transaction of $30,848.40. Following the completion of the transaction, the chief accounting officer directly owned 8,159 shares of the company’s stock, valued at $341,046.20. This trade represents a 8.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 43,569 shares of company stock valued at $1,715,897 over the last three months. 1.00% of the stock is owned by insiders.

Potlatch Stock Performance

NASDAQ:PCH opened at $41.73 on Friday. The stock has a 50 day simple moving average of $41.81 and a 200 day simple moving average of $41.29. The stock 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 1-year low of $36.82 and a 1-year high of $48.12. 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 Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Citigroup increased their target price on Potlatch from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Royal Bank Of Canada reissued a “sector perform” rating and set a $48.00 price objective on shares of Potlatch in a research report on Monday, November 10th. DA Davidson reaffirmed a “neutral” rating and issued a $40.00 price objective (down from $54.00) on shares of Potlatch in a research report on Thursday, November 13th. BMO Capital Markets cut Potlatch from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $51.00 to $45.00 in a report on Thursday, January 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Potlatch in a research note on Thursday, January 22nd. 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $45.83.

Potlatch 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.