Intech Investment Management LLC Sells 6,372 Shares of Potlatch Corporation $PCH

Intech Investment Management LLC lessened its stake in Potlatch Corporation (NASDAQ:PCH) by 10.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 52,394 shares of the real estate investment trust’s stock after selling 6,372 shares during the period. Intech Investment Management LLC’s holdings in Potlatch were worth $2,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Costello Asset Management INC acquired a new position in shares of Potlatch in the first quarter worth approximately $30,000. GAMMA Investing LLC raised its holdings in Potlatch by 61.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 411 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Potlatch by 32.3% in the 2nd quarter. UMB Bank n.a. now owns 1,143 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 279 shares during the period. Quarry LP lifted its position in shares of Potlatch by 70.9% in the 1st quarter. Quarry LP now owns 1,191 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 494 shares during the period. Finally, M&G PLC bought a new stake in shares of Potlatch in the 2nd quarter valued at $196,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $48.00 target price on shares of Potlatch in a research note on Monday, November 10th. DA Davidson reissued 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. Citigroup cut their target price on Potlatch from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Potlatch in a report on Wednesday, October 8th. Finally, Zacks Research raised Potlatch from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.43.

Potlatch Stock Performance

Shares of PCH opened at $39.47 on Friday. Potlatch Corporation has a one year low of $36.82 and a one year high of $48.12. The company has a market cap of $3.05 billion, a PE ratio of 74.47 and a beta of 1.11. The stock has a 50-day moving average of $40.75 and a 200-day moving average of $40.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 0.75.

Potlatch (NASDAQ:PCH) last posted its quarterly earnings results on Friday, May 6th. The real estate investment trust reported $1.94 earnings per share for the quarter. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The business had revenue of $354.19 million for the quarter. On average, equities research analysts predict that Potlatch Corporation will post 0.8 EPS for the current fiscal year.

Potlatch Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Monday, September 15th. Potlatch’s dividend payout ratio (DPR) is currently 219.51%.

Potlatch Company Profile

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.