Picton Mahoney Asset Management Purchases Shares of 25,745 Potlatch Corporation $PCH

Picton Mahoney Asset Management purchased a new position in shares of Potlatch Corporation (NASDAQ:PCH) during the third quarter, HoldingsChannel reports. The institutional investor purchased 25,745 shares of the real estate investment trust’s stock, valued at approximately $1,049,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PCH. Coastline Trust Co acquired a new position in Potlatch in the third quarter valued at $26,000. Hantz Financial Services Inc. boosted its stake in Potlatch by 611.9% in the 3rd 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 holdings in Potlatch by 27.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,378 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 294 shares during the period. Optiver Holding B.V. acquired a new position in shares of Potlatch during the 3rd quarter valued at about $80,000. Finally, M&G PLC purchased a new position in shares of Potlatch during the 2nd quarter worth about $196,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Insider Buying and Selling

In other news, CAO Glen F. Smith sold 738 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $41.80, for a total value of $30,848.40. Following the transaction, the chief accounting officer owned 8,159 shares of the company’s stock, valued at approximately $341,046.20. This trade represents a 8.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Darin Robert Ball sold 4,127 shares of Potlatch stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $39.30, for a total transaction of $162,191.10. Following the transaction, the vice president owned 49,054 shares in the company, valued at $1,927,822.20. The trade was a 7.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 43,569 shares of company stock valued at $1,715,897. 1.00% of the stock is owned by corporate insiders.

Potlatch Stock Up 0.0%

PCH opened at $41.73 on Friday. Potlatch Corporation has a 1 year low of $36.82 and a 1 year high of $48.12. The firm has a 50 day moving average price of $42.02 and a 200 day moving average price of $41.24. 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 company has a market cap of $3.23 billion, a PE ratio of 50.89 and a beta of 1.09.

Analyst Ratings Changes

PCH has been the topic of several research analyst reports. Citigroup raised their target price on shares of Potlatch from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. DA Davidson reaffirmed a “neutral” rating and set a $40.00 price target (down from $54.00) on shares of Potlatch in a research note on Thursday, November 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Potlatch in a report on Thursday, January 22nd. BMO Capital Markets cut shares of Potlatch from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $51.00 to $45.00 in a research note on Thursday, January 8th. Finally, Zacks Research upgraded Potlatch from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.