Potlatch Corporation (NASDAQ:PCH) Plans $0.45 Quarterly Dividend

Potlatch Corporation (NASDAQ:PCH) announced a quarterly dividend on Friday, December 5th. Stockholders of record on Monday, December 15th will be given a dividend of 0.45 per share by the real estate investment trust on Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, December 15th.

Potlatch has increased its dividend by an average of 0.0%annually over the last three years. Potlatch has a payout ratio of 145.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Potlatch to earn $1.20 per share next year, which means the company may not be able to cover its $1.80 annual dividend with an expected future payout ratio of 150.0%.

Potlatch Stock Performance

Shares of NASDAQ PCH traded down $0.38 during trading hours on Friday, reaching $40.28. The stock had a trading volume of 419,714 shares, compared to its average volume of 479,880. The firm has a 50-day moving average of $40.47 and a 200-day moving average of $40.68. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 49.12 and a beta of 1.10. 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 has a fifty-two week low of $36.82 and a fifty-two week high of $48.12.

Potlatch (NASDAQ:PCH) last released its quarterly earnings results on Friday, May 6th. The real estate investment trust reported $1.94 EPS for the quarter. The company had revenue of $354.19 million for the quarter. Potlatch had a return on equity of 3.38% and a net margin of 5.76%. Equities research analysts predict that Potlatch will post 0.8 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Truist Financial reduced their price target on shares of Potlatch from $52.00 to $51.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Bank of America cut shares of Potlatch from a “buy” rating to an “underperform” rating and reduced their target price for the company from $49.00 to $46.00 in a report on Monday, November 17th. DA Davidson reissued a “neutral” rating and set a $40.00 price target (down previously from $54.00) on shares of Potlatch in a report on Thursday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research 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. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.67.

About Potlatch

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.