Potlatch Corporation (PCH) Position Lifted by West Coast Financial LLC
West Coast Financial LLC boosted its holdings in Potlatch Corporation (NASDAQ:PCH) by 15.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,012 shares of the real estate investment trust’s stock after acquiring an additional 1,310 shares during the period. West Coast Financial LLC’s holdings in Potlatch Corporation were worth $511,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Potlatch Corporation by 26,031.7% during the first quarter. BlackRock Inc. now owns 4,763,801 shares of the real estate investment trust’s stock worth $217,705,000 after purchasing an additional 4,745,571 shares in the last quarter. American Century Companies Inc. lifted its stake in Potlatch Corporation by 120.8% during the third quarter. American Century Companies Inc. now owns 876,175 shares of the real estate investment trust’s stock worth $44,685,000 after purchasing an additional 479,278 shares in the last quarter. Vanguard Group Inc. lifted its stake in Potlatch Corporation by 7.3% during the second quarter. Vanguard Group Inc. now owns 3,680,147 shares of the real estate investment trust’s stock worth $168,183,000 after purchasing an additional 251,612 shares in the last quarter. Boston Advisors LLC acquired a new position in Potlatch Corporation during the third quarter worth $8,189,000. Finally, Nationwide Fund Advisors lifted its stake in Potlatch Corporation by 101.3% during the third quarter. Nationwide Fund Advisors now owns 271,388 shares of the real estate investment trust’s stock worth $13,841,000 after purchasing an additional 136,601 shares in the last quarter. Hedge funds and other institutional investors own 84.45% of the company’s stock.
A number of research analysts have commented on PCH shares. Zacks Investment Research upgraded Potlatch Corporation from a “sell” rating to a “hold” rating and set a $56.00 price target on the stock in a research note on Friday, July 28th. DA Davidson upped their price target on Potlatch Corporation to $47.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 24th. Royal Bank Of Canada restated a “hold” rating and set a $47.00 price target on shares of Potlatch Corporation in a research note on Monday, July 31st. BidaskClub cut Potlatch Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Finally, Bank of America Corporation upped their price objective on Potlatch Corporation from $50.00 to $54.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Potlatch Corporation has an average rating of “Hold” and an average target price of $49.40.
Potlatch Corporation (PCH) traded up $0.40 during trading on Tuesday, hitting $51.70. The stock had a trading volume of 106,363 shares, compared to its average volume of 417,481. The company has a quick ratio of 1.72, a current ratio of 2.17 and a debt-to-equity ratio of 2.92. Potlatch Corporation has a 1-year low of $36.95 and a 1-year high of $56.35. The stock has a market capitalization of $2,100.00, a price-to-earnings ratio of 23.15, a P/E/G ratio of 4.22 and a beta of 1.45.
Potlatch Corporation (NASDAQ:PCH) last announced its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.06. Potlatch Corporation had a return on equity of 54.42% and a net margin of 13.54%. The firm had revenue of $190.40 million during the quarter, compared to analyst estimates of $187.29 million. During the same quarter in the previous year, the business earned $0.68 EPS. Potlatch Corporation’s revenue for the quarter was up 9.4% compared to the same quarter last year. equities research analysts expect that Potlatch Corporation will post 2.46 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be paid a dividend of $0.40 per share. This is a positive change from Potlatch Corporation’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Thursday, December 7th. Potlatch Corporation’s payout ratio is 69.44%.
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About Potlatch Corporation
Potlatch Corporation is a real estate investment trust (REIT), which is primarily engaged in activities associated with timberland management, including the sale of timber, management of timberlands, and purchase and sale of timberlands. The Company is also engaged in the manufacture and sale of wood products.
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