Potlatch (NASDAQ:PCH) CAO Sells $30,848.40 in Stock

Potlatch Corporation (NASDAQ:PCH) CAO Glen Smith sold 738 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $41.80, for a total transaction of $30,848.40. Following the sale, the chief accounting officer directly owned 8,159 shares in the company, valued at $341,046.20. This trade represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Potlatch Trading Up 3.9%

NASDAQ PCH opened at $44.30 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.26 and a current ratio of 1.96. Potlatch Corporation has a one year low of $36.82 and a one year high of $48.12. The company has a 50-day simple moving average of $40.13 and a 200-day simple moving average of $40.97. The firm has a market capitalization of $3.42 billion, a PE ratio of 54.03 and a beta of 1.09.

Potlatch (NASDAQ:PCH) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.21. Potlatch had a net margin of 5.76% and a return on equity of 3.38%. The firm had revenue of $314.18 million for the quarter, compared to analysts’ expectations of $308.13 million. On average, equities analysts forecast that Potlatch Corporation will post 0.8 earnings per share for the current year.

Potlatch Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, December 15th. Potlatch’s dividend payout ratio is presently 219.51%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PCH shares. Citigroup lifted their price target on shares of Potlatch from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday. Zacks Research upgraded Potlatch from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. Truist Financial reduced their target price on Potlatch from $52.00 to $51.00 and set a “buy” rating for the company in a report on Monday, October 13th. Bank of America cut Potlatch from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $49.00 to $46.00 in a research note on Monday, November 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Potlatch currently has a consensus rating of “Hold” and an average target price of $45.83.

Institutional Trading of Potlatch

Several institutional investors have recently made changes to their positions in the stock. Congress Asset Management Co. increased its stake in Potlatch by 3.0% in the 4th quarter. Congress Asset Management Co. now owns 157,700 shares of the real estate investment trust’s stock valued at $6,273,000 after buying an additional 4,545 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of Potlatch by 216.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,184 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 810 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Potlatch in the third quarter worth $341,000. Adelante Capital Management LLC increased its stake in shares of Potlatch by 9.7% in the third quarter. Adelante Capital Management LLC now owns 53,345 shares of the real estate investment trust’s stock worth $2,174,000 after acquiring an additional 4,723 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of Potlatch by 8.8% during the third quarter. CANADA LIFE ASSURANCE Co now owns 42,825 shares of the real estate investment trust’s stock worth $1,724,000 after acquiring an additional 3,456 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.

About Potlatch

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.