Potlatch (PCH) Upgraded by Bank of America to Neutral
Bank of America upgraded shares of Potlatch (NASDAQ:PCH) from an underperform rating to a neutral rating in a research report report published on Tuesday morning. The firm currently has $54.00 price objective on the real estate investment trust’s stock.
PCH has been the subject of several other reports. Zacks Investment Research upgraded shares of Potlatch from a hold rating to a buy rating and set a $55.00 price objective for the company in a research report on Wednesday, December 27th. BidaskClub cut shares of Potlatch from a sell rating to a strong sell rating in a research report on Wednesday, December 27th. DA Davidson raised their price objective on shares of Potlatch to $47.00 and gave the stock an underperform rating in a research report on Tuesday, October 24th. BMO Capital Markets restated a hold rating on shares of Potlatch in a research report on Monday, October 23rd. Finally, Vertical Research cut shares of Potlatch from a hold rating to a sell rating in a research report on Wednesday, October 4th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $48.60.
Shares of Potlatch (PCH) traded up $0.70 during midday trading on Tuesday, hitting $50.60. 427,000 shares of the stock were exchanged, compared to its average volume of 471,350. The firm has a market capitalization of $2,026.48, a PE ratio of 23.32, a price-to-earnings-growth ratio of 3.79 and a beta of 1.44. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.17 and a quick ratio of 1.72. Potlatch has a 1-year low of $39.05 and a 1-year high of $56.35.
Potlatch (NASDAQ:PCH) last issued its earnings results on Monday, October 23rd. The real estate investment trust reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.06. The business had revenue of $190.40 million during the quarter, compared to analysts’ expectations of $187.29 million. Potlatch had a net margin of 13.54% and a return on equity of 54.42%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 earnings per share. equities research analysts expect that Potlatch will post 2.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 8th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, December 7th. This is a boost from Potlatch’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.16%. Potlatch’s dividend payout ratio (DPR) is currently 73.73%.
In other Potlatch news, VP William R. Dereu sold 4,720 shares of Potlatch stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $52.50, for a total transaction of $247,800.00. Following the completion of the sale, the vice president now directly owns 26,142 shares in the company, valued at $1,372,455. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.52% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. increased its position in shares of Potlatch by 19.4% during the second quarter. D.A. Davidson & CO. now owns 2,600 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 423 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of Potlatch in the third quarter valued at approximately $142,000. Riverhead Capital Management LLC boosted its stake in shares of Potlatch by 75.3% in the second quarter. Riverhead Capital Management LLC now owns 3,331 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 1,431 shares during the period. Flinton Capital Management LLC boosted its stake in shares of Potlatch by 68.8% in the second quarter. Flinton Capital Management LLC now owns 4,420 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 1,802 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Potlatch in the third quarter valued at approximately $206,000. Institutional investors and hedge funds own 84.79% of the company’s stock.
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Potlatch Company Profile
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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