QS Investors LLC Has $6.81 Million Stake in Potlatch Corporation (PCH)
QS Investors LLC grew its stake in shares of Potlatch Corporation (NASDAQ:PCH) by 8.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,969 shares of the real estate investment trust’s stock after purchasing an additional 11,293 shares during the period. QS Investors LLC owned about 0.37% of Potlatch Corporation worth $6,808,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. D.A. Davidson & CO. lifted its holdings in shares of Potlatch Corporation 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 purchasing an additional 423 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Potlatch Corporation by 18.2% during the second quarter. LS Investment Advisors LLC now owns 3,140 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 483 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of Potlatch Corporation by 75.3% during 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 last quarter. First City Capital Management Inc. purchased a new stake in shares of Potlatch Corporation during the first quarter valued at $206,000. Finally, Laurion Capital Management LP purchased a new stake in shares of Potlatch Corporation during the second quarter valued at $210,000. 83.25% of the stock is owned by institutional investors and hedge funds.
Shares of Potlatch Corporation (NASDAQ PCH) traded down 0.49% during midday trading on Friday, reaching $51.00. The company had a trading volume of 273,336 shares. Potlatch Corporation has a 52-week low of $36.35 and a 52-week high of $51.30. The firm has a market cap of $2.07 billion, a P/E ratio of 25.24 and a beta of 1.41. The company’s 50-day moving average is $46.96 and its 200-day moving average is $46.12.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.50 annualized dividend and a yield of 2.94%. Potlatch Corporation’s dividend payout ratio is presently 73.89%.
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Several equities research analysts have recently commented on PCH shares. UBS AG downgraded Potlatch Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 27th. Raymond James Financial, Inc. downgraded Potlatch Corporation from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 27th. BidaskClub raised Potlatch Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Zacks Investment Research downgraded Potlatch Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $40.00 price objective on shares of Potlatch Corporation in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $45.80.
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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