West Coast Financial LLC Sells 4,396 Shares of Potlatch Co. (PCH)
West Coast Financial LLC cut its position in shares of Potlatch Co. (NASDAQ:PCH) by 25.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 12,787 shares of the real estate investment trust’s stock after selling 4,396 shares during the period. West Coast Financial LLC’s holdings in Potlatch were worth $584,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. Mercer Capital Advisers Inc. bought a new stake in Potlatch during the third quarter worth about $138,000. Confluence Investment Management LLC bought a new stake in Potlatch during the first quarter worth about $211,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Potlatch by 0.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,715 shares of the real estate investment trust’s stock worth $237,000 after buying an additional 36 shares during the last quarter. First National Bank of Omaha bought a new stake in Potlatch during the first quarter worth about $360,000. Finally, Radnor Capital Management LLC bought a new stake in Potlatch during the fourth quarter worth about $352,000. Institutional investors own 84.91% of the company’s stock.
Shares of Potlatch Co. (NASDAQ:PCH) traded up 1.29% during midday trading on Thursday, hitting $46.95. 268,186 shares of the company were exchanged. The firm has a market cap of $1.90 billion, a P/E ratio of 175.19 and a beta of 1.40. Potlatch Co. has a one year low of $31.29 and a one year high of $48.85. The company’s 50 day moving average price is $45.20 and its 200 day moving average price is $42.18.
Potlatch (NASDAQ:PCH) last released its earnings results on Tuesday, January 31st. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.04. Potlatch had a return on equity of 29.63% and a net margin of 1.83%. The firm had revenue of $155.70 million for the quarter, compared to analyst estimates of $147.43 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The company’s quarterly revenue was up 12.2% on a year-over-year basis. Equities analysts expect that Potlatch Co. will post $1.68 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Tuesday, March 7th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 3.19%. The ex-dividend date was Friday, March 3rd. Potlatch’s payout ratio is 576.95%.
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A number of equities research analysts recently weighed in on PCH shares. Zacks Investment Research cut shares of Potlatch from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Vertical Research cut shares of Potlatch from a “buy” rating to a “hold” rating in a research note on Tuesday, April 11th. DA Davidson cut shares of Potlatch from a “neutral” rating to an “underperform” rating and lifted their price objective for the company from $40.00 to $44.00 in a research note on Tuesday, April 11th. Royal Bank of Canada cut shares of Potlatch from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $45.00 to $47.00 in a research note on Wednesday. They noted that the move was a valuation call. Finally, BMO Capital Markets restated a “market perform” rating and set a $40.00 price objective (up from $36.00) on shares of Potlatch in a research note on Monday, February 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $45.00.
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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