Potlatch Co. (PCH) Short Interest Update

Potlatch Co. (NASDAQ:PCH) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 2,040,298 shares, a decline of 40.9% from the February 15th total of 3,454,886 shares. Approximately 5.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,172,358 shares, the days-to-cover ratio is presently 1.7 days.

Shares of Potlatch (NASDAQ PCH) opened at $51.45 on Tuesday. The stock has a market cap of $2,090.00, a price-to-earnings ratio of 21.80, a P/E/G ratio of 3.39 and a beta of 1.36. The company has a debt-to-equity ratio of 2.79, a quick ratio of 1.91 and a current ratio of 2.58. Potlatch has a 12 month low of $42.85 and a 12 month high of $56.35.

Potlatch (NASDAQ:PCH) last posted its quarterly earnings data on Monday, January 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.06). Potlatch had a net margin of 12.74% and a return on equity of 55.47%. The firm had revenue of $175.24 million for the quarter, compared to the consensus estimate of $170.54 million. equities analysts forecast that Potlatch will post 2.98 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Wednesday, March 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Tuesday, March 6th. Potlatch’s dividend payout ratio (DPR) is 67.80%.

PCH has been the topic of a number of recent research reports. BidaskClub raised shares of Potlatch from a “sell” rating to a “hold” rating in a research note on Saturday, January 13th. Zacks Investment Research downgraded shares of Potlatch from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. BMO Capital Markets upped their price target on shares of Potlatch from $42.00 to $49.00 and gave the company a “market perform” rating in a research note on Monday, February 12th. Raymond James Financial raised shares of Potlatch from a “market perform” rating to an “outperform” rating and set a $54.00 price target on the stock in a research note on Monday, January 8th. Finally, Bank of America raised shares of Potlatch from an “underperform” rating to a “neutral” rating and set a $54.00 price target on the stock in a research note on Tuesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Potlatch presently has an average rating of “Hold” and an average target price of $51.17.

In related news, CFO Jerald W. Richards sold 4,765 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $54.42, for a total transaction of $259,311.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas J. Temple sold 2,401 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $54.41, for a total transaction of $130,638.41. The disclosure for this sale can be found here. Insiders sold 165,283 shares of company stock worth $8,566,098 in the last three months. Insiders own 1.52% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PCH. Nationwide Fund Advisors increased its position in Potlatch by 101.3% during the third quarter. Nationwide Fund Advisors now owns 271,388 shares of the real estate investment trust’s stock valued at $13,841,000 after acquiring an additional 136,601 shares during the last quarter. American Century Companies Inc. increased its position in Potlatch by 120.8% during the third quarter. American Century Companies Inc. now owns 876,175 shares of the real estate investment trust’s stock valued at $44,685,000 after acquiring an additional 479,278 shares during the last quarter. Principal Financial Group Inc. increased its position in Potlatch by 112.4% during the third quarter. Principal Financial Group Inc. now owns 369,872 shares of the real estate investment trust’s stock valued at $18,863,000 after acquiring an additional 195,726 shares during the last quarter. Bessemer Group Inc. bought a new position in Potlatch during the third quarter valued at $342,000. Finally, Sei Investments Co. increased its position in Potlatch by 7.9% during the third quarter. Sei Investments Co. now owns 29,685 shares of the real estate investment trust’s stock valued at $1,514,000 after acquiring an additional 2,172 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

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Potlatch Company Profile

PotlatchDeltic Corp, formerly 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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