Potlatch Corporation (NASDAQ:PCH) Shares Sold by Hartford Financial Management Inc.

Hartford Financial Management Inc. lowered its position in Potlatch Corporation (NASDAQ:PCH) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,876 shares of the real estate investment trust’s stock after selling 1,280 shares during the quarter. Hartford Financial Management Inc.’s holdings in Potlatch were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCH. Quarry LP boosted its holdings in Potlatch by 224.2% in the fourth quarter. Quarry LP now owns 697 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 482 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Potlatch by 168.1% in the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 417 shares during the last quarter. UMB Bank n.a. raised its position in Potlatch by 41.6% in the first quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 254 shares during the period. Fifth Third Bancorp raised its position in Potlatch by 67.1% in the first quarter. Fifth Third Bancorp now owns 1,893 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 760 shares during the period. Finally, Sterling Capital Management LLC raised its position in Potlatch by 806.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,503 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 2,227 shares during the period. Institutional investors and hedge funds own 86.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Truist Financial cut their price objective on Potlatch from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Citigroup reissued a “buy” rating and issued a $47.00 price objective (down from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Potlatch currently has an average rating of “Moderate Buy” and an average target price of $48.57.

Potlatch Stock Up 1.7%

Shares of NASDAQ PCH opened at $38.35 on Thursday. Potlatch Corporation has a 1 year low of $36.82 and a 1 year high of $48.12. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 62.87 and a beta of 1.17. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.04 and a current ratio of 1.43. The stock’s 50-day simple moving average is $38.99 and its 200-day simple moving average is $41.58.

Potlatch (NASDAQ:PCH) last announced its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.13. Potlatch had a return on equity of 2.36% and a net margin of 4.35%. The business had revenue of $268.26 million for the quarter, compared to analyst estimates of $243.68 million. The firm’s revenue was up 17.6% on a year-over-year basis. As a group, equities analysts anticipate that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Potlatch Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Friday, June 6th. Potlatch’s payout ratio is 295.08%.

About Potlatch

PotlatchDeltic Corporation (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.