Potlatch Corporation $PCH Stock Holdings Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of Potlatch Corporation (NASDAQ:PCH) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 739,124 shares of the real estate investment trust’s stock after selling 11,055 shares during the period. Bank of New York Mellon Corp’s holdings in Potlatch were worth $28,360,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its holdings in shares of Potlatch by 9.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 36,674 shares of the real estate investment trust’s stock worth $1,655,000 after purchasing an additional 3,126 shares during the last quarter. Cerity Partners LLC lifted its holdings in Potlatch by 25.2% in the first quarter. Cerity Partners LLC now owns 26,915 shares of the real estate investment trust’s stock worth $1,214,000 after purchasing an additional 5,422 shares during the period. Saturna Capital Corp boosted its holdings in shares of Potlatch by 24.7% in the first quarter. Saturna Capital Corp now owns 12,640 shares of the real estate investment trust’s stock valued at $570,000 after acquiring an additional 2,500 shares in the last quarter. Bernzott Capital Advisors boosted its stake in Potlatch by 2.5% during the 1st quarter. Bernzott Capital Advisors now owns 169,570 shares of the real estate investment trust’s stock valued at $7,651,000 after purchasing an additional 4,095 shares in the last quarter. Finally, Kestra Private Wealth Services LLC acquired a new position in Potlatch during the first quarter worth about $266,000. Institutional investors own 86.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. DA Davidson restated a “neutral” rating and issued a $40.00 price target (down previously from $54.00) on shares of Potlatch in a research report on Thursday. Citigroup reduced their price target on shares of Potlatch from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Potlatch in a research report on Wednesday, October 8th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $48.00 target price on shares of Potlatch in a research note on Monday, November 10th. Finally, Truist Financial decreased their price target on Potlatch from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $46.50.

Potlatch Trading Down 1.9%

Potlatch stock opened at $39.31 on Friday. The business has a 50 day moving average price of $41.08 and a two-hundred day moving average price of $40.60. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 74.17 and a beta of 1.11. Potlatch Corporation has a 12 month low of $36.82 and a 12 month high of $48.12.

Potlatch (NASDAQ:PCH) last posted its quarterly earnings results on Friday, May 6th. The real estate investment trust reported $1.94 earnings per share for the quarter. The firm had revenue of $354.19 million for the quarter. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. As a group, equities analysts forecast that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.6%. Potlatch’s dividend payout ratio is presently 219.51%.

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.