Westwood Holdings Group Inc. Acquires 461,356 Shares of Potlatch Corporation $PCH

Westwood Holdings Group Inc. boosted its holdings in shares of Potlatch Corporation (NASDAQ:PCH) by 19.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,792,075 shares of the real estate investment trust’s stock after purchasing an additional 461,356 shares during the quarter. Potlatch makes up about 0.9% of Westwood Holdings Group Inc.’s portfolio, making the stock its 20th largest position. Westwood Holdings Group Inc.’s holdings in Potlatch were worth $107,132,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Potlatch by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,560,123 shares of the real estate investment trust’s stock valued at $70,393,000 after acquiring an additional 17,352 shares in the last quarter. Deutsche Bank AG increased its holdings in Potlatch by 472.1% in the 1st quarter. Deutsche Bank AG now owns 908,253 shares of the real estate investment trust’s stock valued at $40,980,000 after buying an additional 749,491 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Potlatch by 254.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 876,480 shares of the real estate investment trust’s stock valued at $39,547,000 after buying an additional 629,334 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Potlatch by 51.8% in the 1st quarter. Russell Investments Group Ltd. now owns 819,782 shares of the real estate investment trust’s stock valued at $36,989,000 after buying an additional 279,654 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Potlatch by 130.0% during the 1st quarter. AQR Capital Management LLC now owns 485,689 shares of the real estate investment trust’s stock worth $21,691,000 after acquiring an additional 274,535 shares during the period. 86.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Potlatch Price Performance

Potlatch stock opened at $39.31 on Friday. The business’s fifty day moving average is $41.08 and its two-hundred day moving average is $40.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.13. The firm has a market cap of $3.04 billion, a P/E ratio of 74.17 and a beta of 1.11. Potlatch Corporation has a 52 week low of $36.82 and a 52 week high of $48.12.

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

Potlatch Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.80 annualized dividend and a yield of 4.6%. Potlatch’s dividend payout ratio is currently 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.