Legal & General Group Plc Purchases 344,553 Shares of Potlatch Corporation $PCH

Legal & General Group Plc increased its holdings in Potlatch Corporation (NASDAQ:PCH) by 13.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,819,875 shares of the real estate investment trust’s stock after purchasing an additional 344,553 shares during the period. Legal & General Group Plc owned approximately 3.65% of Potlatch worth $108,199,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PCH. Costello Asset Management INC bought a new position in Potlatch during the first quarter valued at $30,000. GAMMA Investing LLC increased its holdings in shares of Potlatch by 61.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 411 shares during the last quarter. UMB Bank n.a. raised its position in shares of Potlatch by 32.3% during the 2nd quarter. UMB Bank n.a. now owns 1,143 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 279 shares in the last quarter. Quarry LP lifted its holdings in shares of Potlatch by 70.9% in the 1st quarter. Quarry LP now owns 1,191 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 494 shares during the last quarter. Finally, M&G PLC purchased a new position in Potlatch in the second quarter worth about $196,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded Potlatch from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Truist Financial cut their target price on Potlatch from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Royal Bank Of Canada restated a “sector perform” rating and set a $48.00 price target on shares of Potlatch in a report on Monday, November 10th. Zacks Research raised shares of Potlatch from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Potlatch in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Potlatch presently has an average rating of “Hold” and a consensus price target of $46.43.

Potlatch Trading Down 1.6%

PCH opened at $38.84 on Tuesday. 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 stock’s 50 day moving average price is $40.72 and its 200-day moving average price is $40.66. Potlatch Corporation has a one year low of $36.82 and a one year high of $48.12. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 73.28 and a beta of 1.11.

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

Potlatch Announces Dividend

The business also recently declared 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 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.