K.J. Harrison & Partners Inc Buys New Shares in Potlatch Corporation $PCH

K.J. Harrison & Partners Inc purchased a new position in shares of Potlatch Corporation (NASDAQ:PCH) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,000 shares of the real estate investment trust’s stock, valued at approximately $846,000.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Potlatch during the 2nd quarter valued at $217,543,000. Westwood Holdings Group Inc. boosted its holdings in Potlatch by 19.8% in the second quarter. Westwood Holdings Group Inc. now owns 2,792,075 shares of the real estate investment trust’s stock valued at $107,132,000 after acquiring an additional 461,356 shares during the last quarter. Ameriprise Financial Inc. grew its position in Potlatch by 74.3% during the second quarter. Ameriprise Financial Inc. now owns 1,027,190 shares of the real estate investment trust’s stock valued at $39,413,000 after acquiring an additional 438,032 shares during the period. Legal & General Group Plc grew its position in Potlatch by 13.9% during the second quarter. Legal & General Group Plc now owns 2,819,875 shares of the real estate investment trust’s stock valued at $108,199,000 after acquiring an additional 344,553 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in Potlatch during the second quarter worth about $7,653,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

Insider Buying and Selling

In related news, VP William R. Dereu sold 3,278 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $39.33, for a total value of $128,923.74. Following the transaction, the vice president owned 73,845 shares in the company, valued at approximately $2,904,323.85. The trade was a 4.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Ashlee Townsend Cribb sold 4,756 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $39.35, for a total value of $187,148.60. Following the sale, the vice president owned 39,619 shares of the company’s stock, valued at approximately $1,559,007.65. This trade represents a 10.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 43,569 shares of company stock worth $1,715,897 over the last quarter. Company insiders own 1.00% of the company’s stock.

Potlatch Trading Up 0.0%

PCH opened at $41.73 on Friday. The firm’s 50 day moving average is $41.81 and its 200-day moving average is $41.29. Potlatch Corporation has a 52-week low of $36.82 and a 52-week high of $48.12. The company has a quick ratio of 1.26, a current ratio of 1.96 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $3.23 billion, a P/E ratio of 50.89 and a beta of 1.09.

Potlatch Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $0.45 dividend. The ex-dividend date was Monday, December 15th. This represents a $1.80 dividend on an annualized basis and a yield of 4.3%. Potlatch’s payout ratio is currently 219.51%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $48.00 price objective on shares of Potlatch in a research note on Monday, November 10th. Zacks Research raised shares of Potlatch from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. DA Davidson reiterated a “neutral” rating and set a $40.00 price objective (down from $54.00) on shares of Potlatch in a research note on Thursday, November 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Potlatch in a research note on Thursday, January 22nd. Finally, Citigroup upped their price target on shares of Potlatch from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.83.

About Potlatch

PotlatchDeltic Corporation, which trades on the NASDAQ under the ticker PCH, is a real estate investment trust (REIT) specializing in the ownership and sustainable management of timberland. Headquartered in Spokane, Washington, the company holds approximately two million acres of forested land across the United States. Its integrated business model combines timberland stewardship with manufacturing and marketing of wood products to serve residential, agricultural and industrial markets.

In its timberland segment, PotlatchDeltic focuses on responsible forest management practices, including reforestation, habitat conservation and wildfire mitigation.