M&G PLC Purchases New Position in Potlatch Corporation $PCH

M&G PLC acquired a new position in Potlatch Corporation (NASDAQ:PCH) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,153 shares of the real estate investment trust’s stock, valued at approximately $196,000.

A number of other hedge funds have also bought and sold shares of the business. Costello Asset Management INC purchased a new stake in shares of Potlatch during the first quarter worth $30,000. GAMMA Investing LLC grew its position in shares of Potlatch by 61.1% in the second quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 411 shares in the last quarter. UMB Bank n.a. raised its stake 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 purchasing an additional 279 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Potlatch during the 1st quarter valued at $52,000. Finally, Quarry LP lifted its holdings in Potlatch by 70.9% during the 1st quarter. Quarry LP now owns 1,191 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 494 shares in the last quarter. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Potlatch Trading Up 0.5%

Shares of PCH opened at $40.09 on Friday. Potlatch Corporation has a 1-year low of $36.82 and a 1-year high of $48.12. The company has a market capitalization of $3.10 billion, a P/E ratio of 75.64 and a beta of 1.11. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 0.75. The firm’s 50 day simple moving average is $41.15 and its 200 day simple moving average is $40.60.

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

Potlatch Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $0.45 dividend. The ex-dividend date was Monday, September 15th. This represents a $1.80 annualized dividend and a yield of 4.5%. Potlatch’s payout ratio is 219.51%.

Analyst Ratings Changes

PCH has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Potlatch in a report on Wednesday, October 8th. DA Davidson reissued a “neutral” rating and issued a $40.00 price target (down from $54.00) on shares of Potlatch in a report on Thursday. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $48.00 price objective on shares of Potlatch in a research note on Monday. Zacks Research lowered shares of Potlatch from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Finally, Wall Street Zen cut shares of Potlatch from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.50.

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.