Potlatch Corporation (NASDAQ:PCH) Receives $48.57 Average Price Target from Brokerages

Potlatch Corporation (NASDAQ:PCH) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $48.57.

A number of research analysts have issued reports on the stock. Citigroup reissued a “buy” rating and set a $47.00 price objective (down from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Truist Financial lowered their target price on Potlatch from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd.

Potlatch Price Performance

Shares of Potlatch stock opened at $38.35 on Monday. The company’s fifty day simple moving average is $38.99 and its two-hundred day simple moving average is $41.58. Potlatch has a 12-month low of $36.82 and a 12-month high of $48.12. The firm has a market cap of $3.01 billion, a PE ratio of 62.87 and a beta of 1.17. The company has a quick ratio of 1.04, a current ratio of 1.43 and a debt-to-equity ratio of 0.45.

Potlatch (NASDAQ:PCH) last released its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.13. Potlatch had a return on equity of 2.36% and a net margin of 4.35%. The business had revenue of $268.26 million during the quarter, compared to analysts’ expectations of $243.68 million. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, equities analysts expect that Potlatch will post 0.8 EPS for the current year.

Potlatch Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date is Friday, June 6th. Potlatch’s dividend payout ratio (DPR) is presently 295.08%.

Institutional Investors Weigh In On Potlatch

A number of large investors have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Potlatch in the fourth quarter worth about $217,145,000. Deutsche Bank AG raised its stake in Potlatch by 472.1% during the 1st quarter. Deutsche Bank AG now owns 908,253 shares of the real estate investment trust’s stock worth $40,980,000 after acquiring an additional 749,491 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Potlatch by 254.6% during the first 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 purchasing an additional 629,334 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Potlatch in the first quarter worth approximately $19,176,000. Finally, Balyasny Asset Management L.P. increased its stake in shares of Potlatch by 256.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 567,371 shares of the real estate investment trust’s stock worth $22,269,000 after purchasing an additional 408,355 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors.

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.