Allspring Global Investments Holdings LLC Acquires 14,780 Shares of Potlatch Corporation (NASDAQ:PCH)

Allspring Global Investments Holdings LLC increased its holdings in shares of Potlatch Corporation (NASDAQ:PCH) by 9.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 176,915 shares of the real estate investment trust’s stock after purchasing an additional 14,780 shares during the period. Allspring Global Investments Holdings LLC owned 0.22% of Potlatch worth $7,982,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Potlatch during the fourth quarter worth $217,145,000. Balyasny Asset Management L.P. increased its position in shares of Potlatch by 256.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 567,371 shares of the real estate investment trust’s stock valued at $22,269,000 after acquiring an additional 408,355 shares during the period. Deprince Race & Zollo Inc. increased its position in shares of Potlatch by 17.5% in the 4th quarter. Deprince Race & Zollo Inc. now owns 2,359,832 shares of the real estate investment trust’s stock valued at $92,623,000 after acquiring an additional 351,777 shares during the period. Westwood Holdings Group Inc. increased its position in shares of Potlatch by 12.2% in the 4th quarter. Westwood Holdings Group Inc. now owns 2,404,064 shares of the real estate investment trust’s stock valued at $94,360,000 after acquiring an additional 260,674 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Potlatch by 27.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,145,473 shares of the real estate investment trust’s stock valued at $44,960,000 after acquiring an additional 245,026 shares during the period. 86.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PCH shares. Citigroup reissued a “buy” rating and issued a $47.00 target price (down from $49.00) on shares of Potlatch in a research report on Tuesday, June 3rd. Truist Financial cut their target price on Potlatch from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Potlatch has a consensus rating of “Moderate Buy” and an average price target of $48.57.

Potlatch Price Performance

NASDAQ:PCH opened at $39.98 on Friday. Potlatch Corporation has a one year low of $36.82 and a one year high of $48.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.04 and a current ratio of 1.43. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 65.54 and a beta of 1.14. The firm’s fifty day moving average is $39.02 and its two-hundred day moving average is $41.24.

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

Potlatch Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.80 annualized dividend and a yield of 4.50%. Potlatch’s dividend payout ratio is presently 295.08%.

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.