Principal Financial Group Inc. Purchases 1,624 Shares of Potlatch Corporation (NASDAQ:PCH)

Principal Financial Group Inc. raised its stake in shares of Potlatch Corporation (NASDAQ:PCH) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,650 shares of the real estate investment trust’s stock after buying an additional 1,624 shares during the quarter. Principal Financial Group Inc.’s holdings in Potlatch were worth $7,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Victory Capital Management Inc. grew its stake in shares of Potlatch by 91.2% during the fourth quarter. Victory Capital Management Inc. now owns 41,976 shares of the real estate investment trust’s stock worth $1,648,000 after acquiring an additional 20,022 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Potlatch in the 4th quarter valued at about $741,000. Raymond James Financial Inc. purchased a new position in shares of Potlatch in the 4th quarter valued at $2,128,000. PNC Financial Services Group Inc. increased its holdings in shares of Potlatch by 6.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 16,001 shares of the real estate investment trust’s stock valued at $628,000 after purchasing an additional 1,012 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Potlatch by 12.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,905 shares of the real estate investment trust’s stock worth $899,000 after acquiring an additional 2,447 shares during the period. 86.06% of the stock is currently owned by institutional investors.

Potlatch Stock Down 1.6%

Potlatch stock opened at $39.84 on Wednesday. The stock has a market cap of $3.13 billion, a P/E ratio of 65.31 and a beta of 1.14. 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 Corporation has a twelve month low of $36.82 and a twelve month high of $48.12. The company’s 50-day moving average price is $39.27 and its two-hundred day moving average price is $41.31.

Potlatch (NASDAQ:PCH) last issued its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.13. The firm 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% compared to the same quarter last year. As a group, analysts expect that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, June 6th. This represents a $1.80 annualized dividend and a dividend yield of 4.52%. Potlatch’s dividend payout ratio is currently 295.08%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PCH. Truist Financial increased their target price on Potlatch from $42.00 to $44.00 and gave the company a “hold” rating in a research note on Friday, July 11th. Citigroup restated a “buy” rating and set a $47.00 target price (down from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.86.

Potlatch Profile

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.