Potlatch Corporation (NASDAQ:PCH) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its stake in Potlatch Corporation (NASDAQ:PCH) by 9.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 17,548 shares of the real estate investment trust’s stock after purchasing an additional 1,547 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Potlatch were worth $792,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Barings LLC grew its stake in shares of Potlatch by 317.6% in the first quarter. Barings LLC now owns 98,366 shares of the real estate investment trust’s stock valued at $4,438,000 after buying an additional 74,811 shares in the last quarter. US Bancorp DE grew its stake in Potlatch by 16.1% during the 1st quarter. US Bancorp DE now owns 16,536 shares of the real estate investment trust’s stock valued at $746,000 after purchasing an additional 2,296 shares in the last quarter. Natixis Advisors LLC grew its stake in Potlatch by 136.0% during the 1st quarter. Natixis Advisors LLC now owns 29,200 shares of the real estate investment trust’s stock valued at $1,318,000 after purchasing an additional 16,829 shares in the last quarter. Federated Hermes Inc. grew its stake in Potlatch by 105.2% during the 1st quarter. Federated Hermes Inc. now owns 6,789 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 3,481 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in Potlatch during the 1st quarter valued at approximately $1,532,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

Potlatch Trading Down 1.7%

NASDAQ:PCH opened at $42.04 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $40.24 and its two-hundred day moving average is $41.49. Potlatch Corporation has a 52 week low of $36.82 and a 52 week high of $48.12. The company has a market cap of $3.25 billion, a PE ratio of 79.32 and a beta of 1.12.

Potlatch (NASDAQ:PCH) last released its earnings results on Monday, July 28th. The real estate investment trust reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Potlatch had a return on equity of 2.10% and a net margin of 3.94%. The company had revenue of $274.99 million for the quarter, compared to the consensus estimate of $267.66 million. During the same quarter last year, the business posted $0.17 EPS. Potlatch’s quarterly revenue was down 14.2% compared to the same quarter last year. On average, analysts predict that Potlatch Corporation will post 0.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PCH shares. Citigroup restated a “buy” rating and set a $47.00 price objective (down previously from $49.00) on shares of Potlatch in a research note on Tuesday, June 3rd. Truist Financial upgraded Potlatch from a “hold” rating to a “buy” rating and raised their price objective for the company from $44.00 to $52.00 in a research note on Wednesday, July 16th. Finally, Wall Street Zen lowered Potlatch from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat, Potlatch currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Potlatch Company 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.