Russell Investments Group Ltd. lowered its stake in Potlatch Corporation (NASDAQ:PCH) by 58.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 166,889 shares of the real estate investment trust’s stock after selling 234,689 shares during the period. Russell Investments Group Ltd. owned 0.41% of Potlatch worth $8,511,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Potlatch by 1.6% during the 2nd quarter. BlackRock Inc. now owns 4,839,675 shares of the real estate investment trust’s stock valued at $221,173,000 after purchasing an additional 75,874 shares during the last quarter. Vanguard Group Inc. boosted its stake in Potlatch by 7.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,680,147 shares of the real estate investment trust’s stock valued at $168,183,000 after purchasing an additional 251,612 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Potlatch by 3.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,588,200 shares of the real estate investment trust’s stock valued at $72,581,000 after purchasing an additional 59,647 shares during the last quarter. State Street Corp boosted its stake in Potlatch by 8.0% during the 2nd quarter. State Street Corp now owns 1,378,999 shares of the real estate investment trust’s stock valued at $63,023,000 after purchasing an additional 102,275 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in Potlatch by 8.5% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,105,370 shares of the real estate investment trust’s stock valued at $56,374,000 after purchasing an additional 86,425 shares during the last quarter. Institutional investors own 84.78% of the company’s stock.
In other news, VP William R. Dereu sold 4,720 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $52.50, for a total value of $247,800.00. Following the transaction, the vice president now directly owns 26,142 shares in the company, valued at approximately $1,372,455. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.52% of the company’s stock.
Several analysts have commented on the company. Vertical Research downgraded Potlatch from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. BidaskClub downgraded Potlatch from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Bank of America increased their target price on Potlatch from $50.00 to $54.00 and gave the company an “underperform” rating in a research note on Wednesday, October 25th. BMO Capital Markets reiterated a “hold” rating on shares of Potlatch in a research note on Monday, October 23rd. Finally, Zacks Investment Research downgraded Potlatch from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. Four research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Potlatch has a consensus rating of “Hold” and an average price target of $49.40.
Potlatch Corporation (PCH) opened at $51.15 on Thursday. The stock has a market capitalization of $2,079.28, a price-to-earnings ratio of 22.86, a PEG ratio of 4.28 and a beta of 1.44. Potlatch Corporation has a 52 week low of $39.05 and a 52 week high of $56.35. The company has a quick ratio of 1.72, a current ratio of 2.17 and a debt-to-equity ratio of 2.92.
Potlatch (NASDAQ:PCH) last released its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.06. The firm had revenue of $190.40 million for the quarter, compared to the consensus estimate of $187.29 million. Potlatch had a return on equity of 54.42% and a net margin of 13.54%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. research analysts predict that Potlatch Corporation will post 2.39 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be paid a $0.40 dividend. This is an increase from Potlatch’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Thursday, December 7th. Potlatch’s dividend payout ratio (DPR) is 69.12%.
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Potlatch Corporation is a real estate investment trust (REIT), which is primarily engaged in activities associated with timberland management, including the sale of timber, management of timberlands, and purchase and sale of timberlands. The Company is also engaged in the manufacture and sale of wood products.
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