Potlatch (NASDAQ:PCH) Announces Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Potlatch (NASDAQ:PCH) released its quarterly earnings results on Monday. The real estate investment trust reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.20, Zacks reports. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.

Potlatch Stock Performance

NASDAQ PCH traded down $0.94 on Monday, hitting $39.06. 1,549,396 shares of the stock traded hands, compared to its average volume of 552,494. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.13. The business’s fifty day moving average is $41.49 and its two-hundred day moving average is $40.57. Potlatch has a 12 month low of $36.82 and a 12 month high of $48.12. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 73.70 and a beta of 1.10.

Potlatch Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Monday, September 15th. Potlatch’s dividend payout ratio is 339.62%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PCH. United Services Automobile Association bought a new stake in Potlatch in the 1st quarter valued at about $204,000. Focus Partners Wealth increased its stake in shares of Potlatch by 8.9% in the first quarter. Focus Partners Wealth now owns 6,920 shares of the real estate investment trust’s stock worth $312,000 after purchasing an additional 565 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Potlatch by 12.9% in the second quarter. Captrust Financial Advisors now owns 7,324 shares of the real estate investment trust’s stock worth $281,000 after purchasing an additional 838 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of Potlatch by 27.5% in the second quarter. Osaic Holdings Inc. now owns 9,887 shares of the real estate investment trust’s stock valued at $386,000 after purchasing an additional 2,131 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Potlatch during the 2nd quarter valued at approximately $471,000. Institutional investors own 86.06% of the company’s stock.

Wall Street Analysts Forecast Growth

PCH has been the subject of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Potlatch in a report on Wednesday, October 8th. Citigroup reaffirmed a “neutral” rating and issued a $45.00 price objective (down from $49.00) on shares of Potlatch in a research report on Wednesday, October 15th. Zacks Research cut shares of Potlatch from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Truist Financial cut their target price on Potlatch from $52.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Finally, Wall Street Zen cut Potlatch from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $49.20.

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.