Potlatch’s (PCH) Sector Perform Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada reiterated their sector perform rating on shares of Potlatch (NASDAQ:PCH) in a research note released on Monday, MarketBeat.com reports. The brokerage currently has a $48.00 target price on the real estate investment trust’s stock.

Several other equities analysts have also issued reports on the company. Citigroup reaffirmed a “neutral” rating and set a $45.00 price objective (down previously from $49.00) on shares of Potlatch in a report on Wednesday, October 15th. Truist Financial decreased their target price on Potlatch from $52.00 to $51.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Zacks Research downgraded Potlatch from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Potlatch in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Potlatch from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $49.00.

Potlatch Stock Down 1.4%

PCH stock opened at $40.80 on Monday. The stock has a market cap of $3.15 billion, a P/E ratio of 76.98 and a beta of 1.11. The company has a current ratio of 1.13, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47. Potlatch has a twelve month low of $36.82 and a twelve month high of $48.12. The company’s 50 day moving average is $41.22 and its two-hundred day moving average is $40.60.

Potlatch (NASDAQ:PCH) last issued its earnings results on Friday, May 6th. The real estate investment trust reported $1.94 earnings per share (EPS) for the quarter. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. The business had revenue of $354.19 million during the quarter. Research analysts expect that Potlatch will post 0.8 earnings per share for the current fiscal year.

Potlatch Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, September 15th. Potlatch’s dividend payout ratio (DPR) is 219.51%.

Institutional Investors Weigh In On Potlatch

Several hedge funds have recently modified their holdings of the stock. Coastline Trust Co purchased a new position in Potlatch during the 3rd quarter worth $26,000. Hantz Financial Services Inc. boosted its holdings in shares of Potlatch by 611.9% in the third quarter. Hantz Financial Services Inc. now owns 719 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 618 shares in the last quarter. Costello Asset Management INC acquired a new position in shares of Potlatch during the first quarter worth about $30,000. GAMMA Investing LLC increased its stake in shares of Potlatch by 61.1% during the second quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 411 shares during the period. Finally, UMB Bank n.a. raised its holdings in Potlatch by 32.3% during the second quarter. UMB Bank n.a. now owns 1,143 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 279 shares in the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.

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.