Potlatch Corporation (NASDAQ:PCH) Short Interest Up 37.6% in January

Potlatch Corporation (NASDAQ:PCH) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 1,317,035 shares, an increase of 37.6% from the January 15th total of 956,878 shares. Based on an average trading volume of 1,960,278 shares, the short-interest ratio is currently 0.7 days. Approximately 1.7% of the company’s stock are sold short. Approximately 1.7% of the company’s stock are sold short. Based on an average trading volume of 1,960,278 shares, the short-interest ratio is currently 0.7 days.

Potlatch Stock Performance

Potlatch stock traded up $0.02 during trading hours on Monday, hitting $41.73. The company had a trading volume of 13,280,700 shares, compared to its average volume of 1,225,707. The firm has a 50-day moving average of $41.60 and a 200 day moving average of $41.32. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.96 and a quick ratio of 1.26. The firm has a market cap of $3.23 billion, a PE ratio of 50.89 and a beta of 1.09. Potlatch has a one year low of $36.82 and a one year high of $48.12.

Potlatch Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were paid a $0.45 dividend. The ex-dividend date was Monday, December 15th. This represents a $1.80 annualized dividend and a yield of 4.3%. Potlatch’s payout ratio is 219.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada restated a “sector perform” rating and set a $48.00 target price on shares of Potlatch in a report on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research note on Thursday, January 22nd. BMO Capital Markets downgraded shares of Potlatch from an “outperform” rating to a “market perform” rating and cut their target price for the company from $51.00 to $45.00 in a research note on Thursday, January 8th. Bank of America downgraded Potlatch from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $49.00 to $46.00 in a research report on Monday, November 17th. Finally, DA Davidson restated a “neutral” rating and issued a $40.00 price objective (down previously from $54.00) on shares of Potlatch in a research note on Thursday, November 13th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.83.

Insider Buying and Selling at Potlatch

In other Potlatch news, VP William R. Dereu sold 3,278 shares of Potlatch stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $39.33, for a total value of $128,923.74. Following the sale, the vice president owned 73,845 shares of the company’s stock, valued at $2,904,323.85. This trade represents a 4.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Glen F. Smith sold 738 shares of the stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $41.80, for a total value of $30,848.40. Following the transaction, the chief accounting officer owned 8,159 shares of the company’s stock, valued at approximately $341,046.20. The trade was a 8.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 43,569 shares of company stock valued at $1,715,897 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Potlatch

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Potlatch in the second quarter valued at about $217,543,000. Millennium Management LLC boosted its holdings in Potlatch by 58.3% in the 3rd quarter. Millennium Management LLC now owns 1,288,642 shares of the real estate investment trust’s stock valued at $52,512,000 after purchasing an additional 474,526 shares during the period. Westwood Holdings Group Inc. grew its position in shares of Potlatch by 19.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,792,075 shares of the real estate investment trust’s stock worth $107,132,000 after purchasing an additional 461,356 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Potlatch by 74.3% during the second quarter. Ameriprise Financial Inc. now owns 1,027,190 shares of the real estate investment trust’s stock worth $39,413,000 after purchasing an additional 438,032 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Potlatch by 13.9% in the second quarter. Legal & General Group Plc now owns 2,819,875 shares of the real estate investment trust’s stock valued at $108,199,000 after buying an additional 344,553 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company’s stock.

About Potlatch

PotlatchDeltic Corporation, which trades on the NASDAQ under the ticker PCH, is a real estate investment trust (REIT) specializing in the ownership and sustainable management of timberland. Headquartered in Spokane, Washington, the company holds approximately two million acres of forested land across the United States. Its integrated business model combines timberland stewardship with manufacturing and marketing of wood products to serve residential, agricultural and industrial markets.

In its timberland segment, PotlatchDeltic focuses on responsible forest management practices, including reforestation, habitat conservation and wildfire mitigation.