Short Interest in Potlatch Corporation (NASDAQ:PCH) Drops By 41.6%

Potlatch Corporation (NASDAQ:PCH) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totaling 850,818 shares, a decrease of 41.6% from the December 15th total of 1,456,154 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 621,717 shares, the short-interest ratio is presently 1.4 days. Based on an average daily trading volume, of 621,717 shares, the short-interest ratio is presently 1.4 days. Currently, 1.1% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PCH shares. Truist Financial reduced their target price on shares of Potlatch from $52.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. DA Davidson restated a “neutral” rating and set a $40.00 price objective (down from $54.00) on shares of Potlatch in a report on Thursday, November 13th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $48.00 price objective on shares of Potlatch in a report on Monday, November 10th. Citigroup boosted their price target on Potlatch from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Zacks Research raised Potlatch from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.83.

Potlatch Trading Up 2.0%

PCH stock traded up $0.91 during midday trading on Friday, hitting $45.39. The stock had a trading volume of 603,863 shares, compared to its average volume of 538,080. The company has a current ratio of 1.96, a quick ratio of 1.26 and a debt-to-equity ratio of 0.53. The firm has a market cap of $3.51 billion, a P/E ratio of 55.35 and a beta of 1.09. The business has a fifty day moving average price of $40.29 and a two-hundred day moving average price of $41.04. Potlatch has a 1-year low of $36.82 and a 1-year high of $48.12.

Potlatch (NASDAQ:PCH) last posted its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.21. The firm had revenue of $314.18 million during the quarter, compared to the consensus estimate of $308.13 million. Potlatch had a net margin of 5.76% and a return on equity of 3.38%. On average, sell-side analysts predict that Potlatch will post 0.8 earnings per share for the current fiscal year.

Potlatch Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.80 annualized dividend and a yield of 4.0%. Potlatch’s dividend payout ratio (DPR) is presently 219.51%.

Insider Buying and Selling at Potlatch

In other news, CEO Eric J. Cremers sold 24,123 shares of Potlatch stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $39.33, for a total value of $948,757.59. Following the transaction, the chief executive officer owned 296,043 shares of the company’s stock, valued at $11,643,371.19. The trade was a 7.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Ashlee Townsend Cribb sold 4,756 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $39.35, for a total transaction of $187,148.60. Following the sale, the vice president directly owned 39,619 shares in the company, valued at approximately $1,559,007.65. This trade represents a 10.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 43,569 shares of company stock valued at $1,715,897. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Potlatch by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,814 shares of the real estate investment trust’s stock valued at $2,112,000 after acquiring an additional 1,598 shares in the last quarter. Millennium Management LLC grew its holdings in Potlatch by 6.4% during the first quarter. Millennium Management LLC now owns 370,422 shares of the real estate investment trust’s stock worth $16,713,000 after buying an additional 22,359 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Potlatch by 6.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 427,161 shares of the real estate investment trust’s stock valued at $19,273,000 after buying an additional 26,948 shares during the last quarter. United Services Automobile Association bought a new position in Potlatch during the 1st quarter valued at $204,000. Finally, Jane Street Group LLC boosted its holdings in Potlatch by 319.3% during the 1st quarter. Jane Street Group LLC now owns 189,230 shares of the real estate investment trust’s stock worth $8,538,000 after acquiring an additional 144,101 shares during the last quarter. 86.06% of the stock is owned by institutional investors.

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.