Potlatch Corporation $PCH Shares Acquired by Peregrine Capital Management LLC

by · The Markets Daily

Peregrine Capital Management LLC lifted its position in shares of Potlatch Corporation (NASDAQ:PCH – Free Report) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,664 shares of the real estate investment trust’s stock after purchasing an additional 3,247 shares during the quarter. Peregrine Capital Management LLC’s holdings in Potlatch were worth $4,553,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PCH. Allspring Global Investments Holdings LLC grew its stake in shares of Potlatch by 9.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 176,915 shares of the real estate investment trust’s stock worth $7,982,000 after purchasing an additional 14,780 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Potlatch by 1.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 54,178 shares of the real estate investment trust’s stock worth $2,445,000 after purchasing an additional 847 shares during the period. First Horizon Advisors Inc. acquired a new stake in shares of Potlatch during the 1st quarter worth approximately $5,138,000. Teacher Retirement System of Texas acquired a new stake in shares of Potlatch during the 1st quarter worth approximately $888,000. Finally, Principal Financial Group Inc. grew its stake in shares of Potlatch by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 166,650 shares of the real estate investment trust’s stock worth $7,519,000 after purchasing an additional 1,624 shares during the period. Institutional investors and hedge funds own 86.06% of the company’s stock.

Potlatch Trading Down 1.7%

Shares of NASDAQ:PCH opened at $42.06 on Wednesday. The business’s 50 day moving average price is $41.64 and its 200-day moving average price is $40.53. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 0.75. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 79.36 and a beta of 1.10. Potlatch Corporation has a 1 year low of $36.82 and a 1 year high of $48.12.

Potlatch (NASDAQ:PCH – Get Free Report) last announced its quarterly earnings data on Friday, May 6th. The real estate investment trust reported $1.94 earnings per share for the quarter. The company had revenue of $354.19 million for the quarter. Potlatch had a return on equity of 2.10% and a net margin of 3.94%. On average, equities research analysts forecast that Potlatch Corporation will post 0.8 earnings per share for the current fiscal year.

Potlatch Announces Dividend

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 $0.45 dividend. The ex-dividend date was Monday, September 15th. This represents a $1.80 dividend on an annualized basis and a yield of 4.3%. Potlatch’s dividend payout ratio (DPR) is presently 339.62%.

Wall Street Analyst Weigh In

PCH has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Potlatch in a research note on Wednesday, October 8th. Truist Financial decreased their target price on Potlatch from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Wall Street Zen lowered Potlatch from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Zacks Research lowered Potlatch from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Finally, Citigroup reiterated a “neutral” rating and set a $45.00 target price (down previously from $49.00) on shares of Potlatch in a research report on Wednesday, October 15th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.33.

Get Our Latest Research Report on PCH

Potlatch Profile

(Free Report)

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.

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