Potlatch Corp. (PCH) Upgraded at Bank of America Corp.
A number of other brokerages have also weighed in on PCH. Royal Bank Of Canada upped their target price on Potlatch Corp. from $42.00 to $45.00 and gave the stock an outperform rating in a research note on Friday, June 17th. Zacks Investment Research upgraded Potlatch Corp. from a hold rating to a buy rating and set a $39.00 target price on the stock in a research note on Tuesday, July 5th. TheStreet upgraded Potlatch Corp. from a hold rating to a buy rating in a research note on Friday, July 22nd. Finally, DA Davidson lowered Potlatch Corp. from a buy rating to a neutral rating and decreased their target price for the stock from $56.00 to $40.00 in a research note on Wednesday, July 27th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $40.25.
Shares of Potlatch Corp. (NASDAQ:PCH) opened at 37.02 on Monday. Potlatch Corp. has a 52 week low of $24.01 and a 52 week high of $39.91. The stock’s 50 day moving average price is $38.08 and its 200-day moving average price is $35.45. The firm’s market capitalization is $1.50 billion.
Potlatch Corp. (NASDAQ:PCH) last released its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. Potlatch Corp. had a positive return on equity of 16.52% and a negative net margin of 0.99%. The company had revenue of $141.50 million for the quarter, compared to analyst estimates of $128.70 million. During the same period in the previous year, the company posted $0.02 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts predict that Potlatch Corp. will post $1.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Tuesday, September 20th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date was Friday, September 16th. Potlatch Corp.’s payout ratio is currently -1,000.00%.
Several institutional investors have recently bought and sold shares of PCH. FMR LLC boosted its position in Potlatch Corp. by 22.2% in the second quarter. FMR LLC now owns 4,198,530 shares of the real estate investment trust’s stock worth $143,169,000 after buying an additional 761,769 shares during the last quarter. Vanguard Group Inc. boosted its position in Potlatch Corp. by 4.9% in the second quarter. Vanguard Group Inc. now owns 3,011,195 shares of the real estate investment trust’s stock worth $102,682,000 after buying an additional 139,420 shares during the last quarter. BlackRock Fund Advisors boosted its position in Potlatch Corp. by 3.3% in the second quarter. BlackRock Fund Advisors now owns 2,457,640 shares of the real estate investment trust’s stock worth $83,806,000 after buying an additional 78,921 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in Potlatch Corp. by 2.8% in the second quarter. Pictet Asset Management Ltd. now owns 1,558,466 shares of the real estate investment trust’s stock worth $53,269,000 after buying an additional 42,673 shares during the last quarter. Finally, State Street Corp boosted its position in Potlatch Corp. by 0.4% in the first quarter. State Street Corp now owns 1,280,225 shares of the real estate investment trust’s stock worth $40,326,000 after buying an additional 4,768 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.
About Potlatch Corp.
Potlatch Corporation is a real estate investment trust (REIT). The Company operates through three segments: Resource, Wood Products and Real Estate. The Resource segment management activities include planting and harvesting trees, and building and maintaining roads. Its activities also include hunting leases, recreation permits and leases, mineral rights leases, biomass production and carbon sequestration.
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