Potlatch Corporation (PCH) To Go Ex-Dividend on December 15th

Potlatch Corporation (NASDAQ:PCH) announced a quarterly dividend on Friday, December 5th. Shareholders of record on Monday, December 15th will be paid a dividend of 0.45 per share by the real estate investment trust on Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, December 15th.

Potlatch has increased its dividend by an average of 0.0%per year over the last three years. Potlatch has a dividend payout ratio of 145.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Potlatch to earn $1.20 per share next year, which means the company may not be able to cover its $1.80 annual dividend with an expected future payout ratio of 150.0%.

Potlatch Stock Down 0.9%

Shares of NASDAQ:PCH traded down $0.38 on Friday, reaching $40.28. The company had a trading volume of 419,714 shares, compared to its average volume of 479,880. The firm has a market capitalization of $3.11 billion, a PE ratio of 49.12 and a beta of 1.10. The firm’s 50 day simple moving average is $40.47 and its 200-day simple moving average is $40.68. Potlatch has a 52-week low of $36.82 and a 52-week high of $48.12. The company has a current ratio of 1.96, a quick ratio of 1.26 and a debt-to-equity ratio of 0.53.

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. The company had revenue of $354.19 million during the quarter. Potlatch had a return on equity of 3.38% and a net margin of 5.76%. As a group, analysts expect that Potlatch will post 0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PCH. Truist Financial decreased their target price on shares of Potlatch from $52.00 to $51.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Zacks Research raised shares of Potlatch from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Bank of America cut Potlatch from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $49.00 to $46.00 in a research note on Monday, November 17th. DA Davidson restated a “neutral” rating and issued a $40.00 price target (down from $54.00) on shares of Potlatch in a research note on Thursday, November 13th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $48.00 target price on shares of Potlatch in a research report on Monday, November 10th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Potlatch currently has a consensus rating of “Hold” and an average target price of $45.67.

About Potlatch

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.