Insider Selling: Potlatch (NASDAQ:PCH) CEO Sells 313 Shares of Stock

Potlatch Corporation (NASDAQ:PCH) CEO Eric Cremers sold 313 shares of Potlatch stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $39.63, for a total value of $12,404.19. Following the completion of the transaction, the chief executive officer owned 296,424 shares of the company’s stock, valued at $11,747,283.12. This trade represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Potlatch Stock Down 1.3%

Potlatch stock traded down $0.55 during midday trading on Tuesday, hitting $40.30. The stock had a trading volume of 819,794 shares, compared to its average volume of 609,431. The business has a fifty day moving average price of $39.85 and a 200 day moving average price of $40.83. Potlatch Corporation has a 12 month low of $36.82 and a 12 month high of $48.12. The stock has a market cap of $3.11 billion, a P/E ratio of 49.15 and a beta of 1.09. 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 EPS for the quarter. Potlatch had a return on equity of 3.38% and a net margin of 5.76%.The company had revenue of $354.19 million during the quarter. Research analysts predict that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, December 15th. Potlatch’s dividend payout ratio is currently 219.51%.

Institutional Trading of Potlatch

Several hedge funds have recently added to or reduced their stakes in PCH. CIBC Private Wealth Group LLC grew its stake in shares of Potlatch by 216.6% in the third quarter. CIBC Private Wealth Group LLC now owns 1,184 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 810 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Potlatch in the third quarter worth about $341,000. Adelante Capital Management LLC grew its position in Potlatch by 9.7% in the 3rd quarter. Adelante Capital Management LLC now owns 53,345 shares of the real estate investment trust’s stock valued at $2,174,000 after buying an additional 4,723 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in Potlatch by 8.8% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 42,825 shares of the real estate investment trust’s stock valued at $1,724,000 after buying an additional 3,456 shares in the last quarter. Finally, Verition Fund Management LLC increased its stake in Potlatch by 200.3% during the 3rd quarter. Verition Fund Management LLC now owns 94,116 shares of the real estate investment trust’s stock valued at $3,835,000 after buying an additional 62,774 shares during the period. Institutional investors own 86.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Citigroup decreased their target price on Potlatch from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Truist Financial reduced their price objective on Potlatch from $52.00 to $51.00 and set a “buy” rating for the company in a research report on Monday, October 13th. DA Davidson reaffirmed a “neutral” rating and issued a $40.00 target price (down from $54.00) on shares of Potlatch in a research report on Thursday, November 13th. Royal Bank Of Canada reissued a “sector perform” rating and set a $48.00 price target on shares of Potlatch in a report on Monday, November 10th. Finally, Bank of America lowered shares of 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. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Potlatch presently has a consensus rating of “Hold” and a consensus price target of $45.80.

Potlatch Company Profile

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.