Potlatch (PCH) Downgraded to “Strong Sell” at BidaskClub
BidaskClub downgraded shares of Potlatch (NASDAQ:PCH) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday morning.
A number of other equities analysts have also issued reports on PCH. Zacks Investment Research lowered Potlatch from a strong-buy rating to a hold rating in a report on Wednesday, October 25th. Vertical Research lowered Potlatch from a hold rating to a sell rating in a report on Wednesday, October 4th. BMO Capital Markets reissued a hold rating on shares of Potlatch in a report on Monday, October 23rd. Bank of America raised their price target on Potlatch from $50.00 to $54.00 and gave the stock an underperform rating in a report on Wednesday, October 25th. Finally, DA Davidson raised their price target on Potlatch to $47.00 and gave the stock an underperform rating in a report on Tuesday, October 24th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $48.60.
Shares of Potlatch (NASDAQ:PCH) opened at $49.45 on Wednesday. The company has a current ratio of 2.17, a quick ratio of 1.72 and a debt-to-equity ratio of 2.92. Potlatch has a 52-week low of $39.05 and a 52-week high of $56.35. The company has a market capitalization of $2,010.00, a PE ratio of 22.89, a PEG ratio of 4.08 and a beta of 1.44.
Potlatch (NASDAQ:PCH) last posted its earnings results on Monday, October 23rd. The real estate investment trust reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.06. Potlatch had a return on equity of 54.42% and a net margin of 13.54%. The business had revenue of $190.40 million for the quarter, compared to analysts’ expectations of $187.29 million. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. research analysts forecast that Potlatch will post 2.39 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.24%. This is a positive change from Potlatch’s previous quarterly dividend of $0.38. Potlatch’s dividend payout ratio (DPR) is currently 74.07%.
In other Potlatch news, VP William R. Dereu sold 4,720 shares of Potlatch stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $52.50, for a total value of $247,800.00. Following the sale, the vice president now owns 26,142 shares of the company’s stock, valued at approximately $1,372,455. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.52% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. boosted its stake in shares of Potlatch by 101.3% during the 2nd quarter. Sei Investments Co. now owns 27,513 shares of the real estate investment trust’s stock worth $1,258,000 after acquiring an additional 13,848 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Potlatch by 4.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 246,854 shares of the real estate investment trust’s stock worth $11,282,000 after acquiring an additional 10,183 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Potlatch by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 17,100 shares of the real estate investment trust’s stock worth $781,000 after acquiring an additional 200 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Potlatch by 1.0% during the 2nd quarter. Rhumbline Advisers now owns 94,462 shares of the real estate investment trust’s stock worth $4,317,000 after acquiring an additional 948 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Potlatch by 4.4% during the 2nd quarter. SG Americas Securities LLC now owns 9,893 shares of the real estate investment trust’s stock worth $452,000 after acquiring an additional 413 shares in the last quarter. 84.79% of the stock is currently owned by institutional investors.
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Potlatch Corporation is a real estate investment trust (REIT), which is primarily engaged in activities associated with timberland management, including the sale of timber, management of timberlands, and purchase and sale of timberlands. The Company is also engaged in the manufacture and sale of wood products.
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