Allianz Asset Management GmbH purchased a new stake in Potlatch Co. (NASDAQ:PCH) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 259,100 shares of the real estate investment trust’s stock, valued at approximately $12,929,000. Allianz Asset Management GmbH owned approximately 0.64% of Potlatch as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Potlatch by 2.4% in the fourth quarter. BlackRock Inc. now owns 5,067,179 shares of the real estate investment trust’s stock valued at $252,853,000 after acquiring an additional 118,587 shares during the last quarter. American Century Companies Inc. boosted its holdings in Potlatch by 43.6% in the fourth quarter. American Century Companies Inc. now owns 1,258,456 shares of the real estate investment trust’s stock valued at $62,797,000 after acquiring an additional 382,281 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Potlatch by 0.5% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 825,451 shares of the real estate investment trust’s stock valued at $42,098,000 after buying an additional 4,504 shares during the period. Bank of New York Mellon Corp lifted its stake in Potlatch by 12.3% in the fourth quarter. Bank of New York Mellon Corp now owns 773,941 shares of the real estate investment trust’s stock valued at $38,619,000 after buying an additional 85,048 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Potlatch by 2.4% in the third quarter. JPMorgan Chase & Co. now owns 571,676 shares of the real estate investment trust’s stock valued at $29,298,000 after buying an additional 13,584 shares during the period. Hedge funds and other institutional investors own 89.84% of the company’s stock.
In related news, VP William R. Dereu sold 3,690 shares of the stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $51.83, for a total transaction of $191,252.70. Following the sale, the vice president now owns 26,895 shares of the company’s stock, valued at approximately $1,393,967.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas J. Temple sold 2,401 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $54.41, for a total value of $130,638.41. The disclosure for this sale can be found here. Insiders have sold a total of 173,669 shares of company stock valued at $9,001,448 in the last quarter. 1.52% of the stock is owned by corporate insiders.
Several equities analysts have issued reports on the company. BidaskClub raised Potlatch from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 4th. Zacks Investment Research raised Potlatch from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, December 27th. UBS raised Potlatch from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. Bank of America raised Potlatch from an “underperform” rating to a “neutral” rating and set a $54.00 target price on the stock in a research report on Tuesday, January 2nd. Finally, Raymond James Financial raised Potlatch from a “market perform” rating to an “outperform” rating and set a $54.00 target price on the stock in a research report on Monday, January 8th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Potlatch has an average rating of “Hold” and a consensus target price of $51.17.
NASDAQ:PCH traded down $0.05 during trading on Monday, reaching $52.00. The company’s stock had a trading volume of 791,571 shares, compared to its average volume of 691,156. The company has a market capitalization of $2,113.80, a PE ratio of 22.01, a price-to-earnings-growth ratio of 3.49 and a beta of 1.30. The company has a debt-to-equity ratio of 2.79, a current ratio of 2.58 and a quick ratio of 1.91. Potlatch Co. has a 12 month low of $43.15 and a 12 month high of $56.35.
Potlatch (NASDAQ:PCH) last announced its quarterly earnings data on Monday, January 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.06). The business had revenue of $175.24 million during the quarter, compared to the consensus estimate of $170.54 million. Potlatch had a net margin of 12.74% and a return on equity of 55.47%. sell-side analysts anticipate that Potlatch Co. will post 2.98 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Wednesday, March 7th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, March 6th. This represents a $1.60 annualized dividend and a dividend yield of 3.08%. Potlatch’s payout ratio is 67.80%.
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Potlatch Company Profile
PotlatchDeltic Corp, formerly 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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