Potlatch Corporation (NASDAQ:PCH) Short Interest Update

Potlatch Corporation (NASDAQ:PCH) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 850,818 shares, a decrease of 41.6% from the December 15th total of 1,456,154 shares. Based on an average trading volume of 621,717 shares, the days-to-cover ratio is presently 1.4 days. Approximately 1.1% of the company’s shares are sold short. Approximately 1.1% of the company’s shares are sold short. Based on an average trading volume of 621,717 shares, the days-to-cover ratio is presently 1.4 days.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PCH. Bank of America cut Potlatch from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $49.00 to $46.00 in a research report on Monday, November 17th. Truist Financial lowered their price target on Potlatch from $52.00 to $51.00 and set a “buy” rating for the company in a report on Monday, October 13th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $48.00 price target on shares of Potlatch in a research note on Monday, November 10th. BMO Capital Markets downgraded shares of Potlatch from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $51.00 to $45.00 in a research report on Thursday, January 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.83.

Insider Activity

In other Potlatch news, VP Ashlee Townsend Cribb sold 4,756 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $39.35, for a total value of $187,148.60. Following the sale, the vice president owned 39,619 shares of the company’s stock, valued at $1,559,007.65. The trade was a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP William R. Dereu sold 3,278 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $39.33, for a total value of $128,923.74. Following the transaction, the vice president owned 73,845 shares of the company’s stock, valued at approximately $2,904,323.85. This represents a 4.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 43,569 shares of company stock worth $1,715,897 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Potlatch

A number of institutional investors and hedge funds have recently modified their holdings of PCH. Coastline Trust Co purchased a new position in Potlatch in the 3rd quarter valued at approximately $26,000. Hantz Financial Services Inc. boosted its position in shares of Potlatch by 611.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 719 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 618 shares in the last quarter. GAMMA Investing LLC increased its holdings in Potlatch by 61.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 411 shares in the last quarter. UMB Bank n.a. increased its holdings in Potlatch by 32.3% during the 2nd quarter. UMB Bank n.a. now owns 1,143 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 279 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in Potlatch by 216.6% during 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 acquiring an additional 810 shares during the last quarter. Institutional investors and hedge funds own 86.06% of the company’s stock.

Potlatch Stock Performance

PCH stock traded up $0.91 on Friday, hitting $45.39. The company’s stock had a trading volume of 603,863 shares, compared to its average volume of 538,080. Potlatch has a 1 year low of $36.82 and a 1 year 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. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 55.35 and a beta of 1.09. The firm has a 50 day moving average of $40.29 and a two-hundred day moving average of $41.04.

Potlatch (NASDAQ:PCH) last released its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.36 EPS for the quarter, topping the consensus estimate of $0.15 by $0.21. Potlatch had a return on equity of 3.38% and a net margin of 5.76%.The business had revenue of $314.18 million during the quarter, compared to analysts’ expectations of $308.13 million. Equities analysts predict that Potlatch will post 0.8 EPS for the current fiscal year.

Potlatch Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.80 dividend on an annualized basis and a yield of 4.0%. Potlatch’s payout ratio is currently 219.51%.

About Potlatch

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.