Potlatch Corporation $PCH Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its position in shares of Potlatch Corporation (NASDAQ:PCH) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,520,077 shares of the real estate investment trust’s stock after selling 142,617 shares during the quarter. Vanguard Group Inc. owned 0.14% of Potlatch worth $428,693,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Potlatch by 3.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,814 shares of the real estate investment trust’s stock valued at $2,112,000 after buying an additional 1,598 shares during the last quarter. Millennium Management LLC increased its stake in shares of Potlatch by 6.4% in the first quarter. Millennium Management LLC now owns 370,422 shares of the real estate investment trust’s stock worth $16,713,000 after acquiring an additional 22,359 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Potlatch by 6.7% during the first quarter. Goldman Sachs Group Inc. now owns 427,161 shares of the real estate investment trust’s stock worth $19,273,000 after purchasing an additional 26,948 shares during the last quarter. United Services Automobile Association acquired a new position in Potlatch during the first quarter valued at $204,000. Finally, Jane Street Group LLC lifted its position in Potlatch by 319.3% during the first quarter. Jane Street Group LLC now owns 189,230 shares of the real estate investment trust’s stock valued at $8,538,000 after purchasing an additional 144,101 shares during the period. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Potlatch

In related news, VP William R. Dereu sold 3,278 shares of Potlatch stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $39.33, for a total value of $128,923.74. Following the sale, the vice president directly owned 73,845 shares in the company, valued at approximately $2,904,323.85. The trade was a 4.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Eric J. Cremers sold 24,123 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $39.33, for a total value of $948,757.59. Following the transaction, the chief executive officer directly owned 296,043 shares of the company’s stock, valued at $11,643,371.19. The trade was a 7.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders 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 owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PCH shares. BMO Capital Markets downgraded Potlatch from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $51.00 to $45.00 in a research report on Thursday, January 8th. Citigroup upped their price objective on Potlatch from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. DA Davidson reaffirmed a “neutral” rating and set a $40.00 target price (down from $54.00) on shares of Potlatch in a report on Thursday, November 13th. Bank of America downgraded 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 report on Monday, November 17th. Finally, Zacks Research raised shares of Potlatch from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $45.83.

Potlatch Price Performance

Shares of NASDAQ PCH opened at $41.73 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.26 and a current ratio of 1.96. The firm has a fifty day moving average of $41.78 and a 200 day moving average of $41.29. The firm has a market cap of $3.23 billion, a PE ratio of 50.89 and a beta of 1.09. Potlatch Corporation has a one year low of $36.82 and a one year high of $48.12.

Potlatch Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, December 15th. Potlatch’s dividend payout ratio is 219.51%.

Potlatch 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.