Potlatch (NASDAQ:PCH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Potlatch Corporation is a Real Estate Investment Trust (REIT) with approximately 1.4 million acres of timberland in Alabama, Arkansas, Idaho, Minnesota and Mississippi. Potlatch, a certified forest practices leader, is committed to providing superior returns to stockholders through long-term stewardship of its forest resources. The company also conducts a land sales and development business and operates wood products manufacturing facilities through its taxable REIT subsidiary. “
Other equities analysts have also recently issued research reports about the stock. BidaskClub cut shares of Potlatch from a “hold” rating to a “sell” rating in a research note on Saturday, December 2nd. Vertical Research cut shares of Potlatch from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. BMO Capital Markets reiterated a “hold” rating on shares of Potlatch in a research note on Monday, October 23rd. Bank of America upgraded shares of Potlatch from an “underperform” rating to a “neutral” rating and set a $54.00 price objective on the stock in a research note on Tuesday. Finally, DA Davidson increased their price objective on shares of Potlatch to $47.00 and gave the stock an “underperform” rating in a research note on Tuesday, October 24th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Potlatch currently has an average rating of “Hold” and an average price target of $48.60.
Potlatch (NASDAQ:PCH) last posted its earnings results on Monday, October 23rd. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.06. The business had revenue of $190.40 million for the quarter, compared to analysts’ expectations of $187.29 million. Potlatch had a net margin of 13.54% and a return on equity of 54.42%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS. equities research analysts forecast that Potlatch will post 2.39 earnings per share for the current fiscal year.
In other Potlatch news, VP William R. Dereu sold 4,720 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $52.50, for a total transaction of $247,800.00. Following the sale, the vice president now owns 26,142 shares in the company, valued at approximately $1,372,455. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.52% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Investment Management Company LLC grew its holdings in Potlatch by 0.4% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 7,018 shares of the real estate investment trust’s stock valued at $239,000 after buying an additional 30 shares in the last quarter. Amalgamated Bank grew its holdings in Potlatch by 4.6% during the 2nd quarter. Amalgamated Bank now owns 5,838 shares of the real estate investment trust’s stock valued at $267,000 after buying an additional 255 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in Potlatch by 0.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 110,575 shares of the real estate investment trust’s stock valued at $5,053,000 after buying an additional 339 shares in the last quarter. SG Americas Securities LLC grew its holdings in 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 valued at $452,000 after buying an additional 413 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in Potlatch by 19.4% during the 2nd quarter. D.A. Davidson & CO. now owns 2,600 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 423 shares in the last quarter. Institutional investors own 84.79% of the company’s stock.
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Potlatch Company Profile
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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