The Potlatch Corporation (PCH) Downgraded to “Hold” at Zacks Investment Research

The Potlatch Corporation (PCH) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Potlatch Corporation (NASDAQ:PCH) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Potlatch Corp. is an integrated forest products company with substantial timber resources. It is engaged principally in the growing and harvesting of timber and the manufacture and sale of wood products, printing papers and pulp and paper products. Its timberlands and all of its manufacturing facilities are located within the continental United States. “

PCH has been the topic of a number of other reports. BidaskClub upgraded shares of Potlatch Corporation from a hold rating to a buy rating in a research report on Wednesday, September 27th. Vertical Research downgraded shares of Potlatch Corporation from a hold rating to a sell rating in a report on Wednesday, October 4th. BMO Capital Markets restated a hold rating on shares of Potlatch Corporation in a report on Monday. Raymond James Financial, Inc. downgraded shares of Potlatch Corporation from an outperform rating to a market perform rating in a report on Tuesday, June 27th. Finally, UBS Group AG downgraded shares of Potlatch Corporation from an outperform rating to a market perform rating in a report on Tuesday, June 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Potlatch Corporation has a consensus rating of Hold and a consensus price target of $49.40.

Potlatch Corporation (NASDAQ PCH) traded up 2.96% during mid-day trading on Wednesday, hitting $52.15. 526,164 shares of the company were exchanged. The company has a 50 day moving average of $50.51 and a 200 day moving average of $47.34. Potlatch Corporation has a 12-month low of $36.35 and a 12-month high of $56.35. The stock has a market cap of $2.12 billion, a P/E ratio of 25.80 and a beta of 1.41.

Potlatch Corporation (NASDAQ:PCH) last announced its quarterly earnings results on Monday, October 23rd. The real estate investment trust reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The business had revenue of $190.40 million for the quarter, compared to the consensus estimate of $187.29 million. Potlatch Corporation had a net margin of 13.54% and a return on equity of 54.42%. Potlatch Corporation’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. On average, equities research analysts expect that Potlatch Corporation will post $2.40 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 8th will be issued a $0.40 dividend. The ex-dividend date is Thursday, December 7th. This is an increase from Potlatch Corporation’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.16%. Potlatch Corporation’s dividend payout ratio (DPR) is 69.12%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. D.A. Davidson & CO. raised its holdings in shares of Potlatch Corporation by 19.4% in the second quarter. D.A. Davidson & CO. now owns 2,600 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 423 shares during the last quarter. LS Investment Advisors LLC grew its stake in shares of Potlatch Corporation by 18.2% in the second quarter. LS Investment Advisors LLC now owns 3,140 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 483 shares in the last quarter. Riverhead Capital Management LLC grew its stake in shares of Potlatch Corporation by 75.3% in the second quarter. Riverhead Capital Management LLC now owns 3,331 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 1,431 shares in the last quarter. Flinton Capital Management LLC grew its stake in shares of Potlatch Corporation by 68.8% in the second quarter. Flinton Capital Management LLC now owns 4,420 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 1,802 shares in the last quarter. Finally, Laurion Capital Management LP bought a new position in shares of Potlatch Corporation in the second quarter valued at $210,000. Institutional investors own 83.43% of the company’s stock.

About Potlatch Corporation

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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