Bank of America Corp. upgraded shares of Potlatch Corp. (NASDAQ:PCH) from an underperform rating to a neutral rating in a research note published on Monday morning.
Several other analysts also recently issued reports on the stock. TheStreet downgraded shares of Potlatch Corp. from a buy rating to a hold rating in a research report on Friday, August 26th. DA Davidson downgraded shares of Potlatch Corp. from a buy rating to a neutral rating and reduced their price target for the company from $56.00 to $40.00 in a research report on Wednesday, July 27th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Potlatch Corp. from a hold rating to a buy rating and set a $39.00 price target for the company in a research report on Tuesday, July 5th. Finally, Royal Bank Of Canada lifted their price target on shares of Potlatch Corp. from $42.00 to $45.00 and gave the company an outperform rating in a research report on Friday, June 17th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Potlatch Corp. presently has an average rating of Hold and a consensus price target of $40.25.
Potlatch Corp. (NASDAQ:PCH) opened at 37.46 on Monday. The stock has a 50 day moving average of $38.04 and a 200 day moving average of $35.46. Potlatch Corp. has a 12 month low of $24.01 and a 12 month high of $39.91. The company’s market capitalization is $1.52 billion.
Potlatch Corp. (NASDAQ:PCH) last announced its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.13 EPS for the quarter, topping the consensus estimate of $0.06 by $0.07. Potlatch Corp. had a negative net margin of 0.99% and a positive return on equity of 16.52%. The company earned $141.50 million during the quarter, compared to the consensus estimate of $128.70 million. During the same quarter last year, the firm posted $0.02 EPS. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Equities analysts anticipate that Potlatch Corp. will post $1.05 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Tuesday, September 20th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Friday, September 16th. Potlatch Corp.’s dividend payout ratio is -1,000.00%.
Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in Potlatch Corp. by 4.5% in the second quarter. Public Employees Retirement System of Ohio now owns 2,988 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 128 shares in the last quarter. Teacher Retirement System of Texas increased its position in Potlatch Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,682 shares of the real estate investment trust’s stock worth $194,000 after buying an additional 689 shares in the last quarter. Sterling Investment Management Inc. purchased a new position in Potlatch Corp. during the second quarter worth about $879,000. Hancock Holding Co. purchased a new position in Potlatch Corp. during the second quarter worth about $210,000. Finally, Bayesian Capital Management LP purchased a new position in Potlatch Corp. during the first quarter worth about $207,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.
Potlatch Corp. Company Profile