Stephens Inc. AR significantly increased its holdings in Potlatch Corporation (NASDAQ: PCH) by an impressive 207.3% during the third quarter of 2023. This expansion saw the firm acquire an additional 15,701 shares, bringing its total ownership to 23,275 shares. At the close of this reporting period, these shares were valued at approximately $948,000.
Other institutional investors also adjusted their positions in Potlatch. Coastline Trust Co initiated a new stake in the company worth $26,000 during the same quarter. Meanwhile, GAMMA Investing LLC increased its stake by 61.1% in the second quarter, owning 1,084 shares valued at $42,000 after acquiring an additional 411 shares. UMB Bank n.a. boosted its holdings by 32.3%, resulting in 1,143 shares worth $44,000 following a purchase of 279 shares. Other notable investors include the United Services Automobile Association, which bought into Potlatch for about $204,000, and M&G PLC, with a new position valued at approximately $196,000.
Hedge funds and institutional investors collectively own 86.06% of Potlatch’s stock.
Current Stock Performance and Dividends
On Monday, shares of Potlatch opened at $45.39. The stock has shown a 50-day moving average of $40.29 and a 200-day moving average of $41.05. The company has a market capitalization of $3.51 billion, with a debt-to-equity ratio of 0.53 and a current ratio of 1.96. Potlatch has experienced a fifty-two week low of $36.82 and a high of $48.12.
The company recently declared a quarterly dividend of $0.45 per share, which was paid on December 31, 2023, to shareholders on record as of December 15. This dividend translates to an annualized yield of 4.0%. Notably, Potlatch’s dividend payout ratio stands at 219.51%, suggesting a significant commitment to returning value to shareholders.
Analyst Ratings and Insider Activity
Equity research analysts have provided varied assessments of Potlatch’s stock. DA Davidson maintained a “neutral” rating, reducing its price target from $54.00 to $40.00. Citigroup adjusted its price objective from $44.00 to $45.00, retaining a “neutral” rating. Truist Financial also cut its target from $52.00 to $51.00 while maintaining a “buy” rating. In contrast, Bank of America downgraded Potlatch from “buy” to “underperform,” lowering its price target from $49.00 to $46.00. Zacks Research upgraded its rating from “strong sell” to “hold.” Currently, one analyst rates the stock as a “buy,” six as “hold,” and one as “sell,” leading to an average rating of “hold” with an average price target of $45.83.
Insider trading activity has also been notable. Vice President Ashlee Townsend Cribb sold 4,756 shares on December 22, 2023, at an average price of $39.35, totaling $187,148.60. After this transaction, Cribb held 39,619 shares valued at approximately $1,559,007.65, reflecting a 10.72% decrease in position. Chief Accounting Officer Glen F. Smith also sold 738 shares on January 9, 2024, for $30,848.40, resulting in an 8.29% reduction of his holdings to 8,159 shares.
Over the past quarter, insiders have sold a total of 43,569 shares valued at $1,715,897, and 1.00% of the stock is currently held by insiders.
PotlatchDeltic Corporation, trading under the ticker PCH, is a real estate investment trust (REIT) based in Spokane, Washington. The firm specializes in the management and sustainable ownership of timberland, holding approximately two million acres across the United States. Its operations focus on responsible forest management practices, including reforestation and wildfire mitigation, serving both residential and industrial markets.
