QS Investors LLC cut its position in Potlatch Co. (NASDAQ:PCH) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 138,893 shares of the real estate investment trust’s stock after selling 5,689 shares during the quarter. QS Investors LLC’s holdings in Potlatch were worth $6,931,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in PCH. Nationwide Fund Advisors boosted its stake in Potlatch by 101.3% during the 3rd quarter. Nationwide Fund Advisors now owns 271,388 shares of the real estate investment trust’s stock valued at $13,841,000 after acquiring an additional 136,601 shares during the last quarter. American Century Companies Inc. boosted its stake in Potlatch by 120.8% during the 3rd quarter. American Century Companies Inc. now owns 876,175 shares of the real estate investment trust’s stock valued at $44,685,000 after acquiring an additional 479,278 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Potlatch by 112.4% during the 3rd quarter. Principal Financial Group Inc. now owns 369,872 shares of the real estate investment trust’s stock valued at $18,863,000 after acquiring an additional 195,726 shares during the last quarter. Bessemer Group Inc. bought a new position in Potlatch during the 3rd quarter valued at $342,000. Finally, Sei Investments Co. boosted its stake in Potlatch by 7.9% during the 3rd quarter. Sei Investments Co. now owns 29,685 shares of the real estate investment trust’s stock valued at $1,514,000 after acquiring an additional 2,172 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.
Shares of Potlatch Co. (NASDAQ:PCH) opened at $51.45 on Tuesday. The firm has a market cap of $2,052.89, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 3.39 and a beta of 1.36. Potlatch Co. has a twelve month low of $42.97 and a twelve month high of $56.35. The company has a current ratio of 2.58, a quick ratio of 1.91 and a debt-to-equity ratio of 2.79.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Wednesday, March 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, March 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.11%. Potlatch’s dividend payout ratio (DPR) is 76.19%.
In other Potlatch news, VP Thomas J. Temple sold 2,401 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $54.41, for a total transaction of $130,638.41. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Covey sold 98,939 shares of the stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $51.01, for a total transaction of $5,046,878.39. Following the sale, the chief executive officer now directly owns 211,523 shares in the company, valued at $10,789,788.23. The disclosure for this sale can be found here. Insiders have sold 165,283 shares of company stock worth $8,566,098 over the last three months. 1.52% of the stock is owned by corporate insiders.
PCH has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Potlatch from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Wednesday, December 27th. BidaskClub downgraded shares of Potlatch from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 27th. UBS Group upgraded shares of Potlatch from a “market perform” rating to an “outperform” rating in a research note on Monday, January 8th. BMO Capital Markets increased their price objective on shares of Potlatch from $42.00 to $49.00 and gave the company a “market perform” rating in a research note on Monday, February 12th. Finally, 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, January 2nd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Potlatch currently has a consensus rating of “Hold” and a consensus price target of $51.17.
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PotlatchDeltic Corp, formerly 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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