Turner Investments LLC acquired a new position in Potlatch Corporation (NASDAQ:PCH) during the fourth quarter, Holdings Channel reports. The fund acquired 12,000 shares of the real estate investment trust’s stock, valued at approximately $500,000.
Several other hedge funds have also recently made changes to their positions in PCH. Radnor Capital Management LLC bought a new position in Potlatch Corporation during the fourth quarter valued at $352,000. 1060 Capital LLC bought a new position in Potlatch Corporation during the fourth quarter valued at $10,785,000. Russell Investments Group Ltd. bought a new position in Potlatch Corporation during the fourth quarter valued at $18,259,000. D.A. Davidson & CO. boosted its position in Potlatch Corporation by 3.7% in the third quarter. D.A. Davidson & CO. now owns 94,763 shares of the real estate investment trust’s stock valued at $3,684,000 after buying an additional 3,372 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. boosted its position in Potlatch Corporation by 0.6% in the third quarter. Laurel Wealth Advisors Inc. now owns 18,879 shares of the real estate investment trust’s stock valued at $734,000 after buying an additional 110 shares during the last quarter. 84.91% of the stock is owned by hedge funds and other institutional investors.
Potlatch Corporation (NASDAQ:PCH) traded down 1.45% during midday trading on Monday, hitting $44.10. 176,645 shares of the stock traded hands. Potlatch Corporation has a 52-week low of $25.25 and a 52-week high of $45.50. The firm has a market cap of $1.80 billion, a PE ratio of 164.55 and a beta of 1.40. The stock has a 50-day moving average of $41.72 and a 200 day moving average of $39.82.
Potlatch Corporation (NASDAQ:PCH) last released its earnings results on Tuesday, January 31st. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. Potlatch Corporation had a return on equity of 29.63% and a net margin of 1.83%. The company earned $155.70 million during the quarter, compared to the consensus estimate of $147.43 million. During the same quarter last year, the company earned $0.09 earnings per share. Potlatch Corporation’s quarterly revenue was up 12.2% compared to the same quarter last year. Equities analysts forecast that Potlatch Corporation will post $1.57 EPS for the current year.
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Several equities analysts recently weighed in on PCH shares. Vertical Research cut shares of Potlatch Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, November 16th. TheStreet raised shares of Potlatch Corporation from a “hold” rating to a “buy” rating in a research note on Monday, November 14th. Buckingham Research cut shares of Potlatch Corporation from a “buy” rating to a “neutral” rating and set a $42.00 target price for the company. in a research note on Monday, October 17th. Zacks Investment Research raised shares of Potlatch Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, October 26th. Finally, Vertical Group cut shares of Potlatch Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $42.20.
In other Potlatch Corporation news, VP William R. Dereu sold 4,216 shares of the firm’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $41.55, for a total value of $175,174.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.46% of the stock is currently owned by company insiders.
Potlatch Corporation Company Profile
Potlatch Corporation is a real estate investment trust (REIT). The Company operates through three segments: Resource, Wood Products and Real Estate. The Resource segment management activities include planting and harvesting trees, and building and maintaining roads. Its activities also include hunting leases, recreation permits and leases, mineral rights leases, biomass production and carbon sequestration.
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