Potlatch Corporation (PCH) : Summit Capital Management reduced its stake in Potlatch Corporation by 15.82% during the most recent quarter end. The investment management company now holds a total of 137,423 shares of Potlatch Corporation which is valued at $4.7 Million after selling 25,825 shares in Potlatch Corporation , the firm said in a disclosure report filed with the SEC on May 11, 2016.Potlatch Corporation makes up approximately 2.14% of Summit Capital Management’s portfolio.
Other Hedge Funds, Including , Capital Innovations reduced its stake in PCH by selling 4,370 shares or 5.7% in the most recent quarter. The Hedge Fund company now holds 72,320 shares of PCH which is valued at $2.5 Million. Potlatch Corporation makes up approx 4.30% of Capital Innovations’s portfolio.Ls Investment Advisors boosted its stake in PCH in the latest quarter, The investment management firm added 59 additional shares and now holds a total of 1,368 shares of Potlatch Corporation which is valued at $47,182.Blackrock Investment Management boosted its stake in PCH in the latest quarter, The investment management firm added 8,341 additional shares and now holds a total of 245,069 shares of Potlatch Corporation which is valued at $8.5 Million. Potlatch Corporation makes up approx 0.01% of Blackrock Investment Management’s portfolio.Nationwide Fund Advisors reduced its stake in PCH by selling 45,408 shares or 32.76% in the most recent quarter. The Hedge Fund company now holds 93,203 shares of PCH which is valued at $3.2 Million. Potlatch Corporation makes up approx 0.01% of Nationwide Fund Advisors’s portfolio. Quantbot Technologies Lp sold out all of its stake in PCH during the most recent quarter. The investment firm sold 8,810 shares of PCH which is valued $310,288.
Potlatch Corporation opened for trading at $34.52 and hit $35.15 on the upside on Monday, eventually ending the session at $35, with a gain of 1.48% or 0.51 points. The heightened volatility saw the trading volume jump to 3,01,252 shares. Company has a market cap of $1,424 M.
On the company’s financial health, Potlatch Corporation reported $0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jan 26, 2016. Analyst had a consensus of $0.05. The company had revenue of $138.00 million for the quarter, compared to analysts expectations of $146.10 million. The company’s revenue was down -5.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.45 EPS.
Investors should note that on May 4, 2016, Potlatch Corporation announced a cash dividend of $0.3750. The company’s management has announced Jun 6, 2016 as the ex-dividend date and fixed the record date on Jun 8, 2016. The payable date has been fixed on Jun 30, 2016.
Many Wall Street Analysts have commented on Potlatch Corporation. Company shares were Reiterated by RBC Capital Mkts on Apr 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 42 from a previous price target of $38 .
Potlatch Corporation is a real estate investment trust (REIT). The Company owns approximately 1.6 million acres of timberlands in Alabama Arkansas Idaho Minnesota and Mississippi. The Company operates in three business segments: Resource Wood Products and Real Estate. The Resource segment manages the Company’s timberlands. Its Wood Products segment manufactures and markets lumber and plywood. The business of its Real Estate segment consists primarily of the sale of selected non-core timberland real estate which consists of three categories of property: higher and better use (HBU) rural real estate and non-strategic The Real Estate segment is engaged in real estate sales subdivision and development activities through Potlatch TRS. The Company through its wholly owned subsidiaries operates real estate sales and development business and five wood products manufacturing facilities that produce lumber and plywood.