Stephens Inc. AR Increases Stake in Potlatch Corporation by 207%

Investment firm Stephens Inc. AR significantly increased its holdings in Potlatch Corporation (NASDAQ: PCH) by 207.3% during the third quarter of 2023. According to a report by Holdings Channel, the firm now owns 23,275 shares of the real estate investment trust (REIT) after acquiring an additional 15,701 shares in the quarter. At the end of the reporting period, these holdings were valued at approximately $948,000.

Several other institutional investors have also made adjustments to their positions in Potlatch recently. For instance, Coastline Trust Co acquired a new stake valued at around $26,000 in the third quarter. Meanwhile, GAMMA Investing LLC raised its position by 61.1% during the second quarter, bringing its total to 1,084 shares worth $42,000 after acquiring an additional 411 shares. Similarly, UMB Bank n.a. increased its stake by 32.3%, now holding 1,143 shares valued at $44,000.

Overall, institutional investors hold a substantial 86.06% of Potlatch’s stock, reflecting strong interest in the company.

Potlatch Financial Performance and Stock Movements

On Monday, Potlatch’s shares opened at $45.39, marking a 2.0% increase. The stock has shown resilience, with a 50-day moving average of $40.29 and a 200-day moving average of $41.05. The company maintains a debt-to-equity ratio of 0.53, a quick ratio of 1.26, and a current ratio of 1.96. With a market capitalization of approximately $3.51 billion, Potlatch’s price-to-earnings ratio stands at 55.35. The stock has fluctuated between a 52-week low of $36.82 and a 52-week high of $48.12.

Recently, Potlatch also declared a quarterly dividend of $0.45 per share, which was paid on December 31, 2023, to shareholders of record as of December 15, 2023. This translates to an annualized dividend of $1.80 and a yield of 4.0%. The dividend payout ratio is notably high at 219.51%.

Analyst Ratings and Insider Transactions

Equity research analysts have been adjusting their price targets for Potlatch. DA Davidson reaffirmed a “neutral” rating with a price target of $40.00, down from $54.00. Citigroup raised its target from $44.00 to $45.00, maintaining a “neutral” rating. Meanwhile, Truist Financial revised its target price from $52.00 to $51.00, keeping a “buy” rating. Conversely, Bank of America downgraded its rating from “buy” to “underperform,” adjusting its price target from $49.00 to $46.00.

Currently, the consensus among analysts indicates an average rating of “Hold” with a price target of $45.83.

In internal transactions, Ashlee Townsend Cribb, Vice President, sold 4,756 shares at an average price of $39.35, totaling approximately $187,148.60. Following this sale, Cribb holds 39,619 shares valued at around $1.56 million. Additionally, Glen F. Smith, Chief Accounting Officer, sold 738 shares for about $30,848.40, reducing his position by 8.29%.

Over the last quarter, insiders have sold a total of 43,569 shares of Potlatch stock, valued at approximately $1.72 million. Currently, insiders hold about 1.00% of the company’s stock.

Potlatch Corporation, headquartered in Spokane, Washington, specializes in the sustainable management of timberland, owning approximately two million acres across the United States. The company’s operations include timberland stewardship as well as the manufacturing and marketing of wood products aimed at various markets, ensuring responsible forest management practices.