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REIT Comments |
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07/29/2010
PCH $37
Potlatch PCH 2Q 2010 EPS $0.29 v $0.09 UP +222%
PCH 2Q 2010 EBITDA $33.1 million UP +357%
PCH 2Q 2010 benefitted from higher prices and harvest volume for sawlogs and lumber
PCH 2Q 2010 harvest volume UP +46%
PCH 2Q 2010 sawlog prices UP +20%
PCH 2Q 2010 lumber prices UP +34%
PCH 2Q 2010 real estate sales UP +123%
PCH expects to complete much higher real estate sales through the rest of 2010
PCH pending disposition of 41,500 acres to RMK Timber for total of $29 million in August 2010, with option for another 46,500 acres for $35 million in 4Q 2010
PCH a Specialty REIT with a portfolio of timberlands, sawlog mills and wood processing plants
PCH we rank 2 BUY
PCH market cap $1.5 billion
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