BNP Paribas Arbitrage SA decreased its holdings in Potlatchdeltic Corp (NASDAQ:PCH) by 55.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,191 shares of the real estate investment trust’s stock after selling 8,928 shares during the period. BNP Paribas Arbitrage SA’s holdings in Potlatchdeltic were worth $366,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Contravisory Investment Management Inc. purchased a new stake in shares of Potlatchdeltic in the 2nd quarter valued at approximately $142,000. Csenge Advisory Group purchased a new stake in shares of Potlatchdeltic in the 1st quarter valued at approximately $200,000. Mariner LLC purchased a new stake in shares of Potlatchdeltic in the 1st quarter valued at approximately $203,000. Zeke Capital Advisors LLC purchased a new stake in shares of Potlatchdeltic in the 1st quarter valued at approximately $205,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Potlatchdeltic by 124.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,023 shares of the real estate investment trust’s stock valued at $209,000 after buying an additional 2,234 shares during the period. Institutional investors own 82.54% of the company’s stock.
NASDAQ:PCH opened at $47.70 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.21 and a quick ratio of 2.40. The company has a market cap of $2.86 billion, a P/E ratio of 20.21, a P/E/G ratio of 3.27 and a beta of 1.17. Potlatchdeltic Corp has a fifty-two week low of $43.85 and a fifty-two week high of $56.35.
Potlatchdeltic (NASDAQ:PCH) last posted its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.14. The firm had revenue of $268.20 million during the quarter, compared to analysts’ expectations of $271.88 million. Potlatchdeltic had a net margin of 12.72% and a return on equity of 18.57%. The firm’s quarterly revenue was up 64.3% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. equities analysts forecast that Potlatchdeltic Corp will post 2.79 EPS for the current year.
In other Potlatchdeltic news, VP Lorrie D. Scott sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $47.06, for a total value of $70,590.00. Following the completion of the transaction, the vice president now owns 14,586 shares of the company’s stock, valued at approximately $686,417.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.00% of the company’s stock.
Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Potlatchdeltic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 26th. ValuEngine cut shares of Potlatchdeltic from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. BidaskClub raised shares of Potlatchdeltic from a “strong sell” rating to a “sell” rating in a research report on Friday. DA Davidson raised shares of Potlatchdeltic from an “underperform” rating to a “neutral” rating and set a $44.00 price objective for the company in a research report on Monday, May 7th. Finally, Royal Bank of Canada raised shares of Potlatchdeltic from a “sector perform” rating to an “outperform” rating and set a $47.00 price objective for the company in a research report on Monday, May 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $50.83.
PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland sales program.
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