Stelac Advisory Services LLC purchased a new stake in shares of Potlatchdeltic Corp (NASDAQ:PCH) in the 1st quarter, HoldingsChannel reports. The firm purchased 4,976 shares of the real estate investment trust’s stock, valued at approximately $168,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of PCH. FMR LLC lifted its holdings in Potlatchdeltic by 199.1% during the fourth quarter. FMR LLC now owns 1,499,399 shares of the real estate investment trust’s stock valued at $47,440,000 after purchasing an additional 998,147 shares during the last quarter. Northern Trust Corp lifted its holdings in Potlatchdeltic by 6.0% during the fourth quarter. Northern Trust Corp now owns 1,435,510 shares of the real estate investment trust’s stock valued at $45,419,000 after purchasing an additional 81,310 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Potlatchdeltic by 8.2% during the fourth quarter. Bank of New York Mellon Corp now owns 931,612 shares of the real estate investment trust’s stock valued at $29,476,000 after purchasing an additional 70,849 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Potlatchdeltic by 1.2% during the fourth quarter. Brown Advisory Inc. now owns 853,978 shares of the real estate investment trust’s stock valued at $27,020,000 after purchasing an additional 10,444 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Potlatchdeltic by 3,277.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 834,758 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 810,044 shares during the last quarter. Institutional investors own 88.91% of the company’s stock.
Several equities research analysts have commented on PCH shares. Seaport Global Securities started coverage on shares of Potlatchdeltic in a report on Tuesday, April 2nd. They set a “buy” rating and a $45.00 price objective on the stock. Bank of America raised shares of Potlatchdeltic from a “neutral” rating to a “buy” rating and set a $37.88 price target on the stock in a report on Friday, April 5th. ValuEngine raised shares of Potlatchdeltic from a “sell” rating to a “hold” rating in a report on Saturday, February 2nd. BidaskClub raised shares of Potlatchdeltic from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, Vertical Research downgraded shares of Potlatchdeltic from a “buy” rating to a “hold” rating and set a $39.00 price target on the stock. in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $43.48.
Shares of Potlatchdeltic stock traded down $0.45 on Friday, reaching $37.60. The stock had a trading volume of 5,229 shares, compared to its average volume of 437,663. Potlatchdeltic Corp has a 1 year low of $28.07 and a 1 year high of $52.65. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 8.17 and a beta of 1.32. The company has a current ratio of 1.72, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56.
Potlatchdeltic (NASDAQ:PCH) last announced its quarterly earnings results on Monday, April 29th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The firm had revenue of $181.72 million for the quarter, compared to the consensus estimate of $179.89 million. Potlatchdeltic had a net margin of 12.01% and a return on equity of 8.66%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. On average, sell-side analysts predict that Potlatchdeltic Corp will post 0.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Thursday, June 6th. Potlatchdeltic’s dividend payout ratio is currently 70.18%.
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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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