Foster & Motley Inc. raised its stake in Potlatchdeltic Corp (NASDAQ:PCH) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,211 shares of the real estate investment trust’s stock after buying an additional 3,884 shares during the period. Foster & Motley Inc.’s holdings in Potlatchdeltic were worth $2,578,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Northern Trust Corp increased its holdings in shares of Potlatchdeltic by 6.0% in the 4th quarter. Northern Trust Corp now owns 1,435,510 shares of the real estate investment trust’s stock worth $45,419,000 after buying an additional 81,310 shares during the last quarter. FMR LLC grew its holdings in shares of Potlatchdeltic by 199.1% during the 4th 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. Morgan Stanley grew its holdings in shares of Potlatchdeltic by 24.9% during the 3rd quarter. Morgan Stanley now owns 440,817 shares of the real estate investment trust’s stock valued at $18,051,000 after purchasing an additional 87,831 shares during the last quarter. Old Port Advisors bought a new position in shares of Potlatchdeltic during the 4th quarter valued at $1,473,000. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Potlatchdeltic by 4.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 17,950 shares of the real estate investment trust’s stock valued at $568,000 after purchasing an additional 750 shares during the last quarter. 88.91% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on PCH shares. 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 “strong sell” rating to a “sell” rating in a report on Wednesday, February 20th. BMO Capital Markets raised shares of Potlatchdeltic from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Monday, March 11th. 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 target price on the stock. Finally, Bank of America raised shares of Potlatchdeltic from a “neutral” rating to a “buy” rating and set a $37.88 target price on the stock in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $43.48.
Shares of PCH opened at $37.13 on Monday. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 8.09 and a beta of 1.32. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.72 and a quick ratio of 1.19. Potlatchdeltic Corp has a twelve month low of $28.07 and a twelve month high of $52.65.
Potlatchdeltic (NASDAQ:PCH) last announced its quarterly earnings results on Monday, April 29th. The real estate investment trust reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.04. The business had revenue of $181.72 million during the quarter, compared to analysts’ expectations of $179.89 million. Potlatchdeltic had a net margin of 12.01% and a return on equity of 8.66%. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 EPS. As a group, equities research analysts forecast that Potlatchdeltic Corp will post 0.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.60 annualized dividend and a yield of 4.31%. Potlatchdeltic’s payout ratio is currently 70.18%.
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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