Rhumbline Advisers increased its holdings in Potlatchdeltic Corp (NASDAQ:PCH) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 251,992 shares of the real estate investment trust’s stock after acquiring an additional 8,412 shares during the quarter. Rhumbline Advisers’ holdings in Potlatchdeltic were worth $7,910,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Stelac Advisory Services LLC increased its stake in Potlatchdeltic by 27.5% in the 1st quarter. Stelac Advisory Services LLC now owns 4,541 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 980 shares during the period. Aperio Group LLC increased its stake in Potlatchdeltic by 3.0% in the 1st quarter. Aperio Group LLC now owns 19,609 shares of the real estate investment trust’s stock valued at $616,000 after buying an additional 577 shares during the period. Natixis Advisors L.P. increased its stake in Potlatchdeltic by 15.2% in the 1st quarter. Natixis Advisors L.P. now owns 142,197 shares of the real estate investment trust’s stock valued at $4,464,000 after buying an additional 18,754 shares during the period. SG Americas Securities LLC increased its stake in Potlatchdeltic by 58.1% in the 1st quarter. SG Americas Securities LLC now owns 33,502 shares of the real estate investment trust’s stock valued at $1,052,000 after buying an additional 12,310 shares during the period. Finally, Comerica Bank increased its stake in Potlatchdeltic by 24.9% in the 1st quarter. Comerica Bank now owns 281,817 shares of the real estate investment trust’s stock valued at $9,058,000 after buying an additional 56,211 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.
In other Potlatchdeltic news, Director Larry Peiros acquired 6,500 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were acquired at an average cost of $33.00 per share, for a total transaction of $214,500.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.00% of the stock is owned by insiders.
Shares of NASDAQ PCH opened at $33.71 on Friday. The firm has a market capitalization of $2.25 billion, a P/E ratio of 71.72 and a beta of 1.35. Potlatchdeltic Corp has a one year low of $22.40 and a one year high of $45.42. The company’s fifty day moving average is $31.76 and its two-hundred day moving average is $38.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.53.
Potlatchdeltic (NASDAQ:PCH) last issued its earnings results on Monday, April 27th. The real estate investment trust reported $0.22 EPS for the quarter, topping the consensus estimate of $0.13 by $0.09. Potlatchdeltic had a net margin of 3.78% and a return on equity of 5.28%. The company had revenue of $208.90 million for the quarter, compared to analyst estimates of $195.91 million. During the same period in the previous year, the firm earned $0.08 EPS. The business’s revenue was up 15.0% on a year-over-year basis. On average, sell-side analysts forecast that Potlatchdeltic Corp will post 0.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a $0.40 dividend. The ex-dividend date is Thursday, June 4th. This represents a $1.60 annualized dividend and a dividend yield of 4.75%. Potlatchdeltic’s dividend payout ratio is presently 200.00%.
Several equities analysts have issued reports on PCH shares. Zacks Investment Research raised shares of Potlatchdeltic from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Royal Bank of Canada reissued a “hold” rating and issued a $30.00 price objective on shares of Potlatchdeltic in a research note on Thursday, April 16th. DA Davidson decreased their target price on shares of Potlatchdeltic from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Raymond James boosted their target price on shares of Potlatchdeltic from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Finally, BidaskClub lowered shares of Potlatchdeltic from a “buy” rating to a “hold” rating in a research report on Thursday, May 14th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $41.80.
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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