Wells Fargo & Company MN raised its holdings in Potlatchdeltic Corp (NASDAQ:PCH) by 19.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 331,477 shares of the real estate investment trust’s stock after purchasing an additional 54,676 shares during the quarter. Wells Fargo & Company MN owned 0.53% of Potlatchdeltic worth $13,575,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of PCH. NumerixS Investment Technologies Inc purchased a new stake in Potlatchdeltic in the second quarter valued at $171,000. Itau Unibanco Holding S.A. purchased a new stake in Potlatchdeltic in the second quarter valued at $236,000. Marshall Wace LLP purchased a new stake in Potlatchdeltic in the second quarter valued at $289,000. Riverhead Capital Management LLC grew its stake in shares of Potlatchdeltic by 23.4% in the second quarter. Riverhead Capital Management LLC now owns 6,318 shares of the real estate investment trust’s stock valued at $321,000 after buying an additional 1,200 shares in the last quarter. Finally, Tyers Asset Management LLC grew its stake in shares of Potlatchdeltic by 23.8% in the second quarter. Tyers Asset Management LLC now owns 7,000 shares of the real estate investment trust’s stock valued at $356,000 after buying an additional 1,344 shares in the last quarter. Institutional investors own 85.40% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. BidaskClub cut Potlatchdeltic from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 1st. BMO Capital Markets dropped their price objective on Potlatchdeltic from $49.00 to $44.00 and set a “hold” rating for the company in a research note on Wednesday, October 31st. Zacks Investment Research cut Potlatchdeltic from a “hold” rating to a “sell” rating in a research note on Wednesday, October 31st. DA Davidson raised Potlatchdeltic from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $52.00 to $50.00 in a research note on Tuesday, October 30th. They noted that the move was a valuation call. Finally, ValuEngine raised Potlatchdeltic from a “strong sell” rating to a “sell” rating in a research note on Monday, October 29th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Potlatchdeltic presently has a consensus rating of “Hold” and a consensus target price of $51.00.
Shares of NASDAQ PCH opened at $35.48 on Friday. Potlatchdeltic Corp has a twelve month low of $33.09 and a twelve month high of $55.75. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $2.36 billion, a PE ratio of 13.17, a PEG ratio of 3.06 and a beta of 1.19.
Potlatchdeltic (NASDAQ:PCH) last issued its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $0.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.01). Potlatchdeltic had a net margin of 14.23% and a return on equity of 15.77%. The firm had revenue of $289.20 million during the quarter, compared to analyst estimates of $288.27 million. During the same period in the previous year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was up 51.9% compared to the same quarter last year. As a group, research analysts anticipate that Potlatchdeltic Corp will post 2.45 EPS for the current year.
Potlatchdeltic declared that its board has approved a stock buyback program on Thursday, August 30th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.51%. Potlatchdeltic’s payout ratio is presently 67.80%.
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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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