Envestnet Asset Management Inc. boosted its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 1.8% in the second quarter, Holdings Channel reports. The firm owned 35,590 shares of the real estate investment trust’s stock after acquiring an additional 630 shares during the period. Envestnet Asset Management Inc.’s holdings in PotlatchDeltic were worth $1,573,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in PCH. Vanguard Group Inc. lifted its holdings in shares of PotlatchDeltic by 3.1% during the first quarter. Vanguard Group Inc. now owns 10,503,075 shares of the real estate investment trust’s stock worth $553,827,000 after buying an additional 319,445 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of PotlatchDeltic by 3.0% during the first quarter. BlackRock Inc. now owns 8,962,038 shares of the real estate investment trust’s stock worth $472,566,000 after buying an additional 258,490 shares during the last quarter. State Street Corp lifted its holdings in shares of PotlatchDeltic by 4.9% during the first quarter. State Street Corp now owns 2,155,137 shares of the real estate investment trust’s stock worth $113,640,000 after buying an additional 99,983 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of PotlatchDeltic by 6.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 994,774 shares of the real estate investment trust’s stock worth $52,455,000 after buying an additional 56,939 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of PotlatchDeltic by 6.1% during the first quarter. Westwood Holdings Group Inc. now owns 594,702 shares of the real estate investment trust’s stock worth $31,359,000 after buying an additional 34,346 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently commented on PCH shares. DA Davidson cut their target price on PotlatchDeltic to $57.00 in a research note on Thursday, October 27th. Truist Financial upped their target price on PotlatchDeltic to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Royal Bank of Canada upgraded PotlatchDeltic from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $50.00 to $55.00 in a research note on Tuesday, October 18th. Raymond James cut their target price on PotlatchDeltic from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research note on Tuesday, August 16th. Finally, Bank of America upped their target price on PotlatchDeltic from $53.00 to $55.00 in a research note on Thursday, October 13th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, PotlatchDeltic currently has a consensus rating of “Moderate Buy” and an average price target of $56.60.
Insider Transactions at PotlatchDeltic
PotlatchDeltic Stock Performance
Shares of NASDAQ:PCH opened at $47.15 on Monday. The business’s fifty day moving average price is $43.89 and its two-hundred day moving average price is $46.86. PotlatchDeltic Co. has a fifty-two week low of $39.10 and a fifty-two week high of $61.51. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 8.91 and a beta of 1.14. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.99 and a quick ratio of 3.59.
PotlatchDeltic (NASDAQ:PCH – Get Rating) last announced its quarterly earnings results on Monday, October 24th. The real estate investment trust reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. PotlatchDeltic had a return on equity of 20.34% and a net margin of 27.84%. The firm had revenue of $306.69 million for the quarter, compared to analysts’ expectations of $298.09 million. During the same period in the prior year, the business posted $0.92 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. As a group, analysts predict that PotlatchDeltic Co. will post 4.99 EPS for the current fiscal year.
PotlatchDeltic Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Tuesday, September 20th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend was Monday, September 19th. PotlatchDeltic’s payout ratio is presently 33.27%.
PotlatchDeltic announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 31st that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to buy up to 6.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
PotlatchDeltic Company Profile
PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns 1.8 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 residential and commercial real estate development business and a rural timberland sales program.
- Get a free copy of the StockNews.com research report on PotlatchDeltic (PCH)
- Is GameStop Stock Setting Up for Another Short Squeeze?
- Here’s Why SoFi Technologies Stock is Cheap at These Levels
- Warren Buffet Bought Taiwan Semiconductor Stock, Should You?
- MarketBeat: Week in Review 11/14 – 11/18
- Target’s Double Bottom Might Have Just Been Confirmed
Receive News & Ratings for PotlatchDeltic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PotlatchDeltic and related companies with MarketBeat.com's FREE daily email newsletter.