Swiss National Bank lifted its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 2.6% during the second quarter, Holdings Channel.com reports. The firm owned 162,722 shares of the real estate investment trust’s stock after buying an additional 4,100 shares during the period. Swiss National Bank’s holdings in PotlatchDeltic were worth $7,191,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of PCH. Private Advisor Group LLC acquired a new position in PotlatchDeltic in the second quarter valued at approximately $792,000. Texas Permanent School Fund lifted its holdings in PotlatchDeltic by 2.4% in the second quarter. Texas Permanent School Fund now owns 50,141 shares of the real estate investment trust’s stock valued at $2,216,000 after buying an additional 1,178 shares during the period. Liberty Mutual Group Asset Management Inc. acquired a new position in PotlatchDeltic in the first quarter valued at approximately $3,770,000. Arnhold LLC lifted its holdings in PotlatchDeltic by 27.4% in the first quarter. Arnhold LLC now owns 29,723 shares of the real estate investment trust’s stock valued at $1,567,000 after buying an additional 6,401 shares during the period. Finally, State of Michigan Retirement System lifted its holdings in PotlatchDeltic by 3.2% in the first quarter. State of Michigan Retirement System now owns 17,531 shares of the real estate investment trust’s stock valued at $924,000 after buying an additional 538 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at PotlatchDeltic
In other news, CEO Eric J. Cremers sold 11,444 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $40.59, for a total transaction of $464,511.96. Following the completion of the sale, the chief executive officer now owns 163,151 shares in the company, valued at approximately $6,622,299.09. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
PotlatchDeltic Stock Performance
Shares of PCH stock opened at $48.17 on Wednesday. The stock has a market cap of $3.89 billion, a P/E ratio of 9.11 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. The company has a fifty day moving average price of $43.91 and a two-hundred day moving average price of $46.75. PotlatchDeltic Co. has a one year low of $39.10 and a one year high of $61.51.
PotlatchDeltic (NASDAQ:PCH – Get Rating) last posted its earnings results on Monday, October 24th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. The company had revenue of $306.69 million during the quarter, compared to analysts’ expectations of $298.09 million. PotlatchDeltic had a net margin of 27.84% and a return on equity of 20.34%. PotlatchDeltic’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 EPS. As a group, equities analysts predict that PotlatchDeltic Co. will post 4.99 EPS for the current year.
PotlatchDeltic declared that its board has approved a share 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 repurchase up to 6.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
PotlatchDeltic Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Tuesday, September 20th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Monday, September 19th. PotlatchDeltic’s dividend payout ratio is presently 33.27%.
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.
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