Principal Financial Group Inc. raised its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 4.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 307,153 shares of the real estate investment trust’s stock after purchasing an additional 14,285 shares during the quarter. Principal Financial Group Inc.’s holdings in PotlatchDeltic were worth $13,573,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in PCH. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of PotlatchDeltic by 50.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 900 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 300 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of PotlatchDeltic in the 2nd quarter valued at $58,000. Parallel Advisors LLC increased its position in shares of PotlatchDeltic by 144.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,662 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 981 shares in the last quarter. Van ECK Associates Corp increased its position in shares of PotlatchDeltic by 73.8% in the 1st quarter. Van ECK Associates Corp now owns 2,106 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 894 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of PotlatchDeltic by 49.6% in the 2nd quarter. Asset Management One Co. Ltd. now owns 2,553 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 846 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.
Insider Transactions at PotlatchDeltic
In other news, CEO Eric J. Cremers sold 11,444 shares of the 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 transaction, the chief executive officer now directly owns 163,151 shares in the company, valued at approximately $6,622,299.09. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.00% of the company’s stock.
Wall Street Analysts Forecast Growth
PotlatchDeltic Price Performance
Shares of NASDAQ PCH opened at $48.20 on Friday. The firm has a market cap of $3.89 billion, a PE ratio of 9.11 and a beta of 1.14. The company has a current ratio of 3.99, a quick ratio of 3.59 and a debt-to-equity ratio of 0.41. PotlatchDeltic Co. has a 1-year low of $39.10 and a 1-year high of $61.51. The company has a fifty day moving average price of $44.06 and a 200 day moving average price of $46.77.
PotlatchDeltic (NASDAQ:PCH – Get Rating) last posted its quarterly earnings data on Monday, October 24th. The real estate investment trust reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. PotlatchDeltic had a net margin of 27.84% and a return on equity of 20.34%. The company had revenue of $306.69 million during the quarter, compared to the consensus estimate of $298.09 million. During the same period in the prior year, the business posted $0.92 EPS. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Research analysts predict that PotlatchDeltic Co. will post 4.99 earnings per share for the current fiscal year.
PotlatchDeltic announced that its Board of Directors has initiated a stock buyback plan on Wednesday, August 31st that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the real estate investment trust to purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
PotlatchDeltic Dividend Announcement
The firm also recently disclosed 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. The ex-dividend date was Monday, September 19th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.65%. PotlatchDeltic’s dividend payout ratio is 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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