Strs Ohio boosted its holdings in PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 14.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,300 shares of the real estate investment trust’s stock after purchasing an additional 2,300 shares during the quarter. Strs Ohio’s holdings in PotlatchDeltic were worth $751,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PCH. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of PotlatchDeltic by 13.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,311 shares of the real estate investment trust’s stock valued at $1,335,000 after acquiring an additional 3,064 shares during the period. BlackRock Inc. boosted its holdings in shares of PotlatchDeltic by 3.0% in the first quarter. BlackRock Inc. now owns 8,962,038 shares of the real estate investment trust’s stock valued at $472,566,000 after acquiring an additional 258,490 shares during the period. APG Asset Management N.V. boosted its holdings in shares of PotlatchDeltic by 99.4% in the first quarter. APG Asset Management N.V. now owns 32,500 shares of the real estate investment trust’s stock valued at $1,540,000 after acquiring an additional 16,200 shares during the period. Great West Life Assurance Co. Can boosted its holdings in shares of PotlatchDeltic by 11.4% in the first quarter. Great West Life Assurance Co. Can now owns 39,159 shares of the real estate investment trust’s stock valued at $2,120,000 after acquiring an additional 4,003 shares during the period. Finally, Yousif Capital Management LLC boosted its holdings in shares of PotlatchDeltic by 7.3% in the first quarter. Yousif Capital Management LLC now owns 37,230 shares of the real estate investment trust’s stock valued at $1,963,000 after acquiring an additional 2,546 shares during the period. 80.36% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on PCH shares. Royal Bank of Canada raised PotlatchDeltic from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $55.00 in a report on Tuesday, October 18th. Bank of America increased their price target on PotlatchDeltic from $53.00 to $55.00 in a report on Thursday, October 13th. StockNews.com assumed coverage on PotlatchDeltic in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, DA Davidson decreased their price target on PotlatchDeltic to $57.00 in a report on Thursday, October 27th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PotlatchDeltic presently has a consensus rating of “Moderate Buy” and an average price target of $56.60.
PotlatchDeltic Price Performance
PotlatchDeltic (NASDAQ:PCH – Get Rating) last issued its earnings results on Monday, October 24th. The real estate investment trust reported $0.74 EPS for the quarter, topping the consensus estimate of $0.64 by $0.10. The company had revenue of $306.69 million for the quarter, compared to analyst estimates of $298.09 million. PotlatchDeltic had a net margin of 27.84% and a return on equity of 20.34%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS. Sell-side analysts forecast that PotlatchDeltic Co. will post 4.94 EPS for the current year.
PotlatchDeltic Cuts Dividend
The business also recently disclosed a special dividend, which was paid on Friday, December 30th. Investors of record on Wednesday, December 21st were issued a dividend of $0.95 per share. This represents a yield of 4%. The ex-dividend date was Tuesday, December 20th. PotlatchDeltic’s dividend payout ratio is currently 34.03%.
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)
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