JPMorgan Chase & Co. grew its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 23.9% during the fourth quarter, HoldingsChannel reports. The firm owned 666,153 shares of the real estate investment trust’s stock after buying an additional 128,573 shares during the period. JPMorgan Chase & Co.’s holdings in PotlatchDeltic were worth $29,305,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of PotlatchDeltic by 14.5% during the 3rd quarter. Vanguard Group Inc. now owns 11,820,414 shares of the real estate investment trust’s stock valued at $485,110,000 after acquiring an additional 1,497,553 shares in the last quarter. Pictet Asset Management SA raised its stake in PotlatchDeltic by 27.9% in the 3rd quarter. Pictet Asset Management SA now owns 3,815,246 shares of the real estate investment trust’s stock valued at $156,578,000 after acquiring an additional 831,888 shares during the period. BlackRock Inc. raised its stake in PotlatchDeltic by 5.9% in the third quarter. BlackRock Inc. now owns 10,044,830 shares of the real estate investment trust’s stock valued at $412,238,000 after purchasing an additional 558,321 shares in the last quarter. State Street Corp raised its stake in shares of PotlatchDeltic by 19.3% during the third quarter. State Street Corp now owns 2,607,726 shares of the real estate investment trust’s stock valued at $107,021,000 after acquiring an additional 421,565 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in PotlatchDeltic by 153.5% in the third quarter. Renaissance Technologies LLC now owns 616,299 shares of the real estate investment trust’s stock valued at $25,293,000 after acquiring an additional 373,151 shares during the period. Institutional investors and hedge funds own 80.36% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on PCH shares. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Citigroup began coverage on shares of PotlatchDeltic in a research report on Wednesday, March 1st. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $55.40.
PotlatchDeltic Price Performance
PotlatchDeltic (NASDAQ:PCH – Get Rating) last issued its quarterly earnings data on Monday, April 24th. The real estate investment trust reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.11. PotlatchDeltic had a return on equity of 8.87% and a net margin of 15.82%. The business had revenue of $258.00 million for the quarter, compared to analysts’ expectations of $243.34 million. During the same period last year, the business earned $2.50 EPS. The business’s revenue was down 37.3% on a year-over-year basis. Analysts anticipate that PotlatchDeltic Co. will post 0.93 earnings per share for the current fiscal year.
PotlatchDeltic Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 2nd will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, June 1st. This represents a $1.80 annualized dividend and a dividend yield of 3.75%. PotlatchDeltic’s dividend payout ratio (DPR) is presently 68.97%.
About PotlatchDeltic
PotlatchDeltic (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. 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.
See Also
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