ETF Managers Group LLC purchased a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH – Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,132 shares of the real estate investment trust’s stock, valued at approximately $205,000.
A number of other large investors have also made changes to their positions in PCH. State of Alaska Department of Revenue boosted its holdings in PotlatchDeltic by 2.0% during the first quarter. State of Alaska Department of Revenue now owns 52,341 shares of the real estate investment trust’s stock worth $2,589,000 after buying an additional 1,005 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in PotlatchDeltic during the first quarter worth about $211,000. Signet Financial Management LLC lifted its holdings in shares of PotlatchDeltic by 4.9% in the first quarter. Signet Financial Management LLC now owns 6,059 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 283 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of PotlatchDeltic by 37.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 91,663 shares of the real estate investment trust’s stock valued at $4,537,000 after purchasing an additional 25,076 shares during the last quarter. Finally, Diversified Trust Co increased its stake in shares of PotlatchDeltic by 4.0% during the 1st quarter. Diversified Trust Co now owns 15,296 shares of the real estate investment trust’s stock worth $757,000 after purchasing an additional 585 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut PotlatchDeltic from a “hold” rating to a “sell” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.40.
PotlatchDeltic Price Performance
PotlatchDeltic (NASDAQ:PCH – Free Report) last posted its quarterly earnings results on Monday, April 24th. The real estate investment trust reported $0.23 EPS for the quarter, beating the consensus estimate of $0.12 by $0.11. The company had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $243.34 million. PotlatchDeltic had a return on equity of 8.87% and a net margin of 15.82%. The firm’s revenue was down 37.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.50 EPS. Equities research analysts expect that PotlatchDeltic Co. will post 0.9 EPS for the current year.
PotlatchDeltic Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 2nd were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.41%. The ex-dividend date was Thursday, June 1st. PotlatchDeltic’s dividend payout ratio (DPR) is 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.
Featured Stories
- Five stocks we like better than PotlatchDeltic
- MarketBeat Week in Review – 6/26 – 6/30
- Tesla: Can Downgrades Make Sense After A 170% Rally?
- Buffett’s Berkshire Increases Stake In Occidental Petroleum (OXY)
- Rally Gains Momentum On Soft PCE Data
- Bank of America, JPMorgan, Goldman Sachs Set For Dividend Growth?
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.
