Tocqueville Asset Management L.P. decreased its position in shares of Potlatchdeltic Corp (NASDAQ:PCH) by 1.3% during the third quarter, HoldingsChannel.com reports. The firm owned 154,861 shares of the real estate investment trust’s stock after selling 2,000 shares during the period. Tocqueville Asset Management L.P.’s holdings in Potlatchdeltic were worth $6,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC lifted its position in shares of Potlatchdeltic by 10.9% during the 3rd quarter. Renaissance Technologies LLC now owns 2,601,731 shares of the real estate investment trust’s stock valued at $106,541,000 after buying an additional 255,411 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of Potlatchdeltic by 4.0% during the 3rd quarter. Citadel Advisors LLC now owns 182,040 shares of the real estate investment trust’s stock valued at $7,455,000 after buying an additional 6,955 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Potlatchdeltic by 3.9% during the 3rd quarter. Mutual of America Capital Management LLC now owns 53,779 shares of the real estate investment trust’s stock valued at $2,202,000 after buying an additional 2,003 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Potlatchdeltic by 648.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,842 shares of the real estate investment trust’s stock valued at $239,000 after buying an additional 5,061 shares in the last quarter. Finally, Eaton Vance Management lifted its position in shares of Potlatchdeltic by 27.0% during the 3rd quarter. Eaton Vance Management now owns 141,420 shares of the real estate investment trust’s stock valued at $5,791,000 after buying an additional 30,057 shares in the last quarter. 85.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of PCH stock opened at $35.48 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.63 and a current ratio of 0.87. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 3.06 and a beta of 1.19. Potlatchdeltic Corp has a fifty-two week low of $33.09 and a fifty-two week high of $55.75.
Potlatchdeltic (NASDAQ:PCH) last announced its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). The firm had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $288.27 million. Potlatchdeltic had a net margin of 14.23% and a return on equity of 15.77%. The company’s revenue for the quarter was up 51.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 EPS. Sell-side analysts expect that Potlatchdeltic Corp will post 2.45 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, December 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.51%. Potlatchdeltic’s payout ratio is currently 67.80%.
Potlatchdeltic declared that its Board of Directors has authorized a share repurchase plan on Thursday, August 30th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of research analysts have recently issued reports on the company. BidaskClub upgraded Potlatchdeltic from a “strong sell” rating to a “sell” rating in a research report on Friday, August 17th. ValuEngine lowered Potlatchdeltic from a “sell” rating to a “strong sell” rating in a research report on Friday, September 28th. BMO Capital Markets decreased their target price on Potlatchdeltic from $49.00 to $44.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. DA Davidson upgraded Potlatchdeltic from a “neutral” rating to a “buy” rating and decreased their target price for the company from $52.00 to $50.00 in a research report on Tuesday, October 30th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Potlatchdeltic from a “hold” rating to a “sell” rating in a research report on Wednesday, October 31st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $51.00.
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Potlatchdeltic Company Profile
PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 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 medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland sales program.
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