Charles Schwab Investment Management Inc. lifted its position in shares of Potlatchdeltic Corp (NASDAQ:PCH) by 53.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 813,141 shares of the real estate investment trust’s stock after purchasing an additional 282,154 shares during the period. Charles Schwab Investment Management Inc. owned 1.22% of Potlatchdeltic worth $30,924,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PCH. Oppenheimer Asset Management Inc. increased its stake in shares of Potlatchdeltic by 16.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 11,073 shares of the real estate investment trust’s stock worth $348,000 after purchasing an additional 1,571 shares during the period. Swiss National Bank increased its stake in shares of Potlatchdeltic by 1.3% during the first quarter. Swiss National Bank now owns 130,422 shares of the real estate investment trust’s stock worth $4,094,000 after purchasing an additional 1,700 shares during the period. Mutual of America Capital Management LLC increased its stake in shares of Potlatchdeltic by 4.0% during the first quarter. Mutual of America Capital Management LLC now owns 62,572 shares of the real estate investment trust’s stock worth $1,964,000 after purchasing an additional 2,423 shares during the period. State Street Corp increased its stake in shares of Potlatchdeltic by 3.3% during the first quarter. State Street Corp now owns 2,129,257 shares of the real estate investment trust’s stock worth $66,837,000 after purchasing an additional 67,919 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Potlatchdeltic by 135.8% during the first quarter. JPMorgan Chase & Co. now owns 283,647 shares of the real estate investment trust’s stock worth $8,904,000 after buying an additional 163,378 shares in the last quarter. Institutional investors own 85.32% of the company’s stock.
NASDAQ PCH opened at $38.73 on Friday. The company has a 50-day simple moving average of $44.27 and a two-hundred day simple moving average of $37.29. The company has a quick ratio of 0.99, a current ratio of 1.40 and a debt-to-equity ratio of 0.63. Potlatchdeltic Corp has a 12-month low of $22.40 and a 12-month high of $48.13. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 148.97 and a beta of 1.37.
Potlatchdeltic (NASDAQ:PCH) last issued its quarterly earnings data on Monday, July 27th. The real estate investment trust reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. Potlatchdeltic had a net margin of 2.17% and a return on equity of 4.19%. The firm had revenue of $181.56 million during the quarter, compared to the consensus estimate of $173.89 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was down 15.8% compared to the same quarter last year. Equities analysts expect that Potlatchdeltic Corp will post 2.35 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Monday, September 14th. Potlatchdeltic’s payout ratio is 200.00%.
A number of equities research analysts recently issued reports on the company. Royal Bank of Canada raised Potlatchdeltic from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $40.00 to $45.00 in a research report on Friday, July 10th. BidaskClub downgraded Potlatchdeltic from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Zacks Investment Research raised Potlatchdeltic from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Tuesday, June 2nd. Raymond James increased their price target on Potlatchdeltic from $38.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, BofA Securities downgraded Potlatchdeltic from a “buy” rating to a “neutral” rating in a report on Friday, September 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $44.80.
Potlatchdeltic 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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