Marshall Wace LLP acquired a new position in Potlatchdeltic Corp (NASDAQ:PCH) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,681 shares of the real estate investment trust’s stock, valued at approximately $289,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Contravisory Investment Management Inc. purchased a new position in shares of Potlatchdeltic during the second quarter valued at approximately $142,000. NumerixS Investment Technologies Inc purchased a new position in shares of Potlatchdeltic during the second quarter valued at approximately $171,000. Csenge Advisory Group purchased a new position in shares of Potlatchdeltic during the first quarter valued at approximately $200,000. Mariner LLC purchased a new position in shares of Potlatchdeltic during the first quarter valued at approximately $203,000. Finally, Aristotle Atlantic Partners LLC purchased a new position in shares of Potlatchdeltic during the first quarter valued at approximately $234,000. Institutional investors and hedge funds own 83.46% of the company’s stock.
Several research firms have recently issued reports on PCH. Zacks Investment Research upgraded shares of Potlatchdeltic from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 26th. BidaskClub upgraded shares of Potlatchdeltic from a “strong sell” rating to a “sell” rating in a report on Friday, August 17th. Finally, ValuEngine lowered shares of Potlatchdeltic from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $50.83.
Potlatchdeltic (NASDAQ:PCH) last announced its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.14. The company had revenue of $268.20 million during the quarter, compared to the consensus estimate of $271.88 million. Potlatchdeltic had a net margin of 12.72% and a return on equity of 18.57%. The firm’s quarterly revenue was up 64.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. sell-side analysts predict that Potlatchdeltic Corp will post 2.94 EPS for the current year.
The company also recently declared a special dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, September 27th will be given a dividend of $3.54 per share. This represents a dividend yield of 3.31%. The ex-dividend date is Thursday, September 13th. Potlatchdeltic’s dividend payout ratio (DPR) is currently 67.80%.
Potlatchdeltic announced that its Board of Directors has authorized a stock buyback plan on Thursday, August 30th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 3.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
In related news, VP Lorrie D. Scott sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $47.06, for a total transaction of $70,590.00. Following the completion of the sale, the vice president now owns 14,586 shares of the company’s stock, valued at $686,417.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by company insiders.
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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