Tocqueville Asset Management L.P. cut its stake in Potlatchdeltic Corp (NASDAQ:PCH) by 8.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 141,418 shares of the real estate investment trust’s stock after selling 13,531 shares during the period. Tocqueville Asset Management L.P. owned about 0.21% of Potlatchdeltic worth $5,512,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in PCH. FMR LLC grew its position in Potlatchdeltic by 199.1% in the fourth quarter. FMR LLC now owns 1,499,399 shares of the real estate investment trust’s stock worth $47,440,000 after acquiring an additional 998,147 shares in the last quarter. Norges Bank bought a new stake in Potlatchdeltic in the fourth quarter worth $19,321,000. Clearbridge Investments LLC bought a new stake in Potlatchdeltic in the first quarter worth $13,705,000. JPMorgan Chase & Co. lifted its stake in Potlatchdeltic by 112.5% in the first quarter. JPMorgan Chase & Co. now owns 685,087 shares of the real estate investment trust’s stock worth $25,890,000 after purchasing an additional 362,625 shares during the last quarter. Finally, Intrepid Capital Management Inc. bought a new stake in Potlatchdeltic in the first quarter worth $6,309,000. Institutional investors own 87.63% of the company’s stock.
Several analysts have weighed in on the stock. BidaskClub downgraded shares of Potlatchdeltic from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. Royal Bank of Canada downgraded shares of Potlatchdeltic from an “outperform” rating to a “sector perform” rating and set a $42.00 price target for the company. in a research note on Wednesday, July 31st. ValuEngine downgraded shares of Potlatchdeltic from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research raised shares of Potlatchdeltic from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Potlatchdeltic currently has a consensus rating of “Hold” and an average target price of $43.27.
Potlatchdeltic (NASDAQ:PCH) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.06. The business had revenue of $215.60 million during the quarter, compared to the consensus estimate of $210.17 million. Potlatchdeltic had a net margin of 9.50% and a return on equity of 6.46%. The firm’s revenue for the quarter was down 19.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share. Equities analysts forecast that Potlatchdeltic Corp will post 0.87 earnings per share for the current year.
In other news, Director John S. Moody sold 1,781 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $33.68, for a total transaction of $59,984.08. Following the completion of the transaction, the director now directly owns 2,617 shares of the company’s stock, valued at $88,140.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.
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.
Featured Article: What is a Special Dividend?
Want to see what other hedge funds are holding PCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Potlatchdeltic Corp (NASDAQ:PCH).
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.