Nuveen Asset Management LLC bought a new position in Potlatchdeltic Corp (NASDAQ:PCH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 307,474 shares of the real estate investment trust’s stock, valued at approximately $11,986,000. Nuveen Asset Management LLC owned about 0.46% of Potlatchdeltic as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of PCH. Vanguard Group Inc. lifted its holdings in Potlatchdeltic by 6.5% in the second quarter. Vanguard Group Inc. now owns 9,884,744 shares of the real estate investment trust’s stock worth $385,307,000 after acquiring an additional 607,428 shares during the last quarter. FMR LLC lifted its holdings in Potlatchdeltic by 24.4% in the first quarter. FMR LLC now owns 1,865,726 shares of the real estate investment trust’s stock worth $70,505,000 after acquiring an additional 366,327 shares during the last quarter. Clearbridge Investments LLC bought a new position in Potlatchdeltic in the first quarter worth about $13,705,000. Bank of New York Mellon Corp lifted its holdings in Potlatchdeltic by 32.6% in the second quarter. Bank of New York Mellon Corp now owns 1,252,681 shares of the real estate investment trust’s stock worth $48,831,000 after acquiring an additional 308,142 shares during the last quarter. Finally, Intrepid Capital Management Inc. bought a new position in Potlatchdeltic in the first quarter worth about $6,309,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:PCH opened at $40.56 on Friday. The firm’s 50 day moving average is $39.91 and its two-hundred day moving average is $38.26. Potlatchdeltic Corp has a 52 week low of $28.07 and a 52 week high of $42.76. The firm has a market capitalization of $2.69 billion, a P/E ratio of 32.26, a PEG ratio of 9.82 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.14 and a debt-to-equity ratio of 0.57.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, September 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.94%. Potlatchdeltic’s dividend payout ratio is presently 70.18%.
PCH has been the topic of several analyst reports. ValuEngine lowered shares of Potlatchdeltic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. BidaskClub upgraded shares of Potlatchdeltic from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 4th. Royal Bank of Canada lowered shares of Potlatchdeltic from an “outperform” rating to a “sector perform” rating and set a $42.00 price target on the stock. in a research note on Wednesday, July 31st. Finally, Zacks Investment Research upgraded shares of Potlatchdeltic from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Potlatchdeltic presently has a consensus rating of “Buy” and an average target price of $43.27.
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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