Bowling Portfolio Management LLC bought a new stake in shares of Potlatchdeltic Corp (NASDAQ:PCH) in the 2nd quarter, Holdings Channel reports. The fund bought 20,774 shares of the real estate investment trust’s stock, valued at approximately $1,056,000.
A number of other hedge funds have also added to or reduced their stakes in PCH. BlackRock Inc. grew its position in shares of Potlatchdeltic by 48.3% during the first quarter. BlackRock Inc. now owns 7,516,937 shares of the real estate investment trust’s stock worth $391,258,000 after acquiring an additional 2,449,758 shares during the last quarter. Brown Advisory Inc. grew its position in shares of Potlatchdeltic by 7,729.7% during the first quarter. Brown Advisory Inc. now owns 768,409 shares of the real estate investment trust’s stock worth $39,995,000 after acquiring an additional 758,595 shares during the last quarter. Millennium Management LLC grew its position in shares of Potlatchdeltic by 50.6% during the first quarter. Millennium Management LLC now owns 1,357,937 shares of the real estate investment trust’s stock worth $70,681,000 after acquiring an additional 456,375 shares during the last quarter. Capital Growth Management LP bought a new position in shares of Potlatchdeltic during the first quarter worth about $20,039,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Potlatchdeltic during the first quarter worth about $18,183,000. Hedge funds and other institutional investors own 82.54% of the company’s stock.
Several equities analysts have recently commented on the stock. DA Davidson upgraded shares of Potlatchdeltic from an “underperform” rating to a “neutral” rating and set a $44.00 price target for the company in a research report on Monday, May 7th. BidaskClub lowered shares of Potlatchdeltic from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Zacks Investment Research upgraded shares of Potlatchdeltic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 26th. Vertical Research upgraded shares of Potlatchdeltic to a “hold” rating in a research report on Monday, May 7th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Potlatchdeltic from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Potlatchdeltic currently has a consensus rating of “Hold” and a consensus price target of $50.83.
PCH stock opened at $46.65 on Friday. The stock has a market capitalization of $2.86 billion, a P/E ratio of 19.77, a P/E/G ratio of 3.27 and a beta of 1.17. Potlatchdeltic Corp has a fifty-two week low of $43.85 and a fifty-two week high of $56.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.21 and a quick ratio of 2.40.
Potlatchdeltic (NASDAQ:PCH) last posted its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.14. The business 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 company’s quarterly revenue was up 64.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. analysts anticipate that Potlatchdeltic Corp will post 2.79 EPS for the current fiscal year.
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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