Robeco Institutional Asset Management B.V. cut its stake in Potlatchdeltic Corp (NASDAQ:PCH) by 19.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 65,761 shares of the real estate investment trust’s stock after selling 15,949 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Potlatchdeltic were worth $2,926,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Bridgewater Associates LP purchased a new position in Potlatchdeltic in the second quarter valued at about $438,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Potlatchdeltic during the second quarter worth about $171,000. Oregon Public Employees Retirement Fund increased its position in shares of Potlatchdeltic by 52.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 23,336 shares of the real estate investment trust’s stock worth $1,187,000 after acquiring an additional 8,052 shares during the last quarter. BlackRock Inc. increased its position in shares of Potlatchdeltic by 4.7% during the second quarter. BlackRock Inc. now owns 7,871,103 shares of the real estate investment trust’s stock worth $400,243,000 after acquiring an additional 354,166 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Potlatchdeltic by 8.4% during the second quarter. First Trust Advisors LP now owns 29,983 shares of the real estate investment trust’s stock worth $1,525,000 after acquiring an additional 2,322 shares during the last quarter. 83.94% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on the company. Zacks Investment Research lowered Potlatchdeltic from a “strong-buy” rating to a “hold” rating in a research report on Saturday, October 6th. ValuEngine raised Potlatchdeltic from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. BMO Capital Markets dropped their target price on Potlatchdeltic from $49.00 to $44.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. BidaskClub raised Potlatchdeltic from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 15th. Finally, DA Davidson raised Potlatchdeltic from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $52.00 to $50.00 in a research report on Tuesday, October 30th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Potlatchdeltic presently has a consensus rating of “Hold” and an average price target of $51.00.
Potlatchdeltic (NASDAQ:PCH) last posted its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $0.87 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.01). The firm had revenue of $289.20 million during the quarter, compared to analyst estimates of $288.27 million. Potlatchdeltic had a return on equity of 15.77% and a net margin of 14.23%. The firm’s revenue for the quarter was up 51.9% on a year-over-year basis. During the same quarter last year, the business posted $0.82 earnings per share. Equities research analysts anticipate that Potlatchdeltic Corp will post 2.45 earnings per share for the current year.
The company also recently declared a special dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, September 27th were paid a $3.54 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a yield of 3.31%. Potlatchdeltic’s dividend payout ratio (DPR) is 67.80%.
Potlatchdeltic declared that its board has approved a share buyback program on Thursday, August 30th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
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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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