JPMorgan Chase & Co. boosted its position in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 22.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 900,447 shares of the real estate investment trust's stock after acquiring an additional 163,774 shares during the quarter. JPMorgan Chase & Co. owned 1.14% of PotlatchDeltic worth $40,565,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently made changes to their positions in PCH. Adelante Capital Management LLC increased its holdings in PotlatchDeltic by 3,486.3% in the 3rd quarter. Adelante Capital Management LLC now owns 1,147,262 shares of the real estate investment trust's stock worth $51,684,000 after buying an additional 1,115,272 shares in the last quarter. Deprince Race & Zollo Inc. boosted its holdings in PotlatchDeltic by 33.0% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,227,361 shares of the real estate investment trust's stock valued at $48,346,000 after acquiring an additional 304,352 shares during the period. Heitman Real Estate Securities LLC purchased a new position in shares of PotlatchDeltic during the third quarter worth approximately $8,153,000. Ceredex Value Advisors LLC purchased a new stake in shares of PotlatchDeltic in the 3rd quarter worth $7,884,000. Finally, NFJ Investment Group LLC purchased a new position in PotlatchDeltic during the 3rd quarter valued at about $5,878,000. 86.06% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on PCH. Bank of America upgraded shares of PotlatchDeltic from a "neutral" rating to a "buy" rating and set a $51.00 price target on the stock in a report on Thursday, September 12th. Raymond James raised shares of PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $45.00 target price for the company in a report on Monday, December 23rd. Royal Bank of Canada reissued an "outperform" rating and set a $50.00 price target on shares of PotlatchDeltic in a report on Wednesday, October 30th. StockNews.com raised PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Finally, Truist Financial lowered their price target on PotlatchDeltic from $45.00 to $44.00 and set a "hold" rating on the stock in a research note on Monday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.20.
Get Our Latest Analysis on PCH
PotlatchDeltic Trading Up 1.5 %
Shares of PotlatchDeltic stock traded up $0.61 during trading hours on Monday, reaching $40.11. 575,104 shares of the company's stock were exchanged, compared to its average volume of 425,035. PotlatchDeltic Co. has a 52-week low of $37.06 and a 52-week high of $49.32. The company has a fifty day moving average of $41.84 and a 200-day moving average of $42.13. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 191.00 and a beta of 1.16.
PotlatchDeltic (NASDAQ:PCH - Get Free Report) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.08. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The business had revenue of $255.10 million for the quarter, compared to analyst estimates of $241.35 million. During the same quarter in the prior year, the business posted $0.14 EPS. The company's revenue for the quarter was down 3.9% on a year-over-year basis. Sell-side analysts forecast that PotlatchDeltic Co. will post 0.15 EPS for the current fiscal year.
PotlatchDeltic Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.80 annualized dividend and a yield of 4.49%. PotlatchDeltic's dividend payout ratio (DPR) is 857.14%.
PotlatchDeltic Company Profile
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Free Report)
PotlatchDeltic Corporation Nasdaq: PCH is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.
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