Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Potlatchdeltic Corp (NASDAQ:PCH) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 26,800 shares of the real estate investment trust’s stock, valued at approximately $1,097,000.

A number of other hedge funds have also modified their holdings of the business. Los Angeles Capital Management & Equity Research Inc. boosted its position in Potlatchdeltic by 13.5% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 117,671 shares of the real estate investment trust’s stock worth $4,819,000 after purchasing an additional 14,015 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Potlatchdeltic by 19.8% in the third quarter. Wells Fargo & Company MN now owns 331,477 shares of the real estate investment trust’s stock valued at $13,575,000 after acquiring an additional 54,676 shares in the last quarter. Chicago Equity Partners LLC purchased a new position in shares of Potlatchdeltic in the third quarter valued at approximately $1,276,000. Foster & Motley Inc. lifted its position in shares of Potlatchdeltic by 6.7% in the third quarter. Foster & Motley Inc. now owns 62,282 shares of the real estate investment trust’s stock valued at $2,550,000 after acquiring an additional 3,903 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT lifted its position in shares of Potlatchdeltic by 33.7% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 51,578 shares of the real estate investment trust’s stock valued at $2,112,000 after acquiring an additional 13,012 shares in the last quarter. Institutional investors own 83.94% of the company’s stock.

NASDAQ:PCH opened at $37.01 on Tuesday. Potlatchdeltic Corp has a one year low of $33.09 and a one year high of $55.75. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $2.29 billion, a P/E ratio of 15.68, a P/E/G ratio of 2.97 and a beta of 1.16.

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 consensus estimate of $0.88 by ($0.01). Potlatchdeltic had a net margin of 14.23% and a return on equity of 15.77%. The company had revenue of $289.20 million during the quarter, compared to analyst estimates of $288.27 million. During the same period in the prior year, the business posted $0.82 EPS. Potlatchdeltic’s revenue for the quarter was up 51.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Potlatchdeltic Corp will post 2.45 earnings per share for the current year.

The business also recently declared a special dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, September 27th were issued a $3.54 dividend. The ex-dividend date was Thursday, September 13th. This represents a dividend yield of 3.31%. Potlatchdeltic’s dividend payout ratio is presently 67.80%.

Potlatchdeltic announced that its board has approved a stock repurchase plan on Thursday, August 30th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Several equities analysts have recently weighed in on the company. ValuEngine upgraded Potlatchdeltic from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. BidaskClub downgraded Potlatchdeltic from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Zacks Investment Research downgraded Potlatchdeltic from a “strong-buy” rating to a “hold” rating in a research report on Saturday, October 6th. BMO Capital Markets decreased 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. Finally, DA Davidson raised Potlatchdeltic from a “neutral” rating to a “buy” rating and cut their price target for the company from $52.00 to $50.00 in a report on Tuesday, October 30th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $51.00.

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Potlatchdeltic 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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Institutional Ownership by Quarter for Potlatchdeltic (NASDAQ:PCH)

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