Financial Engines Advisors L.L.C. lifted its stake in PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 13.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,137 shares of the real estate investment trust’s stock after buying an additional 622 shares during the period. Financial Engines Advisors L.L.C.’s holdings in PotlatchDeltic were worth $227,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. CENTRAL TRUST Co acquired a new stake in shares of PotlatchDeltic in the 1st quarter valued at $46,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in PotlatchDeltic by 50.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 900 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 300 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in PotlatchDeltic during the second quarter worth about $58,000. Parallel Advisors LLC lifted its holdings in PotlatchDeltic by 144.1% during the second quarter. Parallel Advisors LLC now owns 1,662 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 981 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in PotlatchDeltic by 73.8% during the first quarter. Van ECK Associates Corp now owns 2,106 shares of the real estate investment trust’s stock worth $111,000 after acquiring an additional 894 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.
PotlatchDeltic Stock Up 0.1 %
Shares of NASDAQ:PCH opened at $48.20 on Thursday. PotlatchDeltic Co. has a one year low of $39.10 and a one year high of $61.51. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.99 and a quick ratio of 3.59. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 9.11 and a beta of 1.14. The firm has a fifty day moving average price of $43.98 and a two-hundred day moving average price of $46.76.
PotlatchDeltic Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Tuesday, September 20th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.65%. The ex-dividend date was Monday, September 19th. PotlatchDeltic’s dividend payout ratio is presently 33.27%.
PotlatchDeltic announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 31st that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 6.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on PCH. Bank of America boosted their price target on PotlatchDeltic from $53.00 to $55.00 in a report on Thursday, October 13th. DA Davidson lowered their price target on shares of PotlatchDeltic to $57.00 in a report on Thursday, October 27th. Raymond James decreased their price target on PotlatchDeltic from $70.00 to $65.00 and set a “strong-buy” rating for the company in a report on Tuesday, August 16th. Truist Financial raised their price target on shares of PotlatchDeltic to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Finally, StockNews.com initiated coverage on shares of PotlatchDeltic in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $56.60.
Insiders Place Their Bets
In related news, CEO Eric J. Cremers sold 11,444 shares of the business’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $40.59, for a total transaction of $464,511.96. Following the sale, the chief executive officer now owns 163,151 shares of the company’s stock, valued at $6,622,299.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by insiders.
PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns 1.8 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 residential and commercial real estate development business and a rural timberland sales program.
- Get a free copy of the StockNews.com research report on PotlatchDeltic (PCH)
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