Ancora Advisors LLC trimmed its holdings in Potlatchdeltic Corp (NASDAQ:PCH) by 32.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,399 shares of the real estate investment trust’s stock after selling 2,568 shares during the quarter. Ancora Advisors LLC’s holdings in Potlatchdeltic were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in PCH. BlackRock Inc. lifted its stake in shares of Potlatchdeltic by 8.5% in the 3rd quarter. BlackRock Inc. now owns 8,537,689 shares of the real estate investment trust’s stock valued at $349,616,000 after purchasing an additional 666,586 shares during the period. Northern Trust Corp increased its position in Potlatchdeltic by 36.9% in the 2nd quarter. Northern Trust Corp now owns 1,288,325 shares of the real estate investment trust’s stock valued at $65,511,000 after buying an additional 346,939 shares in the last quarter. Rothschild Asset Management Inc. increased its position in Potlatchdeltic by 180.1% in the 2nd quarter. Rothschild Asset Management Inc. now owns 536,113 shares of the real estate investment trust’s stock valued at $27,261,000 after buying an additional 344,698 shares in the last quarter. Standard Life Aberdeen plc bought a new stake in Potlatchdeltic in the 3rd quarter valued at about $13,125,000. Finally, Pictet Asset Management Ltd. increased its position in Potlatchdeltic by 11.1% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,363,557 shares of the real estate investment trust’s stock valued at $96,788,000 after buying an additional 237,010 shares in the last quarter. 85.40% of the stock is currently owned by institutional investors.
Shares of Potlatchdeltic stock opened at $37.54 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.63. The stock has a market capitalization of $2.23 billion, a P/E ratio of 15.91, a PEG ratio of 2.91 and a beta of 1.19. Potlatchdeltic Corp has a one year low of $33.09 and a one year high of $55.75.
Potlatchdeltic (NASDAQ:PCH) last issued its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). The company had revenue of $289.20 million for the quarter, compared to the consensus estimate of $288.27 million. Potlatchdeltic had a return on equity of 15.77% and a net margin of 14.23%. The business’s revenue for the quarter was up 51.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 earnings per share. Analysts expect that Potlatchdeltic Corp will post 2.45 EPS for the current fiscal year.
Potlatchdeltic announced that its Board of Directors has approved a share repurchase program on Thursday, August 30th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
A number of brokerages recently commented on PCH. 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 decreased their target price on Potlatchdeltic from $49.00 to $44.00 and set a “hold” rating for the company 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 decreased their target price for the company from $52.00 to $50.00 in a research 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 given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $51.00.
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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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