Potlatchdeltic Corp (PCH) Shares Bought by Eaton Vance Management

Eaton Vance Management lifted its stake in Potlatchdeltic Corp (NASDAQ:PCH) by 27.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 141,420 shares of the real estate investment trust’s stock after purchasing an additional 30,057 shares during the quarter. Eaton Vance Management owned about 0.23% of Potlatchdeltic worth $5,791,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in Potlatchdeltic by 8.5% during the 3rd quarter. BlackRock Inc. now owns 8,537,689 shares of the real estate investment trust’s stock worth $349,616,000 after buying an additional 666,586 shares during the last quarter. Pictet Asset Management Ltd. raised its position in Potlatchdeltic by 11.1% during the 3rd quarter. Pictet Asset Management Ltd. now owns 2,363,557 shares of the real estate investment trust’s stock worth $96,788,000 after buying an additional 237,010 shares during the last quarter. Northern Trust Corp raised its position in Potlatchdeltic by 36.9% during the 2nd quarter. Northern Trust Corp now owns 1,288,325 shares of the real estate investment trust’s stock worth $65,511,000 after buying an additional 346,939 shares during the last quarter. Brown Advisory Inc. raised its position in Potlatchdeltic by 12.6% during the 2nd quarter. Brown Advisory Inc. now owns 865,338 shares of the real estate investment trust’s stock worth $44,003,000 after buying an additional 96,929 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Potlatchdeltic by 2.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 860,763 shares of the real estate investment trust’s stock worth $35,248,000 after buying an additional 20,105 shares during the last quarter. 85.40% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:PCH opened at $35.48 on Friday. 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 cap of $2.23 billion, a PE ratio of 15.03, a PEG ratio of 2.91 and a beta of 1.19. Potlatchdeltic Corp has a 1-year low of $33.09 and a 1-year high of $55.75.

Potlatchdeltic (NASDAQ:PCH) last posted its earnings results on Monday, October 29th. The real estate investment trust reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.01). The firm had revenue of $289.20 million for the quarter, compared to analysts’ expectations of $288.27 million. Potlatchdeltic had a net margin of 14.23% and a return on equity of 15.77%. Potlatchdeltic’s revenue for the quarter was up 51.9% compared to the same quarter last year. During the same period last year, the firm earned $0.82 earnings per share. Analysts expect that Potlatchdeltic Corp will post 2.45 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.51%. Potlatchdeltic’s dividend payout ratio (DPR) is 67.80%.

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

A number of research firms have issued reports on PCH. BidaskClub lowered shares of Potlatchdeltic from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 1st. BMO Capital Markets reduced their price target on shares of Potlatchdeltic from $49.00 to $44.00 and set a “hold” rating for the company in a research report on Wednesday, October 31st. Zacks Investment Research lowered shares of Potlatchdeltic from a “hold” rating to a “sell” rating in a research report on Wednesday, October 31st. DA Davidson raised shares of Potlatchdeltic from a “neutral” rating to a “buy” rating and reduced their price target 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. Finally, ValuEngine raised shares of Potlatchdeltic from a “strong sell” rating to a “sell” rating in a research report on Monday, October 29th. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $51.00.

TRADEMARK VIOLATION WARNING: “Potlatchdeltic Corp (PCH) Shares Bought by Eaton Vance Management” was originally posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another site, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this article can be viewed at https://www.dispatchtribunal.com/2018/12/08/potlatchdeltic-corp-pch-shares-bought-by-eaton-vance-management.html.

About Potlatchdeltic

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.

Featured Story: 52-Week High/Low

Want to see what other hedge funds are holding PCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Potlatchdeltic Corp (NASDAQ:PCH).

Institutional Ownership by Quarter for Potlatchdeltic (NASDAQ:PCH)

Receive News & Ratings for Potlatchdeltic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Potlatchdeltic and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply