Insider Selling: Potlatchdeltic Corp (PCH) Director Sells 1,781 Shares of Stock
Potlatchdeltic Corp (NASDAQ:PCH) Director John S. Moody sold 1,781 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $33.68, for a total value of $59,984.08. Following the completion of the sale, the director now owns 2,617 shares of the company’s stock, valued at $88,140.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of PCH traded up $0.41 during trading hours on Tuesday, hitting $33.93. 528,217 shares of the stock were exchanged, compared to its average volume of 475,717. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.72. Potlatchdeltic Corp has a 12-month low of $28.07 and a 12-month high of $52.65. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 7.28 and a beta of 1.35.
Potlatchdeltic (NASDAQ:PCH) last issued its quarterly earnings results on Monday, April 29th. The real estate investment trust reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.04. Potlatchdeltic had a return on equity of 8.66% and a net margin of 12.01%. The firm had revenue of $181.72 million during the quarter, compared to analysts’ expectations of $179.89 million. During the same period in the previous year, the business earned $0.69 earnings per share. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, analysts predict that Potlatchdeltic Corp will post 0.93 earnings per share for the current year.
A number of analysts have recently commented on PCH shares. Seaport Global Securities started coverage on Potlatchdeltic in a research report on Tuesday, April 2nd. They issued a “buy” rating and a $45.00 price objective for the company. Bank of America upgraded Potlatchdeltic from a “neutral” rating to a “buy” rating and set a $37.88 price objective for the company in a research report on Friday, April 5th. BidaskClub upgraded Potlatchdeltic from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Vertical Research cut Potlatchdeltic from a “buy” rating to a “hold” rating and set a $39.00 price target for the company. in a research report on Friday, April 12th. Finally, BMO Capital Markets upgraded Potlatchdeltic from a “market perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research report on Monday, March 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.48.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCH. FMR LLC boosted its stake in Potlatchdeltic by 199.1% during the fourth quarter. FMR LLC now owns 1,499,399 shares of the real estate investment trust’s stock worth $47,440,000 after buying an additional 998,147 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Potlatchdeltic by 3,277.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 834,758 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 810,044 shares during the last quarter. Norges Bank acquired a new position in Potlatchdeltic during the fourth quarter worth $19,321,000. Clearbridge Investments LLC acquired a new position in Potlatchdeltic during the first quarter worth $13,705,000. Finally, JPMorgan Chase & Co. boosted its stake in Potlatchdeltic by 112.5% during the first quarter. JPMorgan Chase & Co. now owns 685,087 shares of the real estate investment trust’s stock worth $25,890,000 after buying an additional 362,625 shares during the last quarter. 87.68% of the stock is currently owned by institutional investors.
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Potlatchdeltic Company 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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