Marshall Wace LLP Takes Position in Potlatchdeltic Corp (PCH)
Marshall Wace LLP bought a new position in Potlatchdeltic Corp (NASDAQ:PCH) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,681 shares of the real estate investment trust’s stock, valued at approximately $289,000.
Other large investors also recently bought and sold shares of the company. Contravisory Investment Management Inc. bought a new stake in shares of Potlatchdeltic during the 2nd quarter valued at $142,000. NumerixS Investment Technologies Inc purchased a new position in shares of Potlatchdeltic during the 2nd quarter valued at $171,000. Csenge Advisory Group purchased a new position in shares of Potlatchdeltic during the 1st quarter valued at $200,000. Mariner LLC purchased a new position in shares of Potlatchdeltic during the 1st quarter valued at $203,000. Finally, Aristotle Atlantic Partners LLC purchased a new position in shares of Potlatchdeltic during the 1st quarter valued at $234,000. 83.46% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on PCH shares. Zacks Investment Research upgraded shares of Potlatchdeltic from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Wednesday, July 11th. ValuEngine cut shares of Potlatchdeltic from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. Finally, BidaskClub cut shares of Potlatchdeltic from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $50.83.
PCH opened at $45.80 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.40 and a current ratio of 3.21. Potlatchdeltic Corp has a fifty-two week low of $44.88 and a fifty-two week high of $56.35. The firm has a market cap of $2.89 billion, a P/E ratio of 19.41, a PEG ratio of 3.14 and a beta of 1.10.
Potlatchdeltic (NASDAQ:PCH) last released its earnings results on Monday, July 30th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.14. Potlatchdeltic had a net margin of 12.72% and a return on equity of 18.57%. The company had revenue of $268.20 million for the quarter, compared to analysts’ expectations of $271.88 million. During the same quarter in the previous year, the company earned $0.59 EPS. Potlatchdeltic’s revenue for the quarter was up 64.3% on a year-over-year basis. equities analysts expect that Potlatchdeltic Corp will post 2.94 earnings per share for the current year.
The company also recently announced a special dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, September 27th will be paid a dividend of $3.54 per share. This represents a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, September 13th. Potlatchdeltic’s dividend payout ratio (DPR) is 67.80%.
Potlatchdeltic announced that its Board of Directors has approved a stock repurchase program on Thursday, August 30th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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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