Penserra Capital Management LLC Buys 626 Shares of Potlatchdeltic Corp (NASDAQ:PCH)
Penserra Capital Management LLC boosted its stake in shares of Potlatchdeltic Corp (NASDAQ:PCH) by 45.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,016 shares of the real estate investment trust’s stock after acquiring an additional 626 shares during the quarter. Penserra Capital Management LLC’s holdings in Potlatchdeltic were worth $85,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of PCH. Stifel Financial Corp lifted its position in shares of Potlatchdeltic by 9.5% during the 3rd quarter. Stifel Financial Corp now owns 8,776 shares of the real estate investment trust’s stock worth $359,000 after purchasing an additional 761 shares during the last quarter. Ancora Advisors LLC lifted its stake in Potlatchdeltic by 27.1% in the third quarter. Ancora Advisors LLC now owns 314,558 shares of the real estate investment trust’s stock valued at $12,923,000 after acquiring an additional 66,993 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Potlatchdeltic by 1.2% in the third quarter. California State Teachers Retirement System now owns 103,092 shares of the real estate investment trust’s stock valued at $4,236,000 after purchasing an additional 1,231 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Potlatchdeltic in the third quarter valued at approximately $181,000. Finally, Zebra Capital Management LLC raised its position in shares of Potlatchdeltic by 16.4% in the third quarter. Zebra Capital Management LLC now owns 18,181 shares of the real estate investment trust’s stock valued at $747,000 after purchasing an additional 2,563 shares during the period. 88.35% of the stock is currently owned by institutional investors.
Shares of NASDAQ PCH traded up $0.28 during midday trading on Thursday, hitting $31.09. 553,165 shares of the stock traded hands, compared to its average volume of 445,877. The company has a market cap of $2.07 billion, a PE ratio of 37.91 and a beta of 1.48. Potlatchdeltic Corp has a one year low of $22.40 and a one year high of $45.42. The business has a 50 day moving average price of $36.82 and a two-hundred day moving average price of $41.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.62.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $1.60 annualized dividend and a yield of 5.15%. Potlatchdeltic’s dividend payout ratio (DPR) is 200.00%.
In related news, COO Eric J. Cremers sold 7,145 shares of Potlatchdeltic stock in a transaction on Friday, February 14th. The stock was sold at an average price of $41.65, for a total value of $297,589.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Covey sold 21,106 shares of Potlatchdeltic stock in a transaction on Friday, February 14th. The stock was sold at an average price of $41.66, for a total value of $879,275.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,640 shares of company stock worth $1,443,031. 3.00% of the stock is owned by corporate insiders.
A number of analysts have recently commented on PCH shares. ValuEngine cut Potlatchdeltic from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Zacks Investment Research cut Potlatchdeltic from a “buy” rating to a “strong sell” rating in a research note on Saturday, February 8th. BidaskClub raised Potlatchdeltic from a “sell” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Raymond James raised Potlatchdeltic from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Potlatchdeltic has an average rating of “Hold” and a consensus target price of $45.00.
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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