Dimensional Fund Advisors LP Decreases Holdings in Potlatchdeltic Corp (PCH)

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Dimensional Fund Advisors LP trimmed its holdings in shares of Potlatchdeltic Corp (NASDAQ:PCH) by 96.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,366 shares of the real estate investment trust’s stock after selling 337,980 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Potlatchdeltic were worth $578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PCH. Fisher Asset Management LLC lifted its stake in shares of Potlatchdeltic by 0.9% in the 2nd quarter. Fisher Asset Management LLC now owns 116,249 shares of the real estate investment trust’s stock valued at $5,911,000 after purchasing an additional 1,054 shares during the period. Arizona State Retirement System lifted its stake in shares of Potlatchdeltic by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 41,827 shares of the real estate investment trust’s stock valued at $2,127,000 after purchasing an additional 1,198 shares during the period. Bradley Foster & Sargent Inc. CT lifted its stake in shares of Potlatchdeltic by 5.0% in the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 38,566 shares of the real estate investment trust’s stock valued at $1,961,000 after purchasing an additional 1,833 shares during the period. Mackay Shields LLC lifted its stake in shares of Potlatchdeltic by 2.6% in the 2nd quarter. Mackay Shields LLC now owns 77,653 shares of the real estate investment trust’s stock valued at $3,948,000 after purchasing an additional 2,000 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Potlatchdeltic by 8.4% in the 2nd quarter. First Trust Advisors LP now owns 29,983 shares of the real estate investment trust’s stock valued at $1,525,000 after purchasing an additional 2,322 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

PCH opened at $36.05 on Wednesday. The company has a quick ratio of 2.40, a current ratio of 3.21 and a debt-to-equity ratio of 0.58. Potlatchdeltic Corp has a 1 year low of $33.09 and a 1 year high of $55.75. The firm has a market capitalization of $2.15 billion, a P/E ratio of 15.28, a PEG ratio of 2.34 and a beta of 1.10.

Potlatchdeltic (NASDAQ:PCH) last posted its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $0.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.01). The company had revenue of $289.20 million for the quarter, compared to analyst estimates of $288.27 million. Potlatchdeltic had a return on equity of 18.57% and a net margin of 12.72%. The business’s revenue was up 51.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 earnings per share. As a group, equities research analysts forecast that Potlatchdeltic Corp will post 2.94 earnings per share for the current fiscal year.

The business also recently disclosed a special dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, September 27th will be given a dividend of $3.54 per share. This represents a yield of 3.31%. The ex-dividend date of this dividend is Thursday, September 13th. Potlatchdeltic’s dividend payout ratio is presently 67.80%.

Potlatchdeltic declared that its board has authorized a share buyback 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

PCH has been the subject of several analyst reports. Zacks Investment Research cut shares of Potlatchdeltic from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. ValuEngine upgraded shares of Potlatchdeltic from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Finally, BidaskClub cut shares of Potlatchdeltic from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $51.83.

In other Potlatchdeltic news, VP Lorrie D. Scott sold 1,500 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $47.06, for a total transaction of $70,590.00. Following the completion of the transaction, the vice president now directly owns 14,586 shares in the company, valued at $686,417.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

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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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)

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