Convergence Investment Partners LLC Makes New Investment in Potlatchdeltic Corp (NASDAQ:PCH)

Convergence Investment Partners LLC acquired a new position in shares of Potlatchdeltic Corp (NASDAQ:PCH) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,445 shares of the real estate investment trust’s stock, valued at approximately $739,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its stake in shares of Potlatchdeltic by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the real estate investment trust’s stock valued at $635,000 after purchasing an additional 400 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Potlatchdeltic by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 30,326 shares of the real estate investment trust’s stock valued at $951,000 after buying an additional 527 shares during the period. Raymond James Trust N.A. lifted its holdings in Potlatchdeltic by 7.1% in the second quarter. Raymond James Trust N.A. now owns 7,967 shares of the real estate investment trust’s stock valued at $303,000 after buying an additional 527 shares during the period. Aperio Group LLC lifted its holdings in Potlatchdeltic by 3.0% in the first quarter. Aperio Group LLC now owns 19,609 shares of the real estate investment trust’s stock valued at $616,000 after buying an additional 577 shares during the period. Finally, United Capital Financial Advisers LLC lifted its holdings in Potlatchdeltic by 3.1% in the first quarter. United Capital Financial Advisers LLC now owns 27,435 shares of the real estate investment trust’s stock valued at $861,000 after buying an additional 837 shares during the period. 83.98% of the stock is currently owned by institutional investors and hedge funds.

In other Potlatchdeltic news, Director Larry Peiros bought 6,500 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was acquired at an average price of $33.00 per share, with a total value of $214,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is currently owned by company insiders.

Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Potlatchdeltic from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Tuesday, June 2nd. BidaskClub upgraded shares of Potlatchdeltic from a “hold” rating to a “buy” rating in a report on Thursday. DA Davidson cut their price objective on shares of Potlatchdeltic from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Royal Bank of Canada upgraded shares of Potlatchdeltic from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $40.00 to $45.00 in a report on Friday, July 10th. Finally, Raymond James increased their target price on shares of Potlatchdeltic from $38.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $44.60.

Shares of NASDAQ:PCH traded up $0.20 during midday trading on Friday, reaching $42.81. 435,388 shares of the company were exchanged, compared to its average volume of 505,901. The firm has a market cap of $2.87 billion, a PE ratio of 164.66 and a beta of 1.33. Potlatchdeltic Corp has a fifty-two week low of $22.40 and a fifty-two week high of $45.42. The stock has a fifty day simple moving average of $38.94 and a two-hundred day simple moving average of $36.65. The company has a quick ratio of 1.04, a current ratio of 1.40 and a debt-to-equity ratio of 0.63.

Potlatchdeltic (NASDAQ:PCH) last released its earnings results on Monday, July 27th. The real estate investment trust reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The business had revenue of $181.56 million during the quarter, compared to the consensus estimate of $173.89 million. Potlatchdeltic had a net margin of 2.17% and a return on equity of 4.19%. The firm’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 earnings per share. As a group, analysts forecast that Potlatchdeltic Corp will post 1.43 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for Potlatchdeltic (NASDAQ:PCH)

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