Potlatchdeltic Corp (PCH) Position Raised by Comerica Bank

Comerica Bank lifted its stake in shares of Potlatchdeltic Corp (NASDAQ:PCH) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,810 shares of the real estate investment trust’s stock after purchasing an additional 3,890 shares during the quarter. Comerica Bank owned about 0.07% of Potlatchdeltic worth $1,676,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Morgan Stanley raised its position in Potlatchdeltic by 24.9% in the third quarter. Morgan Stanley now owns 440,817 shares of the real estate investment trust’s stock worth $18,051,000 after acquiring an additional 87,831 shares in the last quarter. Retirement Systems of Alabama raised its position in Potlatchdeltic by 7.4% in the fourth quarter. Retirement Systems of Alabama now owns 183,243 shares of the real estate investment trust’s stock worth $5,798,000 after acquiring an additional 12,560 shares in the last quarter. Old Port Advisors bought a new stake in Potlatchdeltic in the fourth quarter worth about $1,473,000. Wells Fargo & Company MN raised its position in Potlatchdeltic by 19.8% in the third quarter. Wells Fargo & Company MN now owns 331,477 shares of the real estate investment trust’s stock worth $13,575,000 after acquiring an additional 54,676 shares in the last quarter. Finally, Radnor Capital Management LLC raised its position in Potlatchdeltic by 6.9% in the fourth quarter. Radnor Capital Management LLC now owns 9,029 shares of the real estate investment trust’s stock worth $286,000 after acquiring an additional 579 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.

Get Potlatchdeltic alerts:

Shares of PCH opened at $35.27 on Friday. The stock has a market capitalization of $2.21 billion, a P/E ratio of 15.47, a P/E/G ratio of 6.67 and a beta of 1.31. Potlatchdeltic Corp has a 1-year low of $28.07 and a 1-year high of $53.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.48 and a current ratio of 1.92.

Potlatchdeltic (NASDAQ:PCH) last issued its quarterly earnings results on Monday, February 4th. The real estate investment trust reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. The firm had revenue of $217.25 million for the quarter, compared to analysts’ expectations of $225.86 million. Potlatchdeltic had a return on equity of 10.87% and a net margin of 12.61%. During the same quarter last year, the business posted $0.62 EPS. As a group, equities analysts forecast that Potlatchdeltic Corp will post 1.11 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be paid a $0.40 dividend. The ex-dividend date is Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.54%. Potlatchdeltic’s dividend payout ratio is currently 70.18%.

In other Potlatchdeltic news, CFO Jerald W. Richards sold 9,390 shares of Potlatchdeltic stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $35.01, for a total transaction of $328,743.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Thomas J. Temple sold 4,618 shares of Potlatchdeltic stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $35.01, for a total value of $161,676.18. The disclosure for this sale can be found here. Insiders sold a total of 66,374 shares of company stock worth $2,323,754 in the last three months. 3.00% of the stock is currently owned by company insiders.

A number of equities analysts recently weighed in on PCH shares. BidaskClub raised Potlatchdeltic from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 15th. Zacks Investment Research raised Potlatchdeltic from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. ValuEngine cut Potlatchdeltic from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Vertical Research raised Potlatchdeltic from a “hold” rating to a “buy” rating in a research note on Monday, January 7th. Finally, Raymond James cut Potlatchdeltic from an “outperform” rating to a “mkt perform” rating in a research note on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $49.50.

ILLEGAL ACTIVITY WARNING: This report was reported by Ticker Report and is the sole property of of Ticker Report. If you are viewing this report on another site, it was stolen and republished in violation of US & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.tickerreport.com/banking-finance/4208252/potlatchdeltic-corp-pch-position-raised-by-comerica-bank.html.

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.

Recommended Story: What are the risks of holding treasury bonds?