Private Ocean LLC Sells 669 Shares of Potlatchdeltic Corp (NASDAQ:PCH)

Private Ocean LLC lowered its holdings in Potlatchdeltic Corp (NASDAQ:PCH) by 41.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 947 shares of the real estate investment trust’s stock after selling 669 shares during the period. Private Ocean LLC’s holdings in Potlatchdeltic were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. North Star Investment Management Corp. bought a new position in shares of Potlatchdeltic in the 3rd quarter valued at about $74,000. Quantamental Technologies LLC bought a new position in shares of Potlatchdeltic in the 2nd quarter valued at about $139,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Potlatchdeltic in the 2nd quarter valued at about $152,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Potlatchdeltic by 18.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,414 shares of the real estate investment trust’s stock valued at $181,000 after acquiring an additional 688 shares during the period. Finally, CAPROCK Group Inc. bought a new position in shares of Potlatchdeltic in the 3rd quarter valued at about $205,000. 89.43% of the stock is owned by institutional investors and hedge funds.

Shares of PCH stock traded up $0.09 during midday trading on Friday, hitting $43.98. 300,800 shares of the company were exchanged, compared to its average volume of 419,826. The firm has a market capitalization of $2.93 billion, a P/E ratio of 19.29 and a beta of 1.39. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.17 and a current ratio of 1.61. The firm’s 50 day moving average price is $41.86 and its two-hundred day moving average price is $38.92. Potlatchdeltic Corp has a 52 week low of $28.07 and a 52 week high of $44.69.

Potlatchdeltic (NASDAQ:PCH) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.03. Potlatchdeltic had a net margin of 5.48% and a return on equity of 3.60%. The firm had revenue of $226.30 million for the quarter, compared to analyst estimates of $234.95 million. During the same period in the previous year, the firm posted $0.87 EPS. The company’s revenue for the quarter was down 21.7% compared to the same quarter last year. Analysts expect that Potlatchdeltic Corp will post 0.78 EPS for the current year.

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A number of research analysts have recently commented on the stock. BidaskClub raised shares of Potlatchdeltic from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. ValuEngine raised shares of Potlatchdeltic from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. TheStreet downgraded shares of Potlatchdeltic from a “b” rating to a “c+” rating in a research report on Monday, October 28th. Royal Bank of Canada downgraded shares of Potlatchdeltic from an “outperform” rating to a “sector perform” rating and set a $42.00 price objective for the company. in a research report on Wednesday, July 31st. Finally, Zacks Investment Research raised shares of Potlatchdeltic from a “sell” rating to a “hold” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Potlatchdeltic has an average rating of “Buy” and a consensus target price of $43.67.

Potlatchdeltic 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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