The Vanguard Group, Inc. recently announced the acquisition of new stake in PotlatchDeltic Corporation (NASDAQ:PCH). The institutional investor has increased its shareholding in the Real Estate company by 8.49% to 11.68 million shares with purchase of 0.91 million shares. This fresh investment now brings its stake to 14.47% valued currently at $558.38 million. In addition, Pictet Asset Management SA raised its holdings by 0.21 million to 3.82 million shares. And SSgA Funds Management, Inc. has lifted its position by 7.47% or 0.18 million shares – to 2.61 million shares.
With over 0.43 million PotlatchDeltic Corporation (PCH) shares trading Tuesday and a closing price of $43.22 on the day, the dollar volume was approximately $18.77 million. The shares have shown a negative half year performance of -2.27% and its price on 01/10/23 lost nearly -2.57%. Currently, there are 80.78M common shares owned by the public and among those 79.18M shares have been available to trade.
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Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 189,188 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 157,166 shares.
The top 3 mutual fund holders in PotlatchDeltic Corporation are Vanguard Real Estate Index Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market Index. Vanguard Real Estate Index Fund owns 3.64 million shares of the company’s stock, all valued at over $173.88 million. The company sold 19428.0 shares recently to bring their total holdings to about 4.50% of the shares outstanding. iShares Core S&P Mid Cap ETF sold 469.0 shares to see its total holdings shrink to 2.45 million shares valued at over $117.08 million and representing 3.03% of the shares outstanding. Vanguard Total Stock Market Index bought 2738.0 shares to bring its total holdings to over 2.29 million shares at a value of $109.62 million. Vanguard Total Stock Market Index now owns shares totaling to 2.84% of the shares outstanding.
Shares of PotlatchDeltic Corporation (NASDAQ: PCH) opened at $44.27, down -$0.09 from a prior closing price of $44.36. However, the script later moved the day high at 44.27, down -2.57%. The company’s stock has a 5-day price change of -1.55% and 3.14% over the past three months. PCH shares are trading -1.75% year to date (YTD), with the 12-month market performance down to -21.90% lower. It has a 12-month low price of $38.26 and touched a high of $58.65 over the same period. PCH has an average intraday trading volume of 468.71K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.25%, -4.09%, and -7.43% respectively.
Institutional ownership of PotlatchDeltic Corporation (NASDAQ: PCH) shares accounts for 84.90% of the company’s 80.78M shares outstanding. Mutual fund holders own 4.08%, while other institutional holders and individual stakeholders account for 50.37% and 33.33% respectively.
It has a market capitalization of $3.39B and a beta (3y monthly) value of 1.17. The stock’s trailing 12-month PE ratio is 8.17, while the earnings-per-share (ttm) stands at $5.29. The company has a PEG of 1.63 and a Quick Ratio of 3.60 with the debt-to-equity ratio at 0.43. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.55% over the week and 2.58% over the month.
Analysts forecast that PotlatchDeltic Corporation (PCH) will achieve an EPS of $0.23 for the current quarter, $0.29 for the next quarter and $1.61 for 2023. The lowest estimate earnings-per-share for the quarter is $0.13 while analysts give the company a high EPS estimate of $0.33. Comparatively, EPS for the current quarter was $0.58 a year ago. Earnings per share for the fiscal year are expected to increase by 153.50%, and -70.40% over the next financial year. EPS should shrink at an annualized rate of 5.00% over the next five years, compared to 88.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate PotlatchDeltic Corporation (PCH) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 3 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PCH, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Outperform rating for the stock in a research note on October 18, 2022, with the firm’s price target at $50-$55. Truist coverage for the PotlatchDeltic Corporation (PCH) stock in a research note released on June 29, 2022 offered a Hold rating with a price target of $50. RBC Capital Mkts was of a view on April 27, 2022 that the stock is Sector Perform, while RBC Capital Mkts gave the stock Outperform rating on February 02, 2022, issuing a price target of $65. DA Davidson on their part issued Buy rating on October 06, 2021.
