Allspring Global Investments Holdings LLC Grows Stock Position in PotlatchDeltic Co. (NASDAQ:PCH)

Allspring Global Investments Holdings LLC increased its holdings in PotlatchDeltic Co. (NASDAQ:PCH) by 0.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,448 shares of the real estate investment trust’s stock after buying an additional 413 shares during the period. Allspring Global Investments Holdings LLC owned about 0.13% of PotlatchDeltic worth $5,005,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Planned Solutions Inc. purchased a new position in PotlatchDeltic in the 4th quarter valued at about $60,000. VitalStone Financial LLC lifted its holdings in PotlatchDeltic by 109.6% in the 3rd quarter. VitalStone Financial LLC now owns 3,608 shares of the real estate investment trust’s stock valued at $163,000 after purchasing an additional 1,887 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in PotlatchDeltic in the 4th quarter valued at about $209,000. Vanguard Personalized Indexing Management LLC purchased a new position in PotlatchDeltic in the 4th quarter valued at about $280,000. Finally, BTC Capital Management Inc. purchased a new position in PotlatchDeltic in the 1st quarter valued at about $277,000. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada upgraded shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $45.00 to $46.00 in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.67.

PotlatchDeltic Trading Down 1.1 %

Shares of PCH stock traded down $0.43 during trading hours on Tuesday, hitting $37.35. 22,524 shares of the company were exchanged, compared to its average volume of 420,927. The firm has a market cap of $2.97 billion, a PE ratio of 66.28, a PEG ratio of 3.12 and a beta of 1.12. PotlatchDeltic Co. has a 1 year low of $37.31 and a 1 year high of $54.44. The company has a quick ratio of 1.12, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average of $41.72 and a 200 day moving average of $44.53.

PotlatchDeltic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.80 annualized dividend and a dividend yield of 4.82%. PotlatchDeltic’s payout ratio is currently 315.80%.

About PotlatchDeltic

PotlatchDeltic Corporation (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.