Headlands Technologies LLC Purchases New Position in PotlatchDeltic Co. (NASDAQ:PCH)

Headlands Technologies LLC purchased a new stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,291 shares of the real estate investment trust’s stock, valued at approximately $248,000.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of PotlatchDeltic in the 4th quarter worth about $150,557,000. Russell Investments Group Ltd. lifted its stake in shares of PotlatchDeltic by 353.2% in the 1st quarter. Russell Investments Group Ltd. now owns 455,008 shares of the real estate investment trust’s stock valued at $21,394,000 after purchasing an additional 354,616 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of PotlatchDeltic by 79.3% in the 4th quarter. Schroder Investment Management Group now owns 769,957 shares of the real estate investment trust’s stock worth $37,805,000 after purchasing an additional 340,555 shares during the period. Janus Henderson Group PLC increased its position in shares of PotlatchDeltic by 19.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,316,743 shares of the real estate investment trust’s stock valued at $61,913,000 after purchasing an additional 212,121 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its holdings in PotlatchDeltic by 14.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,456,211 shares of the real estate investment trust’s stock valued at $71,500,000 after buying an additional 188,333 shares during the period. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Price Performance

Shares of PCH stock opened at $45.32 on Friday. The company has a market capitalization of $3.58 billion, a P/E ratio of 79.51, a P/E/G ratio of 995.32 and a beta of 1.13. The company’s 50-day simple moving average is $42.06 and its two-hundred day simple moving average is $42.68. PotlatchDeltic Co. has a one year low of $37.06 and a one year high of $50.04. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.00.

PotlatchDeltic (NASDAQ:PCH) last announced its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $320.70 million for the quarter, compared to analysts’ expectations of $305.01 million. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. PotlatchDeltic’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 earnings per share.

PotlatchDeltic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Friday, September 13th. PotlatchDeltic’s dividend payout ratio (DPR) is presently 315.80%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PCH. Royal Bank of Canada boosted their price objective on shares of PotlatchDeltic from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Truist Financial reduced their price objective on shares of PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Thursday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $47.67.

Insiders Place Their Bets

In other news, VP Ashlee Townsend Cribb sold 4,114 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $43.11, for a total transaction of $177,354.54. Following the transaction, the vice president now directly owns 29,039 shares in the company, valued at $1,251,871.29. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by company insiders.

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.