Arizona State Retirement System Purchases 445 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Arizona State Retirement System boosted its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,256 shares of the real estate investment trust’s stock after purchasing an additional 445 shares during the period. Arizona State Retirement System’s holdings in PotlatchDeltic were worth $877,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PCH. Russell Investments Group Ltd. lifted its position in PotlatchDeltic by 353.2% during the 1st quarter. Russell Investments Group Ltd. now owns 455,008 shares of the real estate investment trust’s stock worth $21,394,000 after buying an additional 354,616 shares in the last quarter. Sei Investments Co. raised its stake in shares of PotlatchDeltic by 47.7% in the first quarter. Sei Investments Co. now owns 119,049 shares of the real estate investment trust’s stock worth $5,598,000 after acquiring an additional 38,461 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of PotlatchDeltic by 0.5% during the first quarter. Vanguard Group Inc. now owns 11,736,374 shares of the real estate investment trust’s stock worth $551,844,000 after purchasing an additional 57,237 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of PotlatchDeltic during the fourth quarter valued at approximately $1,292,000. Finally, Edgestream Partners L.P. increased its holdings in shares of PotlatchDeltic by 327.6% in the first quarter. Edgestream Partners L.P. now owns 54,146 shares of the real estate investment trust’s stock valued at $2,546,000 after purchasing an additional 41,483 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.

PotlatchDeltic Trading Up 2.7 %

PotlatchDeltic stock opened at $45.32 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.00. The firm has a 50-day moving average of $42.06 and a 200-day moving average of $42.67. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 79.51, a P/E/G ratio of 995.32 and a beta of 1.13. PotlatchDeltic Co. has a one year low of $37.06 and a one year high of $50.04.

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

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Friday, September 13th. PotlatchDeltic’s dividend payout ratio is 315.80%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Royal Bank of Canada upped their target price 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 cut their target price on PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating on the stock in a research note 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 shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $47.67.

Insider Buying and Selling at PotlatchDeltic

In related news, VP Ashlee Townsend Cribb sold 4,114 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $43.11, for a total value of $177,354.54. Following the transaction, the vice president now owns 29,039 shares in the company, valued at approximately $1,251,871.29. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

PotlatchDeltic Profile

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.