Liberty Mutual Group Asset Management Inc. Raises Stake in PotlatchDeltic Co. (NASDAQ:PCH)

Liberty Mutual Group Asset Management Inc. lifted its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,928 shares of the real estate investment trust’s stock after acquiring an additional 3,545 shares during the period. Liberty Mutual Group Asset Management Inc. owned 0.06% of PotlatchDeltic worth $2,006,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. increased its stake in PotlatchDeltic by 370.7% during the first quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 556 shares during the last quarter. Independence Bank of Kentucky purchased a new stake in PotlatchDeltic in the 2nd quarter valued at about $51,000. Beach Investment Counsel Inc. PA acquired a new position in PotlatchDeltic in the second quarter valued at about $59,000. Quest Partners LLC purchased a new position in PotlatchDeltic during the second quarter worth about $85,000. Finally, Park Place Capital Corp acquired a new stake in shares of PotlatchDeltic during the second quarter valued at about $105,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

Wall Street Analyst Weigh In

PCH has been the subject of several research reports. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Royal Bank of Canada lifted their price objective on shares of PotlatchDeltic from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Bank of America upgraded shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Thursday, September 12th. Finally, Truist Financial dropped their price target on shares of PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, PotlatchDeltic has a consensus rating of “Hold” and a consensus target price of $47.67.

PotlatchDeltic Price Performance

Shares of NASDAQ:PCH opened at $45.21 on Friday. PotlatchDeltic Co. has a 12 month low of $37.06 and a 12 month high of $50.04. The firm has a market capitalization of $3.59 billion, a P/E ratio of 79.32 and a beta of 1.13. 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 company’s fifty day moving average price is $43.07 and its 200 day moving average price is $42.65.

PotlatchDeltic (NASDAQ:PCH) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The firm had revenue of $320.70 million during the quarter, compared to analysts’ expectations of $305.01 million. During the same period in the prior year, the firm earned $0.06 EPS. The business’s revenue was up 30.3% on a year-over-year basis. As a group, sell-side analysts predict that PotlatchDeltic Co. will post 0.02 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend is Friday, September 13th. PotlatchDeltic’s dividend payout ratio is currently 315.79%.

Insider Activity at PotlatchDeltic

In other news, VP Ashlee Townsend Cribb sold 4,114 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was 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 of the company’s stock, valued at $1,251,871.29. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by 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.