Ensign Peak Advisors Inc Trims Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Ensign Peak Advisors Inc trimmed its position in PotlatchDeltic Co. (NASDAQ:PCH) by 15.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,664 shares of the real estate investment trust’s stock after selling 5,305 shares during the period. Ensign Peak Advisors Inc’s holdings in PotlatchDeltic were worth $1,168,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in PotlatchDeltic by 0.5% in 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 during the period. Westwood Holdings Group Inc. grew its stake in PotlatchDeltic by 3.6% in the second quarter. Westwood Holdings Group Inc. now owns 1,664,242 shares of the real estate investment trust’s stock worth $65,554,000 after purchasing an additional 58,111 shares during the period. Janus Henderson Group PLC grew its stake in PotlatchDeltic by 19.2% in the first quarter. Janus Henderson Group PLC now owns 1,316,743 shares of the real estate investment trust’s stock worth $61,913,000 after purchasing an additional 212,121 shares during the period. Schroder Investment Management Group grew its stake in PotlatchDeltic by 79.3% in the fourth 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. Finally, Heartland Advisors Inc. grew its stake in shares of PotlatchDeltic by 6.4% in the first quarter. Heartland Advisors Inc. now owns 521,312 shares of the real estate investment trust’s stock worth $24,512,000 after acquiring an additional 31,514 shares during the last quarter. 86.06% of the stock is owned by hedge funds and other institutional investors.

PotlatchDeltic Trading Down 0.2 %

Shares of NASDAQ:PCH opened at $45.13 on Friday. The company has a market cap of $3.56 billion, a P/E ratio of 79.18 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. PotlatchDeltic Co. has a 1 year low of $37.06 and a 1 year high of $50.04. The stock’s fifty day moving average price is $43.13 and its 200-day moving average price is $42.61.

PotlatchDeltic (NASDAQ:PCH) last announced its quarterly 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. The firm had revenue of $320.70 million for the quarter, compared to the consensus estimate of $305.01 million. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The company’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 earnings per share. Sell-side analysts expect that PotlatchDeltic Co. will post 0.02 earnings per share for the current year.

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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 3.99%. The ex-dividend date is Friday, September 13th. PotlatchDeltic’s payout ratio is currently 315.80%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PCH. 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. Royal Bank of Canada increased their target price on PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Thursday, September 12th. Finally, StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $47.67.

Insider Buying and Selling at PotlatchDeltic

In other PotlatchDeltic news, VP Ashlee Townsend Cribb sold 4,114 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $43.11, for a total transaction of $177,354.54. Following the completion of the sale, the vice president now directly owns 29,039 shares in the company, valued at approximately $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 owned by corporate insiders.

PotlatchDeltic Company 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.