Renaissance Technologies LLC Increases Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Renaissance Technologies LLC grew its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 2,054.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,899 shares of the real estate investment trust’s stock after purchasing an additional 98,123 shares during the quarter. Renaissance Technologies LLC owned approximately 0.13% of PotlatchDeltic worth $4,053,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in shares of PotlatchDeltic by 1.5% during the 4th quarter. Franklin Resources Inc. now owns 27,287 shares of the real estate investment trust’s stock valued at $1,340,000 after purchasing an additional 395 shares during the last quarter. Cibc World Markets Corp bought a new position in PotlatchDeltic during the fourth quarter valued at approximately $1,292,000. Schroder Investment Management Group grew its holdings in PotlatchDeltic by 79.3% during the 4th quarter. Schroder Investment Management Group now owns 769,957 shares of the real estate investment trust’s stock valued at $37,805,000 after buying an additional 340,555 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in PotlatchDeltic by 14.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,456,211 shares of the real estate investment trust’s stock worth $71,500,000 after acquiring an additional 188,333 shares during the last quarter. Finally, Security National Bank purchased a new stake in shares of PotlatchDeltic during the 4th quarter worth approximately $1,073,000. Institutional investors own 86.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PCH. StockNews.com upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Thursday, September 12th. Royal Bank of Canada raised their price objective on PotlatchDeltic from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, 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 report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $47.67.

PotlatchDeltic Price Performance

Shares of PCH opened at $45.13 on Friday. The company has a market capitalization of $3.56 billion, a P/E ratio of 79.18 and a beta of 1.13. The business’s 50-day moving average is $43.13 and its two-hundred day moving average is $42.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.29. PotlatchDeltic Co. has a fifty-two week low of $37.06 and a fifty-two week high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last released its quarterly 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 company had revenue of $320.70 million during 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 quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 EPS. Research analysts predict that PotlatchDeltic Co. will post 0.02 earnings per share for the current year.

PotlatchDeltic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Friday, September 13th. PotlatchDeltic’s dividend payout ratio (DPR) is currently 315.80%.

Insider Buying and Selling at PotlatchDeltic

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 value of $177,354.54. Following the completion of the sale, the vice president now owns 29,039 shares of the company’s stock, valued at approximately $1,251,871.29. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is owned by company 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.