Allspring Global Investments Holdings LLC Buys 65,682 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Allspring Global Investments Holdings LLC lifted its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 73.9% in the third quarter, HoldingsChannel.com reports. The fund owned 154,568 shares of the real estate investment trust’s stock after acquiring an additional 65,682 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PotlatchDeltic were worth $6,963,000 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 stock. Bessemer Group Inc. lifted 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 purchasing an additional 556 shares during the last quarter. Independence Bank of Kentucky bought a new position in shares of PotlatchDeltic during the 2nd quarter valued at about $51,000. Beach Investment Counsel Inc. PA purchased a new position in shares of PotlatchDeltic during the 2nd quarter valued at about $59,000. Quarry LP bought a new stake in PotlatchDeltic in the 2nd quarter worth approximately $82,000. Finally, Quest Partners LLC purchased a new stake in PotlatchDeltic in the second quarter worth approximately $85,000. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

PotlatchDeltic Trading Down 0.7 %

NASDAQ:PCH opened at $42.21 on Monday. The firm has a market capitalization of $3.36 billion, a P/E ratio of 74.05 and a beta of 1.13. The company has a quick ratio of 1.00, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average of $43.59 and a 200 day moving average of $42.26. PotlatchDeltic Co. has a 52 week low of $37.06 and a 52 week high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last posted 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 company had revenue of $320.70 million during the quarter, compared to analyst estimates of $305.01 million. PotlatchDeltic had a net margin of 3.45% and a return on equity of 1.14%. PotlatchDeltic’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share. On average, research analysts predict that PotlatchDeltic Co. will post 0.02 earnings per share for the current year.

PotlatchDeltic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.26%. The ex-dividend date was Friday, September 13th. PotlatchDeltic’s dividend payout ratio (DPR) is currently 315.79%.

Analysts Set New Price Targets

Several research analysts have commented on PCH shares. Bank of America raised shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Thursday, September 12th. Royal Bank of Canada boosted their price target on shares of PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Truist Financial raised their price objective on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Finally, StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $48.67.

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.