State of Alaska Department of Revenue Has $2.07 Million Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

State of Alaska Department of Revenue lowered its stake in PotlatchDeltic Co. (NASDAQ:PCH) by 1.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 46,003 shares of the real estate investment trust’s stock after selling 685 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of PotlatchDeltic worth $2,071,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. lifted its holdings in shares of 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 buying an additional 556 shares in the last quarter. Independence Bank of Kentucky acquired a new stake in PotlatchDeltic in the 2nd quarter worth about $51,000. Beach Investment Counsel Inc. PA bought a new stake in PotlatchDeltic in the 2nd quarter valued at about $59,000. Quarry LP acquired a new position in shares of PotlatchDeltic during the 2nd quarter worth approximately $82,000. Finally, Quest Partners LLC bought a new position in shares of PotlatchDeltic during the second quarter worth approximately $85,000. 86.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PCH has been the subject of several recent research reports. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Thursday, September 12th. Truist Financial raised their price target on PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 price objective on shares of PotlatchDeltic in a research report on Wednesday. Finally, StockNews.com upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, PotlatchDeltic presently has a consensus rating of “Hold” and a consensus target price of $48.67.

PotlatchDeltic Trading Up 0.6 %

Shares of PCH opened at $41.81 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.00 and a current ratio of 1.24. PotlatchDeltic Co. has a 52-week low of $37.06 and a 52-week high of $50.04. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 199.10 and a beta of 1.13. The business’s fifty day moving average is $43.56 and its 200-day moving average is $42.20.

PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The firm had revenue of $255.10 million during the quarter, compared to the consensus estimate of $241.35 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The business’s quarterly revenue was down 3.9% on a year-over-year basis. Equities analysts anticipate that PotlatchDeltic Co. will post 0.01 EPS for the current fiscal year.

PotlatchDeltic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.80 dividend on an annualized basis and a yield of 4.31%. PotlatchDeltic’s dividend payout ratio is currently 857.14%.

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.