New York State Teachers Retirement System Trims Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

New York State Teachers Retirement System trimmed its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,575 shares of the real estate investment trust’s stock after selling 1,400 shares during the quarter. New York State Teachers Retirement System owned 0.13% of PotlatchDeltic worth $4,531,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bessemer Group Inc. increased its holdings in PotlatchDeltic by 370.7% during the 1st 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 period. Independence Bank of Kentucky bought a new position in shares of PotlatchDeltic during the 2nd quarter worth $51,000. Beach Investment Counsel Inc. PA purchased a new position in shares of PotlatchDeltic during the second quarter valued at $59,000. Quarry LP bought a new stake in shares of PotlatchDeltic in the second quarter valued at about $82,000. Finally, Quest Partners LLC purchased a new stake in PotlatchDeltic in the second quarter worth about $85,000. 86.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Bank of America raised shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Thursday, September 12th. StockNews.com downgraded shares of PotlatchDeltic from a “hold” rating to a “sell” rating in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday, October 30th. Finally, Truist Financial boosted 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $48.67.

PotlatchDeltic Trading Down 0.4 %

NASDAQ:PCH opened at $42.30 on Wednesday. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 202.10 and a beta of 1.14. PotlatchDeltic Co. has a 52 week low of $37.06 and a 52 week high of $50.04. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $43.54 and a 200 day moving average of $42.22.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, beating 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 analyst estimates of $241.35 million. During the same quarter in the prior year, the business posted $0.14 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that PotlatchDeltic Co. will post 0.11 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.26%. PotlatchDeltic’s payout ratio is 857.14%.

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.