Sumitomo Mitsui Trust Group Inc. Sells 4,488 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Sumitomo Mitsui Trust Group Inc. reduced its stake in PotlatchDeltic Co. (NASDAQ:PCH) by 6.8% during the 3rd quarter, Holdings Channel reports. The firm owned 61,927 shares of the real estate investment trust’s stock after selling 4,488 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in PotlatchDeltic were worth $2,790,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its holdings 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 acquiring an additional 556 shares in the last quarter. Independence Bank of Kentucky bought a new position in PotlatchDeltic during the second quarter worth about $51,000. Beach Investment Counsel Inc. PA bought a new position in PotlatchDeltic during the second quarter worth about $59,000. Quarry LP bought a new position in PotlatchDeltic during the second quarter worth about $82,000. Finally, Quest Partners LLC bought a new position in PotlatchDeltic during the second quarter worth about $85,000. 86.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PCH has been the topic of several recent analyst reports. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Thursday, September 12th. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and issued a $50.00 price target on shares of PotlatchDeltic in a report on Wednesday, October 30th. Finally, Truist Financial boosted their price target on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PotlatchDeltic presently has a consensus rating of “Hold” and a consensus target price of $48.67.

PotlatchDeltic Price Performance

NASDAQ:PCH opened at $41.89 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.24. The stock’s 50-day simple moving average is $43.37 and its 200 day simple moving average is $42.29. The company has a market cap of $3.30 billion, a P/E ratio of 199.48 and a beta of 1.14. PotlatchDeltic Co. has a 52-week low of $37.06 and a 52-week high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The business had revenue of $255.10 million for the quarter, compared to the consensus estimate of $241.35 million. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. PotlatchDeltic’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 earnings per share. As a group, sell-side analysts forecast that PotlatchDeltic Co. will post 0.15 EPS for the current fiscal year.

PotlatchDeltic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Friday, September 13th. PotlatchDeltic’s dividend payout ratio is currently 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.