State Street Corp Decreases Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

State Street Corp reduced its position in PotlatchDeltic Co. (NASDAQ:PCH) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,729,694 shares of the real estate investment trust’s stock after selling 141,514 shares during the period. State Street Corp’s holdings in PotlatchDeltic were worth $122,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. MQS Management LLC bought a new stake in shares of PotlatchDeltic during the 3rd quarter valued at $771,000. Renaissance Technologies LLC grew its holdings in PotlatchDeltic by 2,054.5% during the second quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust’s stock valued at $4,053,000 after purchasing an additional 98,123 shares during the period. Quest Partners LLC raised its stake in shares of PotlatchDeltic by 872.1% in the third quarter. Quest Partners LLC now owns 20,997 shares of the real estate investment trust’s stock worth $946,000 after buying an additional 18,837 shares during the period. Foresight Group Ltd Liability Partnership lifted its position in shares of PotlatchDeltic by 72.7% during the 2nd quarter. Foresight Group Ltd Liability Partnership now owns 84,314 shares of the real estate investment trust’s stock valued at $3,321,000 after buying an additional 35,494 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of PotlatchDeltic by 4,404.9% during the 3rd quarter. International Assets Investment Management LLC now owns 20,092 shares of the real estate investment trust’s stock valued at $905,000 after acquiring an additional 19,646 shares during the period. Institutional investors own 86.06% of the company’s stock.

Analyst Ratings Changes

PCH has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 price target on shares of PotlatchDeltic in a report on Wednesday, October 30th. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Thursday, September 12th. BMO Capital Markets upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price objective on the stock in a research report on Friday, December 6th. Finally, Truist Financial increased their target price on PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, PotlatchDeltic has an average rating of “Moderate Buy” and a consensus price target of $49.25.

PotlatchDeltic Stock Performance

Shares of NASDAQ PCH opened at $42.71 on Friday. The company has a market cap of $3.36 billion, a P/E ratio of 203.38 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 debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.24. The firm’s fifty day moving average is $42.90 and its two-hundred day moving average is $42.35.

PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (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 for the quarter, compared to analysts’ expectations of $241.35 million. During the same period in the previous year, the firm posted $0.14 earnings per share. The business’s revenue was down 3.9% compared to the same quarter last year. As a group, analysts anticipate that PotlatchDeltic Co. will post 0.15 EPS for the current fiscal year.

PotlatchDeltic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.21%. PotlatchDeltic’s dividend payout ratio is currently 857.14%.

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.