Retirement Systems of Alabama Sells 145,330 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Retirement Systems of Alabama cut its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 59.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,132 shares of the real estate investment trust’s stock after selling 145,330 shares during the period. Retirement Systems of Alabama owned about 0.12% of PotlatchDeltic worth $3,865,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Bessemer Group Inc. increased its position in shares of PotlatchDeltic by 370.7% during the 1st quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 556 shares during the last quarter. Beach Investment Counsel Inc. PA purchased a new stake in shares of PotlatchDeltic during the 2nd quarter valued at $59,000. Park Place Capital Corp purchased a new stake in PotlatchDeltic in the 2nd quarter worth about $105,000. Cetera Advisors LLC purchased a new stake in PotlatchDeltic in the 1st quarter worth about $203,000. Finally, BTC Capital Management Inc. purchased a new stake in PotlatchDeltic in the 1st quarter worth about $277,000. 86.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Royal Bank of Canada lifted their price objective on PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Finally, Truist Financial reduced their target price on PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $46.00.

Insider Activity

In other news, VP Ashlee Townsend Cribb sold 4,114 shares of PotlatchDeltic stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $43.11, for a total transaction of $177,354.54. Following the completion of the sale, the vice president now owns 29,039 shares in the company, valued at approximately $1,251,871.29. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

PotlatchDeltic Stock Down 1.5 %

PCH stock opened at $42.96 on Wednesday. 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 firm has a market capitalization of $3.42 billion, a PE ratio of 75.37, a PEG ratio of 121.70 and a beta of 1.12. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $50.04. The stock has a 50-day simple moving average of $40.96 and a two-hundred day simple moving average of $42.76.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The firm had revenue of $320.70 million during the quarter, compared to the consensus estimate of $305.01 million. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter last year, the company posted $0.06 EPS. On average, equities analysts predict that PotlatchDeltic Co. will post 0.04 EPS for the current fiscal year.

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.