Bank of New York Mellon Corp Sells 2,224 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Bank of New York Mellon Corp cut its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 0.2% in the second quarter, Holdings Channel.com reports. The firm owned 1,136,842 shares of the real estate investment trust’s stock after selling 2,224 shares during the quarter. Bank of New York Mellon Corp’s holdings in PotlatchDeltic were worth $44,780,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in PotlatchDeltic by 370.7% in the first 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 in the second quarter worth about $51,000. Beach Investment Counsel Inc. PA purchased a new position in PotlatchDeltic in the 2nd quarter worth about $59,000. Park Place Capital Corp bought a new stake in PotlatchDeltic during the 2nd quarter valued at about $105,000. Finally, Cetera Advisors LLC purchased a new stake in PotlatchDeltic in the 1st quarter valued at about $203,000. 86.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Ashlee Townsend Cribb sold 4,114 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were 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 of the company’s stock, valued at $1,251,871.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PCH. Truist Financial reduced their target price on shares of PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada increased their price target on PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, PotlatchDeltic currently has an average rating of “Hold” and an average price target of $46.00.

PotlatchDeltic Price Performance

NASDAQ PCH opened at $43.46 on Monday. The company has a market cap of $3.46 billion, a PE ratio of 76.25, a P/E/G ratio of 127.08 and a beta of 1.12. The firm’s 50 day moving average price is $41.15 and its 200-day moving average price is $42.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.29. PotlatchDeltic Co. has a 52-week low of $37.06 and a 52-week high of $50.04.

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

PotlatchDeltic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.80 annualized dividend and a yield of 4.14%. PotlatchDeltic’s dividend payout ratio (DPR) is presently 315.79%.

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.