ProShare Advisors LLC Sells 3,742 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

ProShare Advisors LLC lessened its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 20.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 14,357 shares of the real estate investment trust’s stock after selling 3,742 shares during the quarter. ProShare Advisors LLC’s holdings in PotlatchDeltic were worth $566,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PCH. Bessemer Group Inc. boosted 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 valued at $33,000 after acquiring an additional 556 shares during the period. Independence Bank of Kentucky bought a new stake in shares of PotlatchDeltic during the second quarter worth $51,000. Beach Investment Counsel Inc. PA purchased a new stake in shares of PotlatchDeltic during the second quarter valued at $59,000. Quest Partners LLC bought a new position in shares of PotlatchDeltic in the second quarter worth about $85,000. Finally, Park Place Capital Corp purchased a new position in PotlatchDeltic in the 2nd quarter worth about $105,000. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Stock Down 0.2 %

PotlatchDeltic stock opened at $45.13 on Monday. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $50.04. The business has a fifty day moving average of $43.13 and a two-hundred day moving average of $42.59. The firm has a market cap of $3.59 billion, a P/E ratio of 79.18 and a beta of 1.13. The company has a quick ratio of 1.00, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The firm had revenue of $320.70 million during the quarter, compared to analysts’ expectations of $305.01 million. During the same period in the prior year, the business posted $0.06 EPS. The firm’s quarterly revenue was up 30.3% on a year-over-year basis. On average, analysts forecast that PotlatchDeltic Co. will post 0.02 earnings per share for the current fiscal year.

PotlatchDeltic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend is Friday, September 13th. PotlatchDeltic’s payout ratio is currently 315.79%.

Analyst Ratings Changes

Several equities research analysts have issued reports on PCH shares. Royal Bank of Canada boosted their price objective on shares of PotlatchDeltic from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Truist Financial dropped their price objective on PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Thursday, September 12th. Finally, StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $47.67.

Insider Buying and Selling

In other PotlatchDeltic news, VP Ashlee Townsend Cribb sold 4,114 shares of PotlatchDeltic stock in a transaction on Monday, July 29th. The shares were sold at an average price of $43.11, for a total value of $177,354.54. Following the transaction, the vice president now directly 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 through the SEC website. 2.00% of the stock is currently owned by company insiders.

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.