Arizona State Retirement System lifted its holdings in PotlatchDeltic (NASDAQ:PCH) by 27.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,229 shares of the real estate investment trust’s stock after buying an additional 6,219 shares during the period. Arizona State Retirement System owned approximately 0.07% of PotlatchDeltic worth $1,459,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital One National Association raised its holdings in shares of PotlatchDeltic by 279.5% in the 4th quarter. Capital One National Association now owns 40,432 shares of the real estate investment trust’s stock worth $2,018,000 after purchasing an additional 29,777 shares during the period. American International Group Inc. raised its holdings in shares of PotlatchDeltic by 2.7% in the 3rd quarter. American International Group Inc. now owns 110,213 shares of the real estate investment trust’s stock worth $5,621,000 after purchasing an additional 2,949 shares during the period. Invictus RG raised its holdings in shares of PotlatchDeltic by 188.9% in the 3rd quarter. Invictus RG now owns 7,009 shares of the real estate investment trust’s stock worth $357,000 after purchasing an additional 4,583 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of PotlatchDeltic by 4.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 256,874 shares of the real estate investment trust’s stock worth $13,101,000 after purchasing an additional 10,020 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of PotlatchDeltic by 32.8% in the 4th quarter. SG Americas Securities LLC now owns 8,521 shares of the real estate investment trust’s stock worth $425,000 after purchasing an additional 2,104 shares during the period. Hedge funds and other institutional investors own 89.84% of the company’s stock.
A number of equities research analysts recently commented on PCH shares. BidaskClub raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Saturday, January 13th. Zacks Investment Research cut shares of PotlatchDeltic from a “buy” rating to a “hold” rating in a report on Friday, January 5th. BMO Capital Markets lifted their price target on shares of PotlatchDeltic from $42.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday, February 12th. Raymond James Financial raised shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $54.00 price target on the stock in a report on Monday, January 8th. Finally, Bank of America raised shares of PotlatchDeltic from an “underperform” rating to a “neutral” rating and set a $54.00 price target on the stock in a report on Tuesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $51.17.
In other news, VP William R. Dereu sold 3,690 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $51.83, for a total value of $191,252.70. Following the transaction, the vice president now owns 26,895 shares of the company’s stock, valued at $1,393,967.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas J. Temple sold 2,401 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $54.41, for a total transaction of $130,638.41. The disclosure for this sale can be found here. Insiders have sold a total of 173,669 shares of company stock worth $9,001,448 in the last three months. Insiders own 1.52% of the company’s stock.
PCH stock traded down $0.10 during midday trading on Friday, reaching $52.65. 571,664 shares of the company’s stock traded hands, compared to its average volume of 602,280. The company has a debt-to-equity ratio of 2.79, a current ratio of 2.58 and a quick ratio of 1.91. PotlatchDeltic has a 52 week low of $43.15 and a 52 week high of $56.35. The stock has a market capitalization of $2,142.23, a price-to-earnings ratio of 21.71, a PEG ratio of 3.54 and a beta of 1.31.
PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, January 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.06). PotlatchDeltic had a net margin of 12.74% and a return on equity of 55.47%. The business had revenue of $175.24 million for the quarter, compared to the consensus estimate of $170.54 million. equities research analysts anticipate that PotlatchDeltic will post 2.98 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Wednesday, March 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, March 6th. This represents a $1.60 dividend on an annualized basis and a yield of 3.04%. PotlatchDeltic’s payout ratio is 67.80%.
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PotlatchDeltic Corporation (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland land sales program.
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