Swiss National Bank Acquires 4,100 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Swiss National Bank grew its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCHGet Rating) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,722 shares of the real estate investment trust’s stock after purchasing an additional 4,100 shares during the quarter. Swiss National Bank owned about 0.23% of PotlatchDeltic worth $7,191,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PCH. Vanguard Group Inc. raised its holdings in shares of PotlatchDeltic by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 10,503,075 shares of the real estate investment trust’s stock valued at $553,827,000 after purchasing an additional 319,445 shares in the last quarter. BlackRock Inc. lifted its position in PotlatchDeltic by 3.0% during the 1st quarter. BlackRock Inc. now owns 8,962,038 shares of the real estate investment trust’s stock worth $472,566,000 after acquiring an additional 258,490 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in PotlatchDeltic by 7,320.5% during the 1st quarter. Loomis Sayles & Co. L P now owns 171,858 shares of the real estate investment trust’s stock worth $9,062,000 after acquiring an additional 169,542 shares during the last quarter. Panagora Asset Management Inc. lifted its position in PotlatchDeltic by 94.0% during the 1st quarter. Panagora Asset Management Inc. now owns 267,339 shares of the real estate investment trust’s stock worth $14,097,000 after acquiring an additional 129,564 shares during the last quarter. Finally, GRS Advisors LLC acquired a new position in PotlatchDeltic during the 1st quarter worth $6,263,000. Institutional investors own 80.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PCH. Bank of America boosted their target price on shares of PotlatchDeltic from $53.00 to $55.00 in a research report on Thursday, October 13th. Raymond James cut their target price on shares of PotlatchDeltic from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research report on Tuesday, August 16th. Royal Bank of Canada raised shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $50.00 to $55.00 in a research report on Tuesday, October 18th. Truist Financial boosted their target price on shares of PotlatchDeltic to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Finally, StockNews.com initiated coverage on shares of PotlatchDeltic in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, PotlatchDeltic currently has an average rating of “Moderate Buy” and a consensus target price of $56.60.

Insider Activity at PotlatchDeltic

In related news, CEO Eric J. Cremers sold 11,444 shares of the company’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $40.59, for a total value of $464,511.96. Following the sale, the chief executive officer now owns 163,151 shares of the company’s stock, valued at $6,622,299.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

PotlatchDeltic Stock Performance

NASDAQ:PCH opened at $48.17 on Wednesday. The firm’s 50-day moving average is $43.91 and its 200-day moving average is $46.75. PotlatchDeltic Co. has a 52-week low of $39.10 and a 52-week high of $61.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.59 and a current ratio of 3.99. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 9.11 and a beta of 1.14.

PotlatchDeltic (NASDAQ:PCHGet Rating) last posted its quarterly earnings data on Monday, October 24th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.10. The company had revenue of $306.69 million for the quarter, compared to the consensus estimate of $298.09 million. PotlatchDeltic had a net margin of 27.84% and a return on equity of 20.34%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 EPS. Equities research analysts anticipate that PotlatchDeltic Co. will post 4.99 earnings per share for the current year.

PotlatchDeltic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Tuesday, September 20th were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, September 19th. This represents a $1.76 dividend on an annualized basis and a yield of 3.65%. PotlatchDeltic’s payout ratio is currently 33.27%.

PotlatchDeltic announced that its board has authorized a share buyback plan on Wednesday, August 31st that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 6.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

PotlatchDeltic Company Profile

(Get Rating)

PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns 1.8 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 residential and commercial real estate development business and a rural timberland sales program.

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Institutional Ownership by Quarter for PotlatchDeltic (NASDAQ:PCH)

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