California Public Employees Retirement System Boosts Position in PotlatchDeltic Co. (NASDAQ:PCH)

California Public Employees Retirement System boosted its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCHGet Rating) by 0.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 158,396 shares of the real estate investment trust’s stock after buying an additional 646 shares during the quarter. California Public Employees Retirement System owned 0.23% of PotlatchDeltic worth $7,000,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Private Advisor Group LLC purchased a new position in shares of PotlatchDeltic during the 2nd quarter valued at approximately $792,000. Texas Permanent School Fund increased its holdings in shares of PotlatchDeltic by 2.4% during the 2nd quarter. Texas Permanent School Fund now owns 50,141 shares of the real estate investment trust’s stock valued at $2,216,000 after purchasing an additional 1,178 shares in the last quarter. Liberty Mutual Group Asset Management Inc. purchased a new position in shares of PotlatchDeltic during the 1st quarter valued at approximately $3,770,000. Arnhold LLC increased its holdings in shares of PotlatchDeltic by 27.4% during the 1st quarter. Arnhold LLC now owns 29,723 shares of the real estate investment trust’s stock valued at $1,567,000 after purchasing an additional 6,401 shares in the last quarter. Finally, State of Michigan Retirement System increased its holdings in shares of PotlatchDeltic by 3.2% during the 1st quarter. State of Michigan Retirement System now owns 17,531 shares of the real estate investment trust’s stock valued at $924,000 after purchasing an additional 538 shares in the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

PotlatchDeltic Trading Up 0.1 %

Shares of PCH opened at $48.20 on Thursday. PotlatchDeltic Co. has a 52-week low of $39.10 and a 52-week high of $61.51. The company has a quick ratio of 3.59, a current ratio of 3.99 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average is $43.98 and its two-hundred day moving average is $46.76. The stock has a market cap of $3.89 billion, a PE ratio of 9.11 and a beta of 1.14.

PotlatchDeltic (NASDAQ:PCHGet Rating) last announced its earnings results 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. PotlatchDeltic had a net margin of 27.84% and a return on equity of 20.34%. The company had revenue of $306.69 million for the quarter, compared to analysts’ expectations of $298.09 million. During the same quarter in the previous year, the company posted $0.92 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. Research analysts forecast that PotlatchDeltic Co. will post 4.99 earnings per share for the current fiscal year.

PotlatchDeltic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Tuesday, September 20th were paid a dividend of $0.44 per share. The ex-dividend date was Monday, September 19th. This represents a $1.76 annualized dividend and a yield of 3.65%. PotlatchDeltic’s dividend payout ratio (DPR) is presently 33.27%.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PCH. DA Davidson cut their target price on shares of PotlatchDeltic to $57.00 in a report on Thursday, October 27th. Bank of America lifted their price target on shares of PotlatchDeltic from $53.00 to $55.00 in a research note on Thursday, October 13th. Truist Financial lifted their price target on shares of PotlatchDeltic to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. StockNews.com initiated coverage on shares of PotlatchDeltic in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada raised shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $50.00 to $55.00 in a research note on Tuesday, October 18th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.60.

Insiders Place Their Bets

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

PotlatchDeltic 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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