Hancock Whitney Corp Sells 55,574 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Hancock Whitney Corp lessened its stake in PotlatchDeltic Co. (NASDAQ:PCHGet Rating) by 89.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,531 shares of the real estate investment trust’s stock after selling 55,574 shares during the quarter. Hancock Whitney Corp’s holdings in PotlatchDeltic were worth $268,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PCH. Peregrine Capital Management LLC bought a new stake in PotlatchDeltic during the 3rd quarter valued at $4,013,000. Wipfli Financial Advisors LLC bought a new stake in PotlatchDeltic during the 3rd quarter valued at $43,000. Denali Advisors LLC raised its holdings in PotlatchDeltic by 267.1% during the 3rd quarter. Denali Advisors LLC now owns 30,100 shares of the real estate investment trust’s stock valued at $1,235,000 after acquiring an additional 21,900 shares during the period. Texas Permanent School Fund raised its holdings in PotlatchDeltic by 15.6% during the 3rd quarter. Texas Permanent School Fund now owns 57,970 shares of the real estate investment trust’s stock valued at $2,379,000 after acquiring an additional 7,829 shares during the period. Finally, Raymond James & Associates raised its holdings in PotlatchDeltic by 13.9% during the 3rd quarter. Raymond James & Associates now owns 408,487 shares of the real estate investment trust’s stock valued at $16,764,000 after acquiring an additional 49,790 shares during the period. Institutional investors own 80.36% of the company’s stock.

PotlatchDeltic Stock Up 3.0 %

Shares of NASDAQ:PCH opened at $44.52 on Monday. PotlatchDeltic Co. has a 52-week low of $39.10 and a 52-week high of $59.93. The firm has a fifty day moving average of $45.86 and a 200 day moving average of $45.52. The firm has a market capitalization of $3.60 billion, a PE ratio of 8.42 and a beta of 1.14. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.59 and a current ratio of 3.99.

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 during the quarter, compared to analyst estimates of $298.09 million. During the same period in the previous year, the business earned $0.92 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, research analysts anticipate that PotlatchDeltic Co. will post 4.94 EPS for the current fiscal year.

PotlatchDeltic Cuts Dividend

The business also recently announced a special dividend, which was paid on Friday, December 30th. Investors of record on Wednesday, December 21st were given a $0.95 dividend. The ex-dividend date was Tuesday, December 20th. This represents a yield of 4%. PotlatchDeltic’s dividend payout ratio (DPR) is presently 34.03%.

Analysts Set New Price Targets

PCH has been the topic of a number of analyst reports. DA Davidson lowered their target price on shares of PotlatchDeltic to $57.00 in a report on Thursday, October 27th. Royal Bank of Canada upgraded shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $50.00 to $55.00 in a research report on Tuesday, October 18th. StockNews.com assumed coverage on shares of PotlatchDeltic in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Bank of America boosted their price target on shares of PotlatchDeltic from $53.00 to $55.00 in a research report on Thursday, October 13th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.60.

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.

Featured Stories

Institutional Ownership by Quarter for PotlatchDeltic (NASDAQ:PCH)

Receive News & Ratings for PotlatchDeltic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PotlatchDeltic and related companies with MarketBeat.com's FREE daily email newsletter.