PotlatchDeltic Co. (NASDAQ:PCH) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its position in shares of PotlatchDeltic Co. (NASDAQ:PCHGet Rating) by 30.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,047 shares of the real estate investment trust’s stock after selling 13,614 shares during the period. Truist Financial Corp’s holdings in PotlatchDeltic were worth $1,274,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Accel Wealth Management purchased a new stake in PotlatchDeltic during the 3rd quarter worth about $27,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in PotlatchDeltic by 50.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 900 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 300 shares during the period. Wipfli Financial Advisors LLC purchased a new stake in PotlatchDeltic during the 3rd quarter worth about $43,000. EverSource Wealth Advisors LLC purchased a new stake in PotlatchDeltic during the 2nd quarter worth about $58,000. Finally, Parallel Advisors LLC increased its holdings in PotlatchDeltic by 144.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,662 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 981 shares during the period. Institutional investors and hedge funds own 80.36% of the company’s stock.

PotlatchDeltic Trading Up 0.7 %

NASDAQ:PCH opened at $44.36 on Thursday. The stock’s 50 day moving average price is $45.81 and its 200 day moving average price is $45.48. The company has a market capitalization of $3.58 billion, a PE ratio of 8.39 and a beta of 1.14. The company has a quick ratio of 3.59, a current ratio of 3.99 and a debt-to-equity ratio of 0.41. PotlatchDeltic Co. has a 52-week low of $39.10 and a 52-week high of $58.13.

PotlatchDeltic (NASDAQ:PCHGet Rating) last released its quarterly earnings results on Monday, October 24th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. The firm had revenue of $306.69 million for the quarter, compared to the consensus estimate of $298.09 million. PotlatchDeltic had a return on equity of 20.34% and a net margin of 27.84%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. On average, research analysts anticipate that PotlatchDeltic Co. will post 4.94 EPS for the current year.

PotlatchDeltic Cuts Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PCH. DA Davidson cut their price target on PotlatchDeltic to $57.00 in a report on Thursday, October 27th. StockNews.com began coverage on PotlatchDeltic in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Royal Bank of Canada upgraded PotlatchDeltic from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $55.00 in a report on Tuesday, October 18th. Finally, Bank of America increased their price objective on PotlatchDeltic from $53.00 to $55.00 in a 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.60.

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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