Comerica Bank Has $1.61 Million Stake in PotlatchDeltic Co. (NASDAQ:PCH)

Comerica Bank increased its position in PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 14.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,176 shares of the real estate investment trust’s stock after buying an additional 4,460 shares during the quarter. Comerica Bank owned 0.05% of PotlatchDeltic worth $1,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PCH. Accel Wealth Management acquired a new position in shares of PotlatchDeltic in the third quarter valued at approximately $27,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of PotlatchDeltic by 50.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 900 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 300 shares during the period. Wipfli Financial Advisors LLC acquired a new position in shares of PotlatchDeltic in the third quarter valued at approximately $43,000. EverSource Wealth Advisors LLC acquired a new position in shares of PotlatchDeltic in the second quarter valued at approximately $58,000. Finally, Parallel Advisors LLC increased its stake in shares of PotlatchDeltic by 144.1% in the second quarter. Parallel Advisors LLC now owns 1,662 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 981 shares during the period. Institutional investors and hedge funds own 80.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PCH. StockNews.com began coverage on shares of PotlatchDeltic in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Bank of America increased their price target on PotlatchDeltic from $53.00 to $55.00 in a report on Thursday, October 13th. DA Davidson cut their price target on PotlatchDeltic to $57.00 in a report on Thursday, October 27th. Finally, Royal Bank of Canada upgraded PotlatchDeltic from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $50.00 to $55.00 in a report on Tuesday, October 18th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, PotlatchDeltic has a consensus rating of “Moderate Buy” and a consensus target price of $56.60.

PotlatchDeltic Price Performance

Shares of PCH opened at $45.93 on Friday. PotlatchDeltic Co. has a 12-month low of $39.10 and a 12-month high of $58.13. The business’s fifty day moving average is $45.70 and its 200 day moving average is $45.49. 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 stock has a market cap of $3.71 billion, a P/E ratio of 8.68 and a beta of 1.14.

PotlatchDeltic (NASDAQ:PCH – Get Rating) last issued its 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. PotlatchDeltic had a return on equity of 20.34% and a net margin of 27.84%. The company had revenue of $306.69 million for the quarter, compared to analysts’ expectations of $298.09 million. During the same period last year, the business earned $0.92 EPS. PotlatchDeltic’s quarterly revenue was up 6.7% compared to the same quarter last year. Sell-side analysts anticipate that PotlatchDeltic Co. will post 4.94 earnings per share for the current fiscal year.

PotlatchDeltic Cuts Dividend

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

PotlatchDeltic Company Profile

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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.