PotlatchDeltic Co. (NASDAQ:PCH) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,751 shares of the real estate investment trust’s stock after buying an additional 2,000 shares during the period. Rhumbline Advisers owned about 0.37% of PotlatchDeltic worth $14,541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PCH. Norges Bank purchased a new stake in shares of PotlatchDeltic during the fourth quarter valued at approximately $129,467,000. Vanguard Group Inc. increased its stake in shares of PotlatchDeltic by 14.5% in the third quarter. Vanguard Group Inc. now owns 11,820,414 shares of the real estate investment trust’s stock worth $485,110,000 after buying an additional 1,497,553 shares during the last quarter. Inclusive Capital Partners L.P. increased its stake in PotlatchDeltic by 21.7% during the fourth quarter. Inclusive Capital Partners L.P. now owns 2,368,345 shares of the real estate investment trust’s stock valued at $104,183,000 after purchasing an additional 422,885 shares during the last quarter. State Street Corp increased its stake in PotlatchDeltic by 19.3% during the third quarter. State Street Corp now owns 2,607,726 shares of the real estate investment trust’s stock valued at $107,021,000 after purchasing an additional 421,565 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new stake in PotlatchDeltic during the fourth quarter valued at $15,152,000. 85.76% of the stock is owned by institutional investors and hedge funds.

PotlatchDeltic Stock Performance

PCH stock opened at $47.29 on Friday. The company has a market capitalization of $3.78 billion, a P/E ratio of 40.42 and a beta of 1.23. The company has a 50-day simple moving average of $51.06 and a 200 day simple moving average of $48.83. PotlatchDeltic Co. has a fifty-two week low of $39.10 and a fifty-two week high of $54.44. The company has a quick ratio of 2.99, a current ratio of 3.49 and a debt-to-equity ratio of 0.44.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $246.10 million during the quarter, compared to analyst estimates of $236.30 million. PotlatchDeltic had a return on equity of 3.78% and a net margin of 8.31%. The business’s revenue for the quarter was down 31.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.61 EPS. Sell-side analysts predict that PotlatchDeltic Co. will post 0.81 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Thursday, September 14th. PotlatchDeltic’s payout ratio is 153.85%.

Wall Street Analyst Weigh In

PCH has been the subject of several recent research reports. SpectralCast reiterated a “maintains” rating on shares of PotlatchDeltic in a research note on Wednesday, June 28th. Royal Bank of Canada downgraded shares of PotlatchDeltic from an “outperform” rating to a “sector perform” rating and set a $55.00 price target for the company. in a report on Wednesday, July 19th. Bank of America boosted their price target on shares of PotlatchDeltic from $50.00 to $57.00 in a report on Monday, July 10th. 1-800-FLOWERS.COM reissued a “maintains” rating on shares of PotlatchDeltic in a report on Wednesday, June 28th. Finally, StockNews.com assumed coverage on shares of PotlatchDeltic in a report on Thursday, August 17th. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, PotlatchDeltic currently has an average rating of “Hold” and an average target price of $53.50.

PotlatchDeltic Profile

PotlatchDeltic (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana. Mississippi and South Carolina. 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.