SG Americas Securities LLC Purchases New Shares in PotlatchDeltic Co. (NASDAQ:PCH)

SG Americas Securities LLC acquired a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 26,219 shares of the real estate investment trust’s stock, valued at approximately $1,183,000.

Several other institutional investors also recently modified their holdings of PCH. Allspring Global Investments Holdings LLC grew its position in shares of PotlatchDeltic by 4.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 162,135 shares of the real estate investment trust’s stock worth $6,364,000 after buying an additional 7,567 shares during the period. Congress Asset Management Co. raised its stake in shares of PotlatchDeltic by 10.4% during the 4th quarter. Congress Asset Management Co. now owns 167,183 shares of the real estate investment trust’s stock worth $6,562,000 after purchasing an additional 15,779 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of PotlatchDeltic by 10.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 50,388 shares of the real estate investment trust’s stock worth $1,978,000 after purchasing an additional 4,893 shares in the last quarter. Peregrine Capital Management LLC raised its stake in PotlatchDeltic by 34.5% in the 4th quarter. Peregrine Capital Management LLC now owns 136,782 shares of the real estate investment trust’s stock valued at $5,369,000 after acquiring an additional 35,102 shares during the period. Finally, New York State Common Retirement Fund raised its stake in PotlatchDeltic by 17.3% in the 4th quarter. New York State Common Retirement Fund now owns 271,698 shares of the real estate investment trust’s stock valued at $10,664,000 after acquiring an additional 40,058 shares during the period. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on PCH. Citigroup reaffirmed a “buy” rating and issued a $47.00 price objective (down from $49.00) on shares of PotlatchDeltic in a report on Tuesday, June 3rd. Truist Financial decreased their target price on PotlatchDeltic from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.57.

PotlatchDeltic Price Performance

PotlatchDeltic stock opened at $38.66 on Tuesday. The stock’s 50 day moving average is $39.09 and its 200 day moving average is $41.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.08. The firm has a market cap of $3.04 billion, a P/E ratio of 138.07 and a beta of 1.17. PotlatchDeltic Co. has a one year low of $36.82 and a one year high of $48.12.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.13. The firm had revenue of $268.26 million for the quarter, compared to analyst estimates of $243.68 million. PotlatchDeltic had a return on equity of 1.05% and a net margin of 2.06%. PotlatchDeltic’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, research analysts expect that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend is Friday, June 6th. PotlatchDeltic’s payout ratio is 295.08%.

PotlatchDeltic Company Profile

PotlatchDeltic Corporation (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.