Congress Asset Management Co. Sells 10,000 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Congress Asset Management Co. lessened its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,183 shares of the real estate investment trust's stock after selling 10,000 shares during the period. Congress Asset Management Co. owned 0.20% of PotlatchDeltic worth $7,092,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP lifted its holdings in shares of PotlatchDeltic by 224.2% during the 4th quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 482 shares during the period. Sterling Capital Management LLC increased its stake in PotlatchDeltic by 806.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,503 shares of the real estate investment trust's stock valued at $98,000 after acquiring an additional 2,227 shares during the last quarter. GeoWealth Management LLC acquired a new position in PotlatchDeltic during the fourth quarter valued at approximately $131,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in PotlatchDeltic during the fourth quarter worth $150,000. Finally, Quantinno Capital Management LP bought a new stake in PotlatchDeltic during the fourth quarter worth $217,000. 86.06% of the stock is owned by institutional investors and hedge funds.

PotlatchDeltic Trading Down 1.0%

Shares of NASDAQ:PCH traded down $0.39 during midday trading on Wednesday, hitting $39.80. 518,753 shares of the stock were exchanged, compared to its average volume of 475,682. The business's 50-day moving average price is $39.06 and its 200 day moving average price is $41.80. PotlatchDeltic Co. has a 12 month low of $36.82 and a 12 month high of $48.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.08 and a current ratio of 1.49. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 142.15 and a beta of 1.17.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last posted its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.13. PotlatchDeltic had a net margin of 2.06% and a return on equity of 1.05%. The firm had revenue of $268.26 million for the quarter, compared to analyst estimates of $243.68 million. The firm's revenue was up 17.6% compared to the same quarter last year. Analysts predict that PotlatchDeltic Co. will post 0.8 earnings per share for the current year.

PotlatchDeltic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $0.45 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.52%. PotlatchDeltic's dividend payout ratio (DPR) is presently 295.08%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PCH shares. Citigroup reiterated a "buy" rating and issued a $47.00 price target (down previously from $49.00) on shares of PotlatchDeltic in a research note on Tuesday, June 3rd. Truist Financial reduced their price objective on PotlatchDeltic from $44.00 to $42.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $48.57.

PotlatchDeltic 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.