D. E. Shaw & Co. Inc. Acquires 35,664 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

D. E. Shaw & Co. Inc. raised its stake in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 43.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 118,514 shares of the real estate investment trust's stock after buying an additional 35,664 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.15% of PotlatchDeltic worth $4,652,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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 valued at $27,000 after buying an additional 482 shares during the last quarter. Fifth Third Bancorp increased its holdings in PotlatchDeltic by 259.7% in the fourth quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust's stock worth $44,000 after buying an additional 818 shares during the last quarter. Sterling Capital Management LLC raised its position in PotlatchDeltic by 806.9% during 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 in the last quarter. GeoWealth Management LLC acquired a new stake in PotlatchDeltic in the fourth quarter valued at approximately $131,000. Finally, KBC Group NV grew its position in PotlatchDeltic by 67.3% in the fourth quarter. KBC Group NV now owns 3,685 shares of the real estate investment trust's stock worth $145,000 after acquiring an additional 1,483 shares in the last quarter. Hedge funds and other institutional investors own 86.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Truist Financial decreased their price target on PotlatchDeltic from $44.00 to $42.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Finally, DA Davidson set a $54.00 target price on PotlatchDeltic in a report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, PotlatchDeltic has an average rating of "Moderate Buy" and an average price target of $48.43.

PotlatchDeltic Stock Performance

Shares of NASDAQ PCH traded down $1.21 during mid-day trading on Wednesday, hitting $38.33. The company had a trading volume of 582,306 shares, compared to its average volume of 464,568. PotlatchDeltic Co. has a 12 month low of $36.82 and a 12 month high of $48.12. The firm has a market cap of $3.01 billion, a P/E ratio of 136.89 and a beta of 1.16. The business's 50-day simple moving average is $40.86 and its 200-day simple moving average is $42.13. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.08.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.13. The company 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%. The company's revenue was up 17.6% compared to the same quarter last year. As a group, analysts predict that PotlatchDeltic Co. will post 0.8 earnings per share for the current fiscal 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 $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.70%. The ex-dividend date is Friday, June 6th. PotlatchDeltic's dividend payout ratio (DPR) is presently 295.08%.

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.