Lazard Asset Management LLC Trims Stock Position in PotlatchDeltic Co. (NASDAQ:PCH)

Lazard Asset Management LLC decreased its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,546 shares of the real estate investment trust's stock after selling 9,677 shares during the quarter. Lazard Asset Management LLC owned about 0.07% of PotlatchDeltic worth $2,101,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCH. Barclays PLC grew its stake in shares of PotlatchDeltic by 147.7% in the third quarter. Barclays PLC now owns 163,784 shares of the real estate investment trust's stock valued at $7,378,000 after buying an additional 97,655 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in shares of PotlatchDeltic in the fourth quarter valued at $1,773,000. Procyon Advisors LLC grew its stake in shares of PotlatchDeltic by 37.3% in the fourth quarter. Procyon Advisors LLC now owns 9,241 shares of the real estate investment trust's stock valued at $363,000 after buying an additional 2,511 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of PotlatchDeltic by 259.7% in the fourth quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 818 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of PotlatchDeltic by 67.3% in the fourth quarter. KBC Group NV now owns 3,685 shares of the real estate investment trust's stock valued at $145,000 after buying an additional 1,483 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

PotlatchDeltic Stock Down 3.1%

NASDAQ PCH traded down $1.21 during trading on Wednesday, reaching $38.33. 582,306 shares of the company's stock were exchanged, compared to its average volume of 464,568. The stock has a market cap of $3.01 billion, a P/E ratio of 136.89 and a beta of 1.16. 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 company has a 50 day moving average price of $40.86 and a two-hundred day moving average price of $42.13. PotlatchDeltic Co. has a 1 year low of $36.82 and a 1 year high of $48.12.

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, beating the consensus estimate of $0.20 by $0.13. PotlatchDeltic had a return on equity of 1.05% and a net margin of 2.06%. The business had revenue of $268.26 million during the quarter, compared to the consensus estimate of $243.68 million. PotlatchDeltic's revenue was up 17.6% compared to the same quarter last year. On average, equities research analysts anticipate that PotlatchDeltic Co. will post 0.8 EPS for the current fiscal year.

PotlatchDeltic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.70%. The ex-dividend date is Friday, June 6th. PotlatchDeltic's payout ratio is currently 295.08%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PCH. Truist Financial dropped their price objective on PotlatchDeltic from $44.00 to $42.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. DA Davidson set a $54.00 price objective on PotlatchDeltic in a research note on Wednesday, January 29th. Finally, StockNews.com raised PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, PotlatchDeltic currently has a consensus rating of "Moderate Buy" and an average price target of $48.43.

About PotlatchDeltic

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.