PotlatchDeltic Co. (NASDAQ:PCH) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE lifted its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 745,033 shares of the real estate investment trust's stock after purchasing an additional 73,781 shares during the quarter. Bank of America Corp DE owned about 0.95% of PotlatchDeltic worth $29,243,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. EagleClaw Capital Managment LLC boosted its stake in shares of PotlatchDeltic by 0.5% during the 4th quarter. EagleClaw Capital Managment LLC now owns 62,225 shares of the real estate investment trust's stock worth $2,442,000 after purchasing an additional 300 shares during the last quarter. Capital Square LLC lifted its position in PotlatchDeltic by 0.8% during the fourth quarter. Capital Square LLC now owns 41,030 shares of the real estate investment trust's stock valued at $1,711,000 after buying an additional 337 shares in the last quarter. Xponance Inc. lifted its position in PotlatchDeltic by 4.3% during the fourth quarter. Xponance Inc. now owns 10,706 shares of the real estate investment trust's stock valued at $420,000 after buying an additional 446 shares in the last quarter. Quarry LP lifted its position in PotlatchDeltic by 224.2% during the fourth 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 in the last quarter. Finally, Fiduciary Counselling Inc. lifted its position in PotlatchDeltic by 0.5% during the fourth quarter. Fiduciary Counselling Inc. now owns 116,716 shares of the real estate investment trust's stock valued at $4,581,000 after buying an additional 607 shares in the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PCH has been the topic of a number of analyst reports. DA Davidson set a $54.00 price objective on shares of PotlatchDeltic in a research note on Wednesday, January 29th. StockNews.com upgraded shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Finally, Truist Financial dropped their price objective on shares of 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.43.

PotlatchDeltic Stock Up 0.7%

Shares of NASDAQ:PCH opened at $40.37 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $41.03 and a 200 day simple moving average of $42.16. The firm has a market cap of $3.17 billion, a PE ratio of 144.18 and a beta of 1.16. PotlatchDeltic Co. has a 12-month low of $36.82 and a 12-month high of $48.12.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) 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, topping analysts' consensus estimates of $0.20 by $0.13. The business had revenue of $268.26 million during the quarter, compared to analyst estimates of $243.68 million. PotlatchDeltic had a net margin of 2.06% and a return on equity of 1.05%. The company's revenue for the quarter was up 17.6% on a year-over-year basis. On average, equities research analysts anticipate that PotlatchDeltic Co. will post 0.8 EPS for the current fiscal year.

PotlatchDeltic Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Friday, June 6th. PotlatchDeltic's dividend payout ratio is presently 295.08%.

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.

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