Bank of America Corp DE Buys 73,781 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Bank of America Corp DE increased its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 745,033 shares of the real estate investment trust's stock after purchasing an additional 73,781 shares during the period. Bank of America Corp DE owned approximately 0.95% of PotlatchDeltic worth $29,243,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. EagleClaw Capital Managment LLC raised its holdings in shares of PotlatchDeltic by 0.5% during the fourth quarter. EagleClaw Capital Managment LLC now owns 62,225 shares of the real estate investment trust's stock valued at $2,442,000 after purchasing an additional 300 shares during the last quarter. Capital Square LLC increased its holdings 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 during the last quarter. Xponance Inc. increased its holdings 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 during the last quarter. Quarry LP increased its holdings 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 during the last quarter. Finally, Fiduciary Counselling Inc. increased its holdings 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 during the last quarter. 86.06% of the stock is owned by hedge funds and other institutional investors.

PotlatchDeltic Price Performance

Shares of PCH traded down $0.11 during mid-day trading on Friday, reaching $38.28. The stock had a trading volume of 540,759 shares, compared to its average volume of 467,927. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 136.71 and a beta of 1.16. PotlatchDeltic Co. has a 12 month low of $36.82 and a 12 month high of $48.12. The business has a fifty day moving average of $40.44 and a 200 day moving average of $42.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.08 and a current ratio of 1.49.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last posted its quarterly 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. 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%. PotlatchDeltic's revenue was up 17.6% on a year-over-year basis. Equities analysts predict that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.70%. PotlatchDeltic's dividend payout ratio is 295.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PCH. Wall Street Zen raised shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Truist Financial reduced their target price on shares of PotlatchDeltic from $44.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Finally, DA Davidson set a $54.00 target price on shares of PotlatchDeltic in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $48.43.

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.