Millennium Management LLC Sells 133,734 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Millennium Management LLC lessened its stake in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 27.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 348,063 shares of the real estate investment trust's stock after selling 133,734 shares during the quarter. Millennium Management LLC owned about 0.44% of PotlatchDeltic worth $13,661,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of PotlatchDeltic by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,216 shares of the real estate investment trust's stock worth $1,775,000 after acquiring an additional 1,772 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of PotlatchDeltic by 14.3% in the fourth quarter. Janus Henderson Group PLC now owns 890,067 shares of the real estate investment trust's stock valued at $34,935,000 after purchasing an additional 111,508 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in PotlatchDeltic by 43.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 118,514 shares of the real estate investment trust's stock valued at $4,652,000 after purchasing an additional 35,664 shares in the last quarter. Deprince Race & Zollo Inc. grew its stake in PotlatchDeltic by 17.5% in the fourth quarter. Deprince Race & Zollo Inc. now owns 2,359,832 shares of the real estate investment trust's stock valued at $92,623,000 after purchasing an additional 351,777 shares in the last quarter. Finally, CoreCommodity Management LLC increased its holdings in shares of PotlatchDeltic by 149.1% in the fourth quarter. CoreCommodity Management LLC now owns 33,185 shares of the real estate investment trust's stock valued at $1,303,000 after purchasing an additional 19,862 shares during the last quarter. Institutional investors own 86.06% of the company's stock.

PotlatchDeltic Stock Down 1.0%

NASDAQ PCH traded down $0.38 on Wednesday, reaching $39.04. The company had a trading volume of 28,577 shares, compared to its average volume of 467,344. The company's fifty day moving average is $40.16 and its 200 day moving average is $42.00. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. PotlatchDeltic Co. has a 52-week low of $36.82 and a 52-week high of $48.12. The stock has a market capitalization of $3.07 billion, a P/E ratio of 139.74 and a beta of 1.16.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. PotlatchDeltic's revenue was up 17.6% on a year-over-year basis. Sell-side analysts anticipate that PotlatchDeltic Co. will post 0.8 earnings per share for the current fiscal year.

PotlatchDeltic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, June 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.61%. PotlatchDeltic's dividend payout ratio (DPR) is presently 295.08%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Truist Financial reduced 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. Wall Street Zen raised PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Finally, DA Davidson set a $54.00 price target on PotlatchDeltic in a research note on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, PotlatchDeltic has a consensus rating of "Moderate Buy" and an average price target of $48.43.

PotlatchDeltic Company 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.