Rhumbline Advisers Lowers Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Rhumbline Advisers lowered its position in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 2.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 270,476 shares of the real estate investment trust's stock after selling 7,802 shares during the period. Rhumbline Advisers owned about 0.34% of PotlatchDeltic worth $12,204,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PCH. Norges Bank purchased a new position in shares of PotlatchDeltic in the 4th quarter valued at about $217,145,000. Balyasny Asset Management L.P. increased its position in shares of PotlatchDeltic by 256.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 567,371 shares of the real estate investment trust's stock valued at $22,269,000 after buying an additional 408,355 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of PotlatchDeltic by 17.5% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,359,832 shares of the real estate investment trust's stock worth $92,623,000 after buying an additional 351,777 shares during the period. Westwood Holdings Group Inc. lifted its position in shares of PotlatchDeltic by 12.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,404,064 shares of the real estate investment trust's stock valued at $94,360,000 after buying an additional 260,674 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of PotlatchDeltic by 27.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,145,473 shares of the real estate investment trust's stock valued at $44,960,000 after buying an additional 245,026 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

PotlatchDeltic Price Performance

Shares of PotlatchDeltic stock traded up $0.54 on Tuesday, hitting $39.74. 35,587 shares of the company were exchanged, compared to its average volume of 472,835. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $39.10 and a 200 day moving average price of $41.82. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 141.88 and a beta of 1.17. 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 released its quarterly earnings data 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. PotlatchDeltic had a return on equity of 1.05% and a net margin of 2.06%. The company had revenue of $268.26 million for the quarter, compared to analyst estimates of $243.68 million. The business's revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, sell-side analysts predict that PotlatchDeltic Co. will post 0.8 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 dividend yield of 4.53%. The ex-dividend date of this dividend is Friday, June 6th. PotlatchDeltic's dividend payout ratio is currently 295.08%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PCH. Citigroup reissued a "buy" rating and set a $47.00 target price (down previously from $49.00) on shares of PotlatchDeltic in a research note on Tuesday, June 3rd. Truist Financial cut 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $48.57.

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.