SG Americas Securities LLC purchased a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 26,219 shares of the real estate investment trust's stock, valued at approximately $1,183,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in PotlatchDeltic by 27.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,145,473 shares of the real estate investment trust's stock valued at $44,960,000 after purchasing an additional 245,026 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of PotlatchDeltic by 4.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 162,135 shares of the real estate investment trust's stock valued at $6,364,000 after buying an additional 7,567 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PotlatchDeltic by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,542,771 shares of the real estate investment trust's stock valued at $60,554,000 after buying an additional 70,745 shares in the last quarter. Bank of America Corp DE increased its holdings in PotlatchDeltic by 11.0% during the fourth quarter. Bank of America Corp DE now owns 745,033 shares of the real estate investment trust's stock worth $29,243,000 after buying an additional 73,781 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in PotlatchDeltic by 17.3% during the fourth quarter. New York State Common Retirement Fund now owns 271,698 shares of the real estate investment trust's stock worth $10,664,000 after acquiring an additional 40,058 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.
PotlatchDeltic Stock Performance
PCH traded down $0.95 on Tuesday, reaching $37.71. The company had a trading volume of 629,930 shares, compared to its average volume of 505,183. PotlatchDeltic Co. has a fifty-two week low of $36.82 and a fifty-two week high of $48.12. The stock has a market cap of $2.96 billion, a P/E ratio of 134.68 and a beta of 1.17. The company's fifty day moving average is $39.09 and its 200 day moving average is $41.63. 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 issued its quarterly earnings data 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 company had revenue of $268.26 million during the quarter, compared to analysts' expectations of $243.68 million. PotlatchDeltic had a return on equity of 1.05% and a net margin of 2.06%. The company's quarterly revenue was up 17.6% on a year-over-year basis. As a group, 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. 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 4.77%. The ex-dividend date of this dividend is Friday, June 6th. PotlatchDeltic's dividend payout ratio is 295.08%.
Analyst Ratings Changes
PCH has been the subject of a number of analyst reports. Citigroup reissued a "buy" rating and issued a $47.00 price objective (down previously from $49.00) on shares of PotlatchDeltic in a research report on Tuesday, June 3rd. Truist Financial cut their target price on shares of PotlatchDeltic from $44.00 to $42.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, PotlatchDeltic presently has a consensus rating of "Moderate Buy" and an average price target of $48.57.
Read Our Latest Research Report on PCH
About PotlatchDeltic
(
Free Report)
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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