Westwood Holdings Group Inc. Acquires 260,674 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Westwood Holdings Group Inc. increased its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,404,064 shares of the real estate investment trust's stock after purchasing an additional 260,674 shares during the quarter. Westwood Holdings Group Inc. owned 3.05% of PotlatchDeltic worth $94,360,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in 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 worth $44,960,000 after acquiring an additional 245,026 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in PotlatchDeltic by 4.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 162,135 shares of the real estate investment trust's stock worth $6,364,000 after acquiring an additional 7,567 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in PotlatchDeltic by 4.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,542,771 shares of the real estate investment trust's stock worth $60,554,000 after acquiring an additional 70,745 shares during the last quarter. Stephens Inc. AR boosted its position in PotlatchDeltic by 9.0% during the 4th quarter. Stephens Inc. AR now owns 7,995 shares of the real estate investment trust's stock worth $314,000 after acquiring an additional 662 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in PotlatchDeltic by 17.3% during the 4th 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 during the last quarter. 86.06% of the stock is owned by institutional investors.

PotlatchDeltic Trading Up 0.7%

Shares of PCH stock opened at $40.37 on Monday. The company has a market cap of $3.17 billion, a P/E ratio of 144.18 and a beta of 1.16. PotlatchDeltic Co. has a fifty-two week low of $36.82 and a fifty-two week high of $48.12. The stock has a 50 day simple moving average of $41.03 and a two-hundred day simple moving average of $42.16. 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 announced its quarterly earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.13. PotlatchDeltic had a return on equity of 1.05% and a net margin of 2.06%. The business had revenue of $268.26 million during the quarter, compared to the consensus estimate of $243.68 million. The business's revenue for the quarter was up 17.6% compared to the same quarter last year. Research analysts forecast that PotlatchDeltic Co. will post 0.8 earnings per share for the current year.

PotlatchDeltic Announces Dividend

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 given a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.80 annualized dividend and a yield of 4.46%. PotlatchDeltic's dividend payout ratio is currently 295.08%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PCH. 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 report on Tuesday, April 22nd. DA Davidson set a $54.00 price objective on PotlatchDeltic in a report on Wednesday, January 29th. Finally, StockNews.com raised PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $48.43.

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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