Deprince Race & Zollo Inc. raised its stake in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 17.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,359,832 shares of the real estate investment trust's stock after purchasing an additional 351,777 shares during the period. PotlatchDeltic makes up approximately 1.8% of Deprince Race & Zollo Inc.'s holdings, making the stock its 4th biggest position. Deprince Race & Zollo Inc. owned 3.00% of PotlatchDeltic worth $92,623,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of PotlatchDeltic in the 4th quarter valued at about $217,145,000. Legal & General Group Plc increased its stake in PotlatchDeltic by 4.0% in the fourth quarter. Legal & General Group Plc now owns 2,498,762 shares of the real estate investment trust's stock valued at $98,076,000 after acquiring an additional 95,485 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in 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 acquiring an additional 70,745 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of PotlatchDeltic by 8.7% in the fourth quarter. Northern Trust Corp now owns 1,233,250 shares of the real estate investment trust's stock worth $48,405,000 after acquiring an additional 98,914 shares during the last quarter. Finally, JPMorgan Chase & Co. grew 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. 86.06% of the stock is owned by institutional investors and hedge funds.
PotlatchDeltic Stock Performance
PCH traded down $0.10 during trading on Tuesday, reaching $40.25. 184,275 shares of the company's stock were exchanged, compared to its average volume of 461,023. PotlatchDeltic Co. has a 1 year low of $36.82 and a 1 year high of $48.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.08. The stock has a market capitalization of $3.16 billion, a P/E ratio of 143.75 and a beta of 1.16. The company's fifty day simple moving average is $41.51 and its 200-day simple moving average is $42.21.
PotlatchDeltic (NASDAQ:PCH - Get Free Report) last announced its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.13. The company 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%. The business's revenue for the quarter was up 17.6% on a year-over-year basis. As a group, research analysts predict that PotlatchDeltic Co. will post 0.8 earnings per share for the current fiscal year.
PotlatchDeltic Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Friday, June 6th. PotlatchDeltic's dividend payout ratio (DPR) is 295.08%.
Analyst Upgrades and Downgrades
PCH has been the subject of several research analyst reports. Truist Financial lowered their price objective on PotlatchDeltic from $44.00 to $42.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. StockNews.com upgraded PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Friday, January 31st. DA Davidson set a $54.00 price objective on PotlatchDeltic in a research note on Wednesday, January 29th. Finally, Citigroup cut their price target on PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.43.
Check Out Our Latest Stock Report on PotlatchDeltic
PotlatchDeltic Profile
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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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