California Public Employees Retirement System grew its position in PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 10.9% during the third quarter, HoldingsChannel.com reports. The firm owned 175,714 shares of the real estate investment trust’s stock after buying an additional 17,318 shares during the quarter. California Public Employees Retirement System’s holdings in PotlatchDeltic were worth $7,211,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of PCH. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of PotlatchDeltic by 13.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,311 shares of the real estate investment trust’s stock valued at $1,335,000 after acquiring an additional 3,064 shares during the last quarter. BlackRock Inc. grew its position in shares of PotlatchDeltic by 3.0% in the first quarter. BlackRock Inc. now owns 8,962,038 shares of the real estate investment trust’s stock valued at $472,566,000 after purchasing an additional 258,490 shares during the last quarter. APG Asset Management N.V. grew its position in shares of PotlatchDeltic by 99.4% in the first quarter. APG Asset Management N.V. now owns 32,500 shares of the real estate investment trust’s stock valued at $1,540,000 after purchasing an additional 16,200 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of PotlatchDeltic by 11.4% in the first quarter. Great West Life Assurance Co. Can now owns 39,159 shares of the real estate investment trust’s stock valued at $2,120,000 after buying an additional 4,003 shares during the period. Finally, Yousif Capital Management LLC boosted its stake in shares of PotlatchDeltic by 7.3% in the first quarter. Yousif Capital Management LLC now owns 37,230 shares of the real estate investment trust’s stock valued at $1,963,000 after buying an additional 2,546 shares during the period. 80.36% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Truist Financial cut their target price on PotlatchDeltic from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Wednesday, February 1st. DA Davidson decreased their price objective on PotlatchDeltic from $57.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, January 24th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.40.
PotlatchDeltic Price Performance
PotlatchDeltic stock opened at $47.22 on Friday. The company’s 50 day moving average price is $46.04 and its two-hundred day moving average price is $45.69. The company has a quick ratio of 2.89, a current ratio of 3.37 and a debt-to-equity ratio of 0.44. PotlatchDeltic Co. has a 52 week low of $39.10 and a 52 week high of $58.13. The stock has a market cap of $3.81 billion, a P/E ratio of 9.92 and a beta of 1.16.
PotlatchDeltic (NASDAQ:PCH – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). The business had revenue of $253.14 million during the quarter, compared to analysts’ expectations of $242.91 million. PotlatchDeltic had a net margin of 25.09% and a return on equity of 17.02%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 earnings per share. On average, equities analysts predict that PotlatchDeltic Co. will post 1.35 earnings per share for the current year.
PotlatchDeltic Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 3rd will be issued a dividend of $0.45 per share. This is an increase from PotlatchDeltic’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Thursday, March 2nd. PotlatchDeltic’s payout ratio is currently 37.82%.
Insiders Place Their Bets
In other PotlatchDeltic news, insider Wayne Wasechek sold 1,800 shares of the business’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $47.99, for a total value of $86,382.00. Following the transaction, the insider now owns 12,322 shares in the company, valued at $591,332.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Wayne Wasechek sold 1,800 shares of the business’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $47.99, for a total transaction of $86,382.00. Following the transaction, the insider now owns 12,322 shares in the company, valued at $591,332.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric J. Cremers sold 8,535 shares of the business’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $48.00, for a total transaction of $409,680.00. Following the transaction, the chief executive officer now owns 199,129 shares in the company, valued at approximately $9,558,192. The disclosure for this sale can be found here. Insiders sold 40,827 shares of company stock valued at $1,960,233 over the last three months. Insiders own 2.00% of the company’s stock.
PotlatchDeltic Profile
PotlatchDeltic Corp. operates as a real estate investment trust. The firm engages in the ownership and management of acres of timberlands. It operates through the following segments: Timberlands, Wood Products and Real Estate. The Timberland segment sells delivered logs, pulpwood, sawlogs, and stumpage.
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