Shell Asset Management Co. Sells 1,546 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Shell Asset Management Co. lowered its holdings in PotlatchDeltic Co. (NASDAQ:PCHGet Rating) by 12.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,449 shares of the real estate investment trust’s stock after selling 1,546 shares during the period. Shell Asset Management Co.’s holdings in PotlatchDeltic were worth $551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PCH. State of Michigan Retirement System grew its position in shares of PotlatchDeltic by 1.2% in the 4th quarter. State of Michigan Retirement System now owns 16,993 shares of the real estate investment trust’s stock valued at $1,023,000 after acquiring an additional 200 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of PotlatchDeltic by 0.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 56,104 shares of the real estate investment trust’s stock worth $3,018,000 after buying an additional 283 shares during the last quarter. Financial Engines Advisors L.L.C. lifted its stake in shares of PotlatchDeltic by 7.0% during the 4th quarter. Financial Engines Advisors L.L.C. now owns 4,550 shares of the real estate investment trust’s stock worth $274,000 after buying an additional 297 shares during the last quarter. Raymond James Trust N.A. lifted its stake in shares of PotlatchDeltic by 5.8% during the 4th quarter. Raymond James Trust N.A. now owns 5,431 shares of the real estate investment trust’s stock worth $327,000 after buying an additional 299 shares during the last quarter. Finally, Strs Ohio lifted its stake in shares of PotlatchDeltic by 1.9% during the 1st quarter. Strs Ohio now owns 15,700 shares of the real estate investment trust’s stock worth $827,000 after buying an additional 300 shares during the last quarter. Institutional investors own 81.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com cut shares of PotlatchDeltic from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada cut shares of PotlatchDeltic from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $65.00 to $60.00 in a research note on Wednesday, April 27th. DA Davidson cut their target price on shares of PotlatchDeltic from $66.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, June 27th. Finally, Truist Financial raised their target price on shares of PotlatchDeltic to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. Two equities 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’s stock. According to MarketBeat, PotlatchDeltic has an average rating of “Moderate Buy” and an average price target of $60.00.

PotlatchDeltic Price Performance

Shares of PotlatchDeltic stock opened at $48.20 on Wednesday. PotlatchDeltic Co. has a twelve month low of $43.37 and a twelve month high of $61.51. The company has a quick ratio of 3.78, a current ratio of 4.20 and a debt-to-equity ratio of 0.39. The company has a 50-day simple moving average of $47.65 and a two-hundred day simple moving average of $51.68. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 8.58 and a beta of 1.15.

PotlatchDeltic (NASDAQ:PCHGet Rating) last issued its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.26. PotlatchDeltic had a net margin of 29.77% and a return on equity of 23.13%. The business had revenue of $359.60 million during the quarter, compared to analysts’ expectations of $341.42 million. During the same quarter in the previous year, the company earned $2.77 EPS. The business’s revenue was down 19.6% on a year-over-year basis. Analysts forecast that PotlatchDeltic Co. will post 5.24 EPS for the current year.

PotlatchDeltic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Friday, June 3rd were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Thursday, June 2nd. PotlatchDeltic’s payout ratio is presently 31.32%.

About PotlatchDeltic

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PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns 1.8 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. 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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Institutional Ownership by Quarter for PotlatchDeltic (NASDAQ:PCH)

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