California Public Employees Retirement System Raises Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

California Public Employees Retirement System grew its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCHGet Rating) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,396 shares of the real estate investment trust’s stock after purchasing an additional 646 shares during the period. California Public Employees Retirement System’s holdings in PotlatchDeltic were worth $7,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Private Advisor Group LLC purchased a new stake in PotlatchDeltic during the second quarter worth about $792,000. Texas Permanent School Fund increased its stake in PotlatchDeltic by 2.4% during the second quarter. Texas Permanent School Fund now owns 50,141 shares of the real estate investment trust’s stock worth $2,216,000 after purchasing an additional 1,178 shares during the period. Liberty Mutual Group Asset Management Inc. purchased a new stake in PotlatchDeltic during the first quarter worth about $3,770,000. Arnhold LLC increased its stake in PotlatchDeltic by 27.4% during the first quarter. Arnhold LLC now owns 29,723 shares of the real estate investment trust’s stock worth $1,567,000 after purchasing an additional 6,401 shares during the period. Finally, State of Michigan Retirement System increased its stake in PotlatchDeltic by 3.2% during the first quarter. State of Michigan Retirement System now owns 17,531 shares of the real estate investment trust’s stock worth $924,000 after purchasing an additional 538 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Eric J. Cremers sold 11,444 shares of the business’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $40.59, for a total value of $464,511.96. Following the completion of the sale, the chief executive officer now directly owns 163,151 shares of the company’s stock, valued at approximately $6,622,299.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

PotlatchDeltic Stock Up 0.1 %

PCH stock opened at $48.20 on Thursday. The company’s 50 day moving average price is $43.98 and its 200 day moving average price is $46.76. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.59 and a current ratio of 3.99. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 9.11 and a beta of 1.14. PotlatchDeltic Co. has a fifty-two week low of $39.10 and a fifty-two week high of $61.51.

PotlatchDeltic (NASDAQ:PCHGet Rating) last issued its quarterly earnings data on Monday, October 24th. The real estate investment trust reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.10. PotlatchDeltic had a net margin of 27.84% and a return on equity of 20.34%. The business had revenue of $306.69 million during the quarter, compared to the consensus estimate of $298.09 million. During the same quarter in the previous year, the firm earned $0.92 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts anticipate that PotlatchDeltic Co. will post 4.99 EPS for the current fiscal year.

PotlatchDeltic announced that its board has authorized a stock buyback plan on Wednesday, August 31st that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

PotlatchDeltic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Tuesday, September 20th were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, September 19th. This represents a $1.76 annualized dividend and a yield of 3.65%. PotlatchDeltic’s dividend payout ratio is presently 33.27%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Truist Financial boosted their price target on shares of PotlatchDeltic to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. StockNews.com started coverage on shares of PotlatchDeltic in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Royal Bank of Canada upgraded shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $50.00 to $55.00 in a research note on Tuesday, October 18th. DA Davidson cut their target price on shares of PotlatchDeltic to $57.00 in a research note on Thursday, October 27th. Finally, Raymond James cut their target price on shares of PotlatchDeltic from $70.00 to $65.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, August 16th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.60.

PotlatchDeltic Company Profile

(Get Rating)

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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