Comerica Bank Purchases 4,460 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Comerica Bank increased its position in PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 14.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,176 shares of the real estate investment trust’s stock after buying an additional 4,460 shares during the quarter. Comerica Bank’s holdings in PotlatchDeltic were worth $1,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PCH. Private Advisor Group LLC purchased a new position in PotlatchDeltic in the 2nd quarter worth approximately $792,000. Texas Permanent School Fund increased its stake in PotlatchDeltic by 2.4% in the 2nd 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. Foundry Partners LLC increased its stake in PotlatchDeltic by 3.1% in the 3rd quarter. Foundry Partners LLC now owns 115,005 shares of the real estate investment trust’s stock worth $4,720,000 after purchasing an additional 3,511 shares during the period. Xponance Inc. increased its stake in PotlatchDeltic by 16.7% in the 3rd quarter. Xponance Inc. now owns 12,500 shares of the real estate investment trust’s stock worth $513,000 after purchasing an additional 1,791 shares during the period. Finally, Ziegler Capital Management LLC increased its stake in PotlatchDeltic by 26.1% in the 2nd quarter. Ziegler Capital Management LLC now owns 32,793 shares of the real estate investment trust’s stock worth $1,449,000 after purchasing an additional 6,785 shares during the period. Institutional investors own 80.36% of the company’s stock.

PotlatchDeltic Trading Up 3.4 %

NASDAQ PCH opened at $45.93 on Friday. The company has a quick ratio of 3.59, a current ratio of 3.99 and a debt-to-equity ratio of 0.41. PotlatchDeltic Co. has a twelve month low of $39.10 and a twelve month high of $58.13. The firm has a market capitalization of $3.71 billion, a PE ratio of 8.68 and a beta of 1.14. The stock’s 50 day moving average is $45.70 and its 200 day moving average is $45.49.

PotlatchDeltic (NASDAQ:PCH – Get Rating) last released its quarterly earnings results on Monday, October 24th. The real estate investment trust reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.10. PotlatchDeltic had a return on equity of 20.34% and a net margin of 27.84%. The company had revenue of $306.69 million for the quarter, compared to analyst estimates of $298.09 million. During the same period in the previous year, the company posted $0.92 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. Research analysts forecast that PotlatchDeltic Co. will post 4.94 earnings per share for the current fiscal year.

PotlatchDeltic Cuts Dividend

The business also recently announced a special dividend, which was paid on Friday, December 30th. Shareholders of record on Wednesday, December 21st were issued a $0.95 dividend. This represents a yield of 4%. The ex-dividend date of this dividend was Tuesday, December 20th. PotlatchDeltic’s dividend payout ratio (DPR) is 34.03%.

Analysts Set New Price Targets

A number of equities analysts have commented on PCH shares. Bank of America lifted their price target on PotlatchDeltic from $53.00 to $55.00 in a research note on Thursday, October 13th. DA Davidson reduced their target price on PotlatchDeltic to $57.00 in a research note on Thursday, October 27th. Royal Bank of Canada raised PotlatchDeltic from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $50.00 to $55.00 in a research note on Tuesday, October 18th. Finally, StockNews.com initiated coverage on PotlatchDeltic in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.60.

PotlatchDeltic Company Profile

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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.