Geode Capital Management LLC reduced its position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,065,784 shares of the real estate investment trust's stock after selling 59,144 shares during the quarter. Geode Capital Management LLC owned 2.62% of PotlatchDeltic worth $93,078,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Independence Bank of Kentucky acquired a new position in PotlatchDeltic during the second quarter worth $51,000. Quarry LP purchased a new stake in shares of PotlatchDeltic during the second quarter worth about $82,000. Quest Partners LLC acquired a new position in shares of PotlatchDeltic during the 2nd quarter worth about $85,000. Systematic Financial Management LP purchased a new position in PotlatchDeltic in the 3rd quarter valued at about $166,000. Finally, FMR LLC boosted its holdings in PotlatchDeltic by 20.4% in the 3rd quarter. FMR LLC now owns 4,329 shares of the real estate investment trust's stock worth $195,000 after buying an additional 733 shares during the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.
PotlatchDeltic Stock Up 0.9 %
Shares of NASDAQ:PCH traded up $0.35 during trading hours on Friday, reaching $38.75. The stock had a trading volume of 1,142,483 shares, compared to its average volume of 431,709. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 184.52 and a beta of 1.14. The firm's 50 day moving average is $42.67 and its 200-day moving average is $42.29. PotlatchDeltic Co. has a 1 year low of $37.06 and a 1 year high of $50.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.24.
PotlatchDeltic (NASDAQ:PCH - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.08. The business had revenue of $255.10 million for the quarter, compared to the consensus estimate of $241.35 million. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The business's revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 EPS. Research analysts predict that PotlatchDeltic Co. will post 0.15 earnings per share for the current fiscal year.
PotlatchDeltic Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date is Monday, December 16th. PotlatchDeltic's dividend payout ratio (DPR) is currently 857.14%.
Wall Street Analysts Forecast Growth
PCH has been the subject of several research reports. StockNews.com raised shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Bank of America upgraded PotlatchDeltic from a "neutral" rating to a "buy" rating and set a $51.00 price target for the company in a research report on Thursday, September 12th. BMO Capital Markets upgraded PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 price objective on the stock in a research report on Friday, December 6th. Royal Bank of Canada restated an "outperform" rating and issued a $50.00 target price on shares of PotlatchDeltic in a report on Wednesday, October 30th. Finally, Truist Financial raised their target price on PotlatchDeltic from $42.00 to $45.00 and gave the stock a "hold" rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, PotlatchDeltic currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.25.
View Our Latest Analysis on PCH
About PotlatchDeltic
(
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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