Franklin Resources Inc. Has $673,000 Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Franklin Resources Inc. lowered its position in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 47.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,653 shares of the real estate investment trust's stock after selling 14,383 shares during the period. Franklin Resources Inc.'s holdings in PotlatchDeltic were worth $673,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PCH. TCW Group Inc. acquired a new stake in PotlatchDeltic during the 3rd quarter worth approximately $1,923,000. Neo Ivy Capital Management bought a new stake in shares of PotlatchDeltic during the third quarter worth $376,000. Barclays PLC raised its holdings in shares of PotlatchDeltic by 147.7% during the third quarter. Barclays PLC now owns 163,784 shares of the real estate investment trust's stock worth $7,378,000 after acquiring an additional 97,655 shares during the period. Public Employees Retirement System of Ohio lifted its position in PotlatchDeltic by 7.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 85,248 shares of the real estate investment trust's stock valued at $3,840,000 after acquiring an additional 6,251 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in PotlatchDeltic during the 3rd quarter worth about $558,000. Institutional investors and hedge funds own 86.06% of the company's stock.

PotlatchDeltic Stock Down 0.4 %

Shares of NASDAQ PCH traded down $0.17 during trading hours on Monday, hitting $38.71. The company had a trading volume of 301,123 shares, compared to its average volume of 431,782. PotlatchDeltic Co. has a 1-year low of $37.06 and a 1-year high of $50.04. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The firm's 50 day moving average is $42.15 and its 200-day moving average is $42.17. The stock has a market capitalization of $3.05 billion, a P/E ratio of 184.33 and a beta of 1.14.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.08. The firm had revenue of $255.10 million for the quarter, compared to analyst estimates of $241.35 million. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The company's quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 earnings per share. On average, analysts expect that PotlatchDeltic Co. will post 0.15 earnings per share for the current fiscal year.

PotlatchDeltic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 4.65%. The ex-dividend date of this dividend is Monday, December 16th. PotlatchDeltic's dividend payout ratio (DPR) is presently 857.14%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PCH. Truist Financial upped their price objective on PotlatchDeltic from $42.00 to $45.00 and gave the stock a "hold" rating in a research report on Tuesday, October 15th. Raymond James raised PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $45.00 price target for the company in a research report on Monday, December 23rd. BMO Capital Markets upgraded shares of PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 price objective on the stock in a report on Friday, December 6th. Bank of America upgraded shares of PotlatchDeltic from a "neutral" rating to a "buy" rating and set a $51.00 target price for the company in a report on Thursday, September 12th. Finally, StockNews.com upgraded shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $48.40.

About PotlatchDeltic

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.