Principal Financial Group Inc. Has $7.53 Million Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Principal Financial Group Inc. reduced its position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 37.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,201 shares of the real estate investment trust's stock after selling 99,438 shares during the period. Principal Financial Group Inc. owned approximately 0.21% of PotlatchDeltic worth $7,532,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its holdings in PotlatchDeltic by 370.7% in the first quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 556 shares in the last quarter. Independence Bank of Kentucky acquired a new stake in shares of PotlatchDeltic in the second quarter valued at approximately $51,000. Beach Investment Counsel Inc. PA acquired a new stake in shares of PotlatchDeltic in the second quarter valued at approximately $59,000. Quarry LP acquired a new stake in shares of PotlatchDeltic in the second quarter valued at approximately $82,000. Finally, Quest Partners LLC acquired a new stake in shares of PotlatchDeltic in the second quarter valued at approximately $85,000. 86.06% of the stock is owned by hedge funds and other institutional investors.

PotlatchDeltic Price Performance

Shares of NASDAQ PCH traded down $0.18 during midday trading on Wednesday, reaching $41.48. The company's stock had a trading volume of 119,356 shares, compared to its average volume of 431,488. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average price of $43.35 and a 200 day moving average price of $42.29. PotlatchDeltic Co. has a one year low of $37.06 and a one year high of $50.04. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 198.38 and a beta of 1.14.

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

PotlatchDeltic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.34%. The ex-dividend date was Friday, September 13th. PotlatchDeltic's dividend payout ratio is 857.14%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Royal Bank of Canada restated an "outperform" rating and set a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday, October 30th. Bank of America raised shares of PotlatchDeltic from a "neutral" rating to a "buy" rating and set a $51.00 price target on the stock in a research note on Thursday, September 12th. StockNews.com raised shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Finally, Truist Financial raised their price objective on shares of PotlatchDeltic from $42.00 to $45.00 and gave the stock a "hold" rating in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $48.67.

PotlatchDeltic Company Profile

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.