Principal Financial Group Inc. Decreases Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Principal Financial Group Inc. lessened its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 37.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 167,201 shares of the real estate investment trust's stock after selling 99,438 shares during the quarter. Principal Financial Group Inc. owned approximately 0.21% of PotlatchDeltic worth $7,532,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of PotlatchDeltic by 19.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,518 shares of the real estate investment trust's stock valued at $808,000 after acquiring an additional 3,378 shares in the last quarter. Natixis Advisors LLC lifted its holdings in PotlatchDeltic by 29.9% in the second quarter. Natixis Advisors LLC now owns 16,221 shares of the real estate investment trust's stock worth $639,000 after buying an additional 3,732 shares during the period. Rhumbline Advisers boosted its position in PotlatchDeltic by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 295,936 shares of the real estate investment trust's stock valued at $11,657,000 after acquiring an additional 2,135 shares in the last quarter. Capital Square LLC grew its holdings in shares of PotlatchDeltic by 8.7% during the 2nd quarter. Capital Square LLC now owns 38,405 shares of the real estate investment trust's stock worth $1,623,000 after acquiring an additional 3,070 shares during the period. Finally, Arizona State Retirement System raised its position in shares of PotlatchDeltic by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 22,256 shares of the real estate investment trust's stock worth $877,000 after acquiring an additional 445 shares in the last quarter. 86.06% of the stock is owned by hedge funds and other institutional investors.

PotlatchDeltic Stock Performance

Shares of NASDAQ:PCH traded up $0.54 during trading on Wednesday, hitting $39.25. The company's stock had a trading volume of 659,486 shares, compared to its average volume of 432,685. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.93. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 186.90 and a beta of 1.14. The company has a 50-day moving average of $42.02 and a 200-day moving average of $42.16. PotlatchDeltic Co. has a 12 month low of $37.06 and a 12 month high of $50.04.

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

PotlatchDeltic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend was Monday, December 16th. PotlatchDeltic's dividend payout ratio (DPR) is 857.14%.

Wall Street Analyst Weigh In

PCH has been the topic of several research reports. BMO Capital Markets raised shares of PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 price objective on the stock in a research note on Friday, December 6th. Bank of America raised PotlatchDeltic from a "neutral" rating to a "buy" rating and set a $51.00 price target on the stock in a research report on Thursday, September 12th. Royal Bank of Canada restated an "outperform" rating and issued a $50.00 price target on shares of PotlatchDeltic in a research note on Wednesday, October 30th. Truist Financial lifted their price objective on PotlatchDeltic from $42.00 to $45.00 and gave the company a "hold" rating in a research note on Tuesday, October 15th. Finally, StockNews.com raised PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.