State Street Corp Trims Stake in PotlatchDeltic Co. (NASDAQ:PCH)

State Street Corp reduced its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 4.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,729,694 shares of the real estate investment trust's stock after selling 141,514 shares during the period. State Street Corp owned approximately 3.47% of PotlatchDeltic worth $122,973,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Systematic Financial Management LP acquired a new stake in PotlatchDeltic during the third quarter worth about $166,000. Point72 Asset Management L.P. purchased a new stake in PotlatchDeltic in the 3rd quarter worth approximately $467,000. NFJ Investment Group LLC acquired a new stake in shares of PotlatchDeltic during the 3rd quarter worth approximately $5,878,000. Heitman Real Estate Securities LLC acquired a new stake in shares of PotlatchDeltic during the 3rd quarter worth approximately $8,153,000. Finally, Holocene Advisors LP increased its holdings in shares of PotlatchDeltic by 29.0% during the 3rd quarter. Holocene Advisors LP now owns 61,387 shares of the real estate investment trust's stock valued at $2,765,000 after purchasing an additional 13,806 shares in the last quarter. Hedge funds and other institutional investors own 86.06% of the company's stock.

PotlatchDeltic Price Performance

PotlatchDeltic stock traded down $0.35 during midday trading on Friday, reaching $42.71. The company had a trading volume of 332,123 shares, compared to its average volume of 427,684. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.93. PotlatchDeltic Co. has a 12-month low of $37.06 and a 12-month high of $50.04. The company has a market capitalization of $3.36 billion, a P/E ratio of 203.38 and a beta of 1.14. The firm's fifty day simple moving average is $42.90 and its 200-day simple moving average is $42.35.

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

PotlatchDeltic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Monday, December 16th. PotlatchDeltic's dividend payout ratio (DPR) is 857.14%.

Analyst Ratings Changes

Several analysts recently commented on the stock. BMO Capital Markets upgraded shares of PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 price target on the stock in a research report on Friday, December 6th. 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 PotlatchDeltic from a "neutral" rating to a "buy" rating and set a $51.00 price target for the company in a report on Thursday, September 12th. Truist Financial raised their price objective on PotlatchDeltic from $42.00 to $45.00 and gave the company a "hold" rating in a report 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $49.25.

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.