Sumitomo Mitsui Trust Holdings Inc. Raises Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 6.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,193 shares of the real estate investment trust’s stock after purchasing an additional 4,559 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.09% of PotlatchDeltic worth $3,347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PCH. Azzad Asset Management Inc. ADV raised its holdings in shares of PotlatchDeltic by 5.7% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 20,011 shares of the real estate investment trust’s stock worth $941,000 after purchasing an additional 1,071 shares during the period. State of Michigan Retirement System raised its holdings in PotlatchDeltic by 2.6% in the first quarter. State of Michigan Retirement System now owns 19,531 shares of the real estate investment trust’s stock valued at $918,000 after buying an additional 500 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in PotlatchDeltic by 0.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 106,448 shares of the real estate investment trust’s stock valued at $5,005,000 after buying an additional 413 shares during the period. Radnor Capital Management LLC acquired a new position in PotlatchDeltic during the first quarter valued at approximately $404,000. Finally, BTC Capital Management Inc. purchased a new stake in PotlatchDeltic during the first quarter worth approximately $277,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada upgraded shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $45.00 to $46.00 in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.50.

PotlatchDeltic Stock Up 4.3 %

NASDAQ PCH opened at $39.37 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. PotlatchDeltic Co. has a fifty-two week low of $37.06 and a fifty-two week high of $54.44. The business has a 50 day moving average price of $41.23 and a two-hundred day moving average price of $44.00. The stock has a market cap of $3.13 billion, a PE ratio of 69.07, a P/E/G ratio of 3.00 and a beta of 1.12.

PotlatchDeltic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date was Friday, June 7th. PotlatchDeltic’s payout ratio is 315.80%.

PotlatchDeltic 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.