PotlatchDeltic Co. (NASDAQ:PCH) Position Decreased by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 46.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,078 shares of the real estate investment trust’s stock after selling 32,381 shares during the period. Texas Permanent School Fund Corp’s holdings in PotlatchDeltic were worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PCH. BNP Paribas Financial Markets boosted its position in shares of PotlatchDeltic by 58.8% during the 4th quarter. BNP Paribas Financial Markets now owns 57,316 shares of the real estate investment trust’s stock valued at $2,814,000 after purchasing an additional 21,225 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of PotlatchDeltic by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 331,862 shares of the real estate investment trust’s stock worth $16,294,000 after buying an additional 6,437 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in shares of PotlatchDeltic in the fourth quarter worth about $280,000. Norges Bank acquired a new position in shares of PotlatchDeltic in the fourth quarter worth about $150,557,000. Finally, Clearbridge Investments LLC boosted its holdings in shares of PotlatchDeltic by 0.7% in the fourth quarter. Clearbridge Investments LLC now owns 347,592 shares of the real estate investment trust’s stock worth $17,067,000 after buying an additional 2,465 shares during the period. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Price Performance

NASDAQ PCH opened at $46.08 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $3.64 billion, a PE ratio of 80.84, a price-to-earnings-growth ratio of 1,042.57 and a beta of 1.13. The company has a 50 day moving average price of $42.53 and a two-hundred day moving average price of $42.68. PotlatchDeltic Co. has a 12-month low of $37.06 and a 12-month high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last posted its earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The firm had revenue of $320.70 million during the quarter, compared to analysts’ expectations of $305.01 million. PotlatchDeltic had a net margin of 3.45% and a return on equity of 1.14%. The company’s revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share.

PotlatchDeltic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Friday, September 13th. PotlatchDeltic’s dividend payout ratio (DPR) is presently 315.80%.

Insider Buying and Selling at PotlatchDeltic

In other news, VP Ashlee Townsend Cribb sold 4,114 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $43.11, for a total value of $177,354.54. Following the completion of the sale, the vice president now directly owns 29,039 shares in the company, valued at $1,251,871.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

PCH has been the subject of several recent analyst reports. Royal Bank of Canada raised their target price on shares of PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Bank of America raised shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Thursday, September 12th. Finally, Truist Financial reduced their price target on shares of PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $47.67.

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.