Clearbridge Investments LLC Decreases Stock Position in PotlatchDeltic Co. (NASDAQ:PCH)

Clearbridge Investments LLC lessened its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 347,901 shares of the real estate investment trust’s stock after selling 7,334 shares during the period. Clearbridge Investments LLC’s holdings in PotlatchDeltic were worth $13,704,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in PotlatchDeltic by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 11,736,374 shares of the real estate investment trust’s stock valued at $551,844,000 after buying an additional 57,237 shares during the period. Westwood Holdings Group Inc. raised its holdings in PotlatchDeltic by 3.6% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,664,242 shares of the real estate investment trust’s stock valued at $65,554,000 after buying an additional 58,111 shares during the period. Janus Henderson Group PLC grew its position in PotlatchDeltic by 19.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,316,743 shares of the real estate investment trust’s stock valued at $61,913,000 after acquiring an additional 212,121 shares during the last quarter. Deprince Race & Zollo Inc. grew its position in PotlatchDeltic by 33.0% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,227,361 shares of the real estate investment trust’s stock valued at $48,346,000 after acquiring an additional 304,352 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in PotlatchDeltic by 79.3% in the 4th quarter. Schroder Investment Management Group now owns 769,957 shares of the real estate investment trust’s stock valued at $37,805,000 after acquiring an additional 340,555 shares during the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Insider Transactions at PotlatchDeltic

In related news, VP Ashlee Townsend Cribb sold 4,114 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $43.11, for a total transaction of $177,354.54. Following the sale, the vice president now owns 29,039 shares of the company’s stock, valued at $1,251,871.29. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PCH. Royal Bank of Canada upped their price objective on PotlatchDeltic from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Truist Financial cut their price objective on PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. Finally, Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $47.67.

PotlatchDeltic Price Performance

PCH opened at $43.85 on Friday. PotlatchDeltic Co. has a 12-month low of $37.06 and a 12-month high of $50.04. The company has a current ratio of 1.29, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. The business’s fifty day simple moving average is $43.38 and its 200-day simple moving average is $42.62. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 76.93 and a beta of 1.13.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The business had revenue of $320.70 million for the quarter, compared to the consensus estimate of $305.01 million. During the same quarter in the prior year, the company earned $0.06 EPS. The business’s revenue was up 30.3% compared to the same quarter last year. On average, equities research analysts anticipate that PotlatchDeltic Co. will post 0.02 earnings per share for the current fiscal year.

PotlatchDeltic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Friday, September 13th. PotlatchDeltic’s payout ratio is 315.79%.

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.