Handelsbanken Fonder AB Grows Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Handelsbanken Fonder AB grew its holdings in PotlatchDeltic Co. (NASDAQ:PCH) by 41.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,743 shares of the real estate investment trust’s stock after buying an additional 7,300 shares during the period. Handelsbanken Fonder AB’s holdings in PotlatchDeltic were worth $1,115,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. grew its position in PotlatchDeltic by 353.2% in the first quarter. Russell Investments Group Ltd. now owns 455,008 shares of the real estate investment trust’s stock worth $21,394,000 after acquiring an additional 354,616 shares in the last quarter. Deprince Race & Zollo Inc. lifted its stake in shares of 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 purchasing an additional 304,352 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of 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 worth $61,913,000 after purchasing an additional 212,121 shares during the period. Westwood Holdings Group Inc. increased its position in shares of PotlatchDeltic by 10.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,606,131 shares of the real estate investment trust’s stock valued at $75,520,000 after purchasing an additional 149,920 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in PotlatchDeltic by 2,054.5% during the 2nd quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust’s stock valued at $4,053,000 after buying an additional 98,123 shares during the period. 86.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PotlatchDeltic

In other news, VP Ashlee Townsend Cribb sold 4,114 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $43.11, for a total transaction of $177,354.54. Following the transaction, the vice president now owns 29,039 shares of the company’s stock, valued at approximately $1,251,871.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

PotlatchDeltic Trading Up 0.8 %

NASDAQ PCH opened at $42.95 on Friday. The stock has a market cap of $3.41 billion, a PE ratio of 75.35 and a beta of 1.13. PotlatchDeltic Co. has a 12 month low of $37.06 and a 12 month high of $50.04. The company’s 50-day moving average price is $43.33 and its 200-day moving average price is $42.52. The company has a current ratio of 1.29, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41.

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

PotlatchDeltic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, September 13th. This represents a $1.80 annualized dividend and a yield of 4.19%. PotlatchDeltic’s payout ratio is currently 315.79%.

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.