Principal Financial Group Inc. Has $7.53 Million Position in PotlatchDeltic Co. (NASDAQ:PCH)

Principal Financial Group Inc. lessened its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 37.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,201 shares of the real estate investment trust’s stock after selling 99,438 shares during the period. Principal Financial Group Inc.’s holdings in PotlatchDeltic were worth $7,532,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in shares of PotlatchDeltic by 370.7% during the first quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 556 shares during the period. Independence Bank of Kentucky bought a new position in PotlatchDeltic during the second quarter worth $51,000. Beach Investment Counsel Inc. PA acquired a new position in shares of PotlatchDeltic during the 2nd quarter valued at $59,000. Quarry LP bought a new position in shares of PotlatchDeltic in the 2nd quarter worth $82,000. Finally, Quest Partners LLC bought a new stake in PotlatchDeltic during the second quarter worth $85,000. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Stock Down 0.5 %

Shares of PotlatchDeltic stock opened at $41.66 on Wednesday. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 198.38 and a beta of 1.14. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The company’s 50 day moving average is $43.35 and its 200 day moving average is $42.29. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. The firm had revenue of $255.10 million for the quarter, compared to the consensus estimate of $241.35 million. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 earnings per share. Research analysts anticipate that PotlatchDeltic Co. will post 0.15 EPS for the current year.

PotlatchDeltic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.80 dividend on an annualized basis and a yield of 4.32%. PotlatchDeltic’s dividend payout ratio is presently 857.14%.

Analysts Set New Price Targets

Several research firms recently commented on PCH. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Thursday, September 12th. Truist Financial lifted their price objective on PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. StockNews.com upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 price objective on shares of PotlatchDeltic in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, PotlatchDeltic currently has a consensus rating of “Hold” and an average target price of $48.67.

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.