PotlatchDeltic Co. (NASDAQ:PCH) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 0.8% during the 3rd quarter, Holdings Channel reports. The fund owned 155,314 shares of the real estate investment trust’s stock after selling 1,300 shares during the quarter. Swiss National Bank’s holdings in PotlatchDeltic were worth $6,997,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Deprince Race & Zollo Inc. increased its holdings in shares of PotlatchDeltic by 33.0% during 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 in the last quarter. Janus Henderson Group PLC grew its position in PotlatchDeltic by 19.2% during the first 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 buying an additional 212,121 shares during the period. Ceredex Value Advisors LLC purchased a new position in PotlatchDeltic in the third quarter valued at $7,884,000. Renaissance Technologies LLC raised its position in shares of PotlatchDeltic by 2,054.5% in the second quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust’s stock worth $4,053,000 after acquiring an additional 98,123 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of PotlatchDeltic by 73.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 154,568 shares of the real estate investment trust’s stock valued at $6,963,000 after acquiring an additional 65,682 shares during the period. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

PotlatchDeltic Stock Performance

NASDAQ:PCH opened at $44.52 on Wednesday. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $50.04. The company has a market cap of $3.51 billion, a P/E ratio of 212.00 and a beta of 1.14. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average price is $43.22 and its 200-day moving average price is $42.29.

PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The company had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $241.35 million. During the same period in the prior year, the business earned $0.14 EPS. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. On average, sell-side analysts forecast that PotlatchDeltic Co. will post 0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PCH shares. Truist Financial upped their price target on PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Bank of America raised shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Thursday, September 12th. StockNews.com upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $50.00 target price on shares of PotlatchDeltic in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.67.

PotlatchDeltic Company 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.