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

Principal Financial Group Inc. reduced its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 37.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 167,201 shares of the real estate investment trust’s stock after selling 99,438 shares during the quarter. Principal Financial Group Inc.’s holdings in PotlatchDeltic were worth $7,532,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Quarry LP acquired a new stake in PotlatchDeltic in the second quarter worth $82,000. Quest Partners LLC bought a new stake in shares of PotlatchDeltic in the 2nd quarter valued at $85,000. Systematic Financial Management LP acquired a new stake in PotlatchDeltic during the 3rd quarter worth $166,000. FMR LLC lifted its holdings in PotlatchDeltic by 20.4% during the third quarter. FMR LLC now owns 4,329 shares of the real estate investment trust’s stock worth $195,000 after acquiring an additional 733 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new position in PotlatchDeltic in the third quarter valued at about $219,000. 86.06% of the stock is owned by institutional investors.

PotlatchDeltic Stock Up 1.4 %

NASDAQ:PCH opened at $39.25 on Wednesday. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $50.04. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 186.90 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 stock’s 50 day moving average price is $42.07 and its two-hundred day moving average price is $42.16.

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

PotlatchDeltic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.45 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.59%. PotlatchDeltic’s payout ratio is 857.14%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PCH. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. 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 report on Thursday, September 12th. Raymond James raised shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Monday, December 23rd. BMO Capital Markets raised PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a research note on Friday, December 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.40.

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.