Victory Capital Management Inc. Sells 80,118 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Victory Capital Management Inc. lessened its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 77.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,210 shares of the real estate investment trust’s stock after selling 80,118 shares during the period. Victory Capital Management Inc.’s holdings in PotlatchDeltic were worth $914,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Bessemer Group Inc. grew its stake in shares of PotlatchDeltic by 370.7% in the first quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 556 shares during the last quarter. Independence Bank of Kentucky bought a new stake in PotlatchDeltic during the 2nd quarter valued at about $51,000. Beach Investment Counsel Inc. PA bought a new stake in PotlatchDeltic during the 2nd quarter valued at about $59,000. Park Place Capital Corp purchased a new position in PotlatchDeltic in the second quarter worth about $105,000. Finally, Cetera Advisors LLC bought a new position in shares of PotlatchDeltic in the first quarter worth approximately $203,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Trading Down 1.0 %

Shares of NASDAQ:PCH opened at $45.61 on Friday. The company has a market cap of $3.63 billion, a P/E ratio of 80.02 and a beta of 1.13. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.00. PotlatchDeltic Co. has a 1 year low of $37.06 and a 1 year high of $50.04. The stock’s fifty day moving average price is $42.67 and its 200-day moving average price is $42.70.

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

PotlatchDeltic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Friday, September 13th. PotlatchDeltic’s dividend payout ratio (DPR) is presently 315.79%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Thursday, September 12th. Finally, Truist Financial lowered their price target on PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.67.

Insider Activity at PotlatchDeltic

In other PotlatchDeltic news, VP Ashlee Townsend Cribb sold 4,114 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $43.11, for a total value of $177,354.54. Following the completion of the sale, the vice president now owns 29,039 shares in the company, valued at $1,251,871.29. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.00% of the stock is owned by company insiders.

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.