Azzad Asset Management Inc. ADV Acquires 1,071 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Azzad Asset Management Inc. ADV grew its holdings in PotlatchDeltic Co. (NASDAQ:PCH) by 5.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,011 shares of the real estate investment trust’s stock after purchasing an additional 1,071 shares during the period. Azzad Asset Management Inc. ADV’s holdings in PotlatchDeltic were worth $941,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Planned Solutions Inc. bought a new position in PotlatchDeltic in the fourth quarter valued at approximately $60,000. VitalStone Financial LLC grew its stake in shares of PotlatchDeltic by 109.6% in the third quarter. VitalStone Financial LLC now owns 3,608 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 1,887 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in PotlatchDeltic during the fourth quarter worth $209,000. Vanguard Personalized Indexing Management LLC bought a new stake in PotlatchDeltic during the fourth quarter worth $280,000. Finally, BTC Capital Management Inc. acquired a new stake in PotlatchDeltic in the first quarter valued at $277,000. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Price Performance

PCH traded down $0.08 on Wednesday, hitting $37.89. 100,386 shares of the stock were exchanged, compared to its average volume of 422,947. The business has a 50-day moving average of $41.65 and a two-hundred day moving average of $44.46. PotlatchDeltic Co. has a 12 month low of $37.21 and a 12 month high of $54.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 1.12. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 66.62, a PEG ratio of 3.12 and a beta of 1.12.

PotlatchDeltic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date was Friday, June 7th. PotlatchDeltic’s dividend payout ratio is presently 315.80%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada upgraded shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $45.00 to $46.00 in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $50.67.

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.