Geode Capital Management LLC Trims Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Geode Capital Management LLC trimmed its position in PotlatchDeltic Co. (NASDAQ:PCH) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,065,784 shares of the real estate investment trust’s stock after selling 59,144 shares during the quarter. Geode Capital Management LLC’s holdings in PotlatchDeltic were worth $93,078,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of PotlatchDeltic by 147.7% in the third quarter. Barclays PLC now owns 163,784 shares of the real estate investment trust’s stock valued at $7,378,000 after acquiring an additional 97,655 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in PotlatchDeltic by 7.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 85,248 shares of the real estate investment trust’s stock worth $3,840,000 after purchasing an additional 6,251 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in PotlatchDeltic in the 3rd quarter worth approximately $558,000. Weiss Asset Management LP purchased a new stake in PotlatchDeltic during the 3rd quarter valued at approximately $2,071,000. Finally, Systematic Financial Management LP bought a new stake in shares of PotlatchDeltic during the third quarter valued at approximately $166,000. Institutional investors own 86.06% of the company’s stock.

Wall Street Analyst Weigh In

PCH has been the subject of several research analyst reports. Bank of America raised shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Thursday, September 12th. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Truist Financial increased their price target on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of PotlatchDeltic in a research note on Wednesday, October 30th. Finally, BMO Capital Markets upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 target price for the company in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, PotlatchDeltic currently has a consensus rating of “Moderate Buy” and an average price target of $49.25.

PotlatchDeltic Stock Down 1.6 %

Shares of NASDAQ PCH opened at $38.40 on Friday. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 182.86 and a beta of 1.14. PotlatchDeltic Co. has a 12-month low of $37.06 and a 12-month high of $50.04. 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 firm’s 50-day moving average price is $42.67 and its 200-day moving average price is $42.29.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share 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 company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. On average, equities research analysts anticipate that PotlatchDeltic Co. will post 0.15 EPS for the current fiscal year.

PotlatchDeltic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Monday, December 16th. PotlatchDeltic’s dividend payout ratio is presently 857.14%.

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.