State of Alaska Department of Revenue Sells 685 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

State of Alaska Department of Revenue reduced its stake in PotlatchDeltic Co. (NASDAQ:PCH) by 1.5% during the third quarter, Holdings Channel.com reports. The fund owned 46,003 shares of the real estate investment trust’s stock after selling 685 shares during the period. State of Alaska Department of Revenue’s holdings in PotlatchDeltic were worth $2,071,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in shares of PotlatchDeltic by 370.7% in the 1st quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 556 shares during the last quarter. Independence Bank of Kentucky acquired a new position in PotlatchDeltic in the second quarter valued at $51,000. Beach Investment Counsel Inc. PA bought a new stake in PotlatchDeltic during the second quarter valued at $59,000. Quarry LP acquired a new stake in PotlatchDeltic during the 2nd quarter worth about $82,000. Finally, Quest Partners LLC bought a new position in shares of PotlatchDeltic in the 2nd quarter worth about $85,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

PotlatchDeltic Stock Up 0.6 %

Shares of NASDAQ:PCH opened at $41.81 on Friday. The firm has a market cap of $3.30 billion, a P/E ratio of 199.10 and a beta of 1.13. PotlatchDeltic Co. has a 52-week low of $37.06 and a 52-week high of $50.04. The business’s 50 day simple moving average is $43.56 and its two-hundred day simple moving average is $42.20. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.00 and a current ratio of 1.24.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly 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 net margin of 1.56% and a return on equity of 0.78%. The business had revenue of $255.10 million during the quarter, compared to the consensus estimate of $241.35 million. During the same quarter last year, the firm posted $0.14 EPS. PotlatchDeltic’s revenue was down 3.9% compared to the same quarter last year. As a group, research analysts forecast that PotlatchDeltic Co. will post 0.01 EPS for the current fiscal year.

PotlatchDeltic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.80 annualized dividend and a dividend yield of 4.31%. PotlatchDeltic’s payout ratio is 857.14%.

Analyst Upgrades and Downgrades

PCH has been the topic of several research analyst reports. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 price objective on shares of PotlatchDeltic in a research report on Wednesday. Bank of America upgraded shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Thursday, September 12th. Finally, Truist Financial raised their price target on shares of PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $48.67.

About PotlatchDeltic

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.