Ameriprise Financial Inc. Raises Stock Position in PotlatchDeltic Co. (NASDAQ:PCH)

Ameriprise Financial Inc. boosted its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 565,946 shares of the real estate investment trust’s stock after acquiring an additional 599 shares during the period. Ameriprise Financial Inc. owned 0.72% of PotlatchDeltic worth $22,213,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in PotlatchDeltic during the fourth quarter valued at approximately $217,145,000. Legal & General Group Plc lifted its position in PotlatchDeltic by 4.0% during the fourth quarter. Legal & General Group Plc now owns 2,498,762 shares of the real estate investment trust’s stock valued at $98,076,000 after purchasing an additional 95,485 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in PotlatchDeltic by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,542,771 shares of the real estate investment trust’s stock valued at $60,554,000 after purchasing an additional 70,745 shares during the last quarter. Northern Trust Corp lifted its position in PotlatchDeltic by 8.7% during the fourth quarter. Northern Trust Corp now owns 1,233,250 shares of the real estate investment trust’s stock valued at $48,405,000 after purchasing an additional 98,914 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in PotlatchDeltic by 27.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,145,473 shares of the real estate investment trust’s stock valued at $44,960,000 after purchasing an additional 245,026 shares during the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Truist Financial dropped their target price on shares of PotlatchDeltic from $44.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. DA Davidson set a $54.00 target price on shares of PotlatchDeltic in a research report on Wednesday, January 29th. Finally, Citigroup dropped their target price on shares of PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, PotlatchDeltic presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.43.

PotlatchDeltic Trading Down 2.2%

Shares of PCH opened at $39.22 on Thursday. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 140.07 and a beta of 1.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.08 and a current ratio of 1.49. PotlatchDeltic Co. has a fifty-two week low of $36.82 and a fifty-two week high of $48.12. The firm has a 50 day moving average price of $41.24 and a 200-day moving average price of $42.18.

PotlatchDeltic (NASDAQ:PCH) last announced its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.13. The firm had revenue of $268.26 million during the quarter, compared to analyst estimates of $243.68 million. PotlatchDeltic had a net margin of 2.06% and a return on equity of 1.05%. The firm’s revenue was up 17.6% on a year-over-year basis. As a group, equities research analysts forecast that PotlatchDeltic Co. will post 0.8 earnings per share for the current year.

PotlatchDeltic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.80 annualized dividend and a yield of 4.59%. PotlatchDeltic’s payout ratio is currently 295.08%.

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.