BNP Paribas Financial Markets Sells 29,150 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

BNP Paribas Financial Markets lessened its stake in PotlatchDeltic Co. (NASDAQ:PCH) by 41.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 41,848 shares of the real estate investment trust’s stock after selling 29,150 shares during the period. BNP Paribas Financial Markets’ holdings in PotlatchDeltic were worth $1,643,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in PotlatchDeltic during the fourth quarter valued at approximately $217,145,000. JPMorgan Chase & Co. boosted its holdings 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 in the last quarter. Ceredex Value Advisors LLC boosted its holdings in PotlatchDeltic by 90.6% during the fourth quarter. Ceredex Value Advisors LLC now owns 333,500 shares of the real estate investment trust’s stock valued at $13,090,000 after purchasing an additional 158,500 shares in the last quarter. AQR Capital Management LLC boosted its holdings in PotlatchDeltic by 249.5% during the fourth quarter. AQR Capital Management LLC now owns 211,154 shares of the real estate investment trust’s stock valued at $8,288,000 after purchasing an additional 150,745 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings 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 in the last quarter. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Stock Performance

NASDAQ:PCH opened at $40.37 on Monday. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $41.03 and a 200-day moving average of $42.16. PotlatchDeltic Co. has a 1 year low of $36.82 and a 1 year high of $48.12. The stock has a market capitalization of $3.17 billion, a P/E ratio of 144.18 and a beta of 1.16.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.13. PotlatchDeltic had a net margin of 2.06% and a return on equity of 1.05%. The firm had revenue of $268.26 million during the quarter, compared to analysts’ expectations of $243.68 million. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that PotlatchDeltic Co. will post 0.8 EPS for the current fiscal year.

PotlatchDeltic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Friday, June 6th. PotlatchDeltic’s dividend payout ratio (DPR) is presently 295.08%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PCH. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Truist Financial cut their target price on shares of PotlatchDeltic from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. Finally, DA Davidson set a $54.00 target price on shares of PotlatchDeltic in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, PotlatchDeltic has an average rating of “Moderate Buy” and an average target price of $48.43.

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.