Geode Capital Management LLC lessened its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,065,784 shares of the real estate investment trust's stock after selling 59,144 shares during the period. Geode Capital Management LLC owned about 2.62% of PotlatchDeltic worth $93,078,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Independence Bank of Kentucky purchased a new position in shares of PotlatchDeltic during the second quarter valued at about $51,000. Quarry LP purchased a new position in shares of PotlatchDeltic during the 2nd quarter worth approximately $82,000. Quest Partners LLC purchased a new position in shares of PotlatchDeltic during the 2nd quarter worth approximately $85,000. Systematic Financial Management LP bought a new position in shares of PotlatchDeltic in the 3rd quarter worth approximately $166,000. Finally, FMR LLC lifted its stake in shares of PotlatchDeltic by 20.4% in the 3rd quarter. FMR LLC now owns 4,329 shares of the real estate investment trust's stock valued at $195,000 after purchasing an additional 733 shares during the period. Institutional investors own 86.06% of the company's stock.
Shares of NASDAQ:PCH opened at $38.40 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.93. PotlatchDeltic Co. has a 1 year low of $37.06 and a 1 year high of $50.04. The company has a market cap of $3.02 billion, a P/E ratio of 182.86 and a beta of 1.14. The stock's fifty day moving average price is $42.67 and its 200-day moving average price is $42.29.
PotlatchDeltic (NASDAQ:PCH - Get Free Report) last posted its 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 for the quarter, compared to analysts' expectations of $241.35 million. During the same quarter in the prior year, the business earned $0.14 EPS. The business's revenue for the quarter was down 3.9% compared to the same quarter last year. Sell-side analysts expect that PotlatchDeltic Co. will post 0.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Monday, December 16th. PotlatchDeltic's payout ratio is currently 857.14%.
Several brokerages recently weighed in on PCH. Truist Financial upped their price target on PotlatchDeltic from $42.00 to $45.00 and gave the stock a "hold" rating in a research note on Tuesday, October 15th. Royal Bank of Canada reiterated an "outperform" rating and issued a $50.00 price target on shares of PotlatchDeltic in a research note on Wednesday, October 30th. BMO Capital Markets raised shares of PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 price objective on the stock in a research note on Friday, December 6th. 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. Finally, StockNews.com raised PotlatchDeltic from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, PotlatchDeltic has an average rating of "Moderate Buy" and a consensus target price of $49.25.
Get Our Latest Research Report on PCH
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.
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