Retirement Systems of Alabama Has $3.93 Million Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Retirement Systems of Alabama lowered its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 11.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,232 shares of the real estate investment trust’s stock after selling 10,900 shares during the quarter. Retirement Systems of Alabama’s holdings in PotlatchDeltic were worth $3,930,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. MQS Management LLC acquired a new stake in PotlatchDeltic during the third quarter worth approximately $771,000. TCW Group Inc. acquired a new position in PotlatchDeltic in the third quarter valued at about $1,923,000. Renaissance Technologies LLC lifted its position in PotlatchDeltic by 2,054.5% during the second quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust’s stock worth $4,053,000 after purchasing an additional 98,123 shares during the period. Quest Partners LLC grew its stake in PotlatchDeltic by 872.1% during the third quarter. Quest Partners LLC now owns 20,997 shares of the real estate investment trust’s stock worth $946,000 after buying an additional 18,837 shares in the last quarter. Finally, Foresight Group Ltd Liability Partnership increased its holdings in PotlatchDeltic by 72.7% in the 2nd quarter. Foresight Group Ltd Liability Partnership now owns 84,314 shares of the real estate investment trust’s stock valued at $3,321,000 after buying an additional 35,494 shares during the period. Institutional investors own 86.06% of the company’s stock.

Analyst Ratings Changes

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

PotlatchDeltic Price Performance

Shares of PCH opened at $38.40 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The stock has a market cap of $3.02 billion, a PE 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 business has a 50-day simple moving average of $42.67 and a two-hundred day simple moving average of $42.29.

PotlatchDeltic (NASDAQ:PCH) last released its quarterly earnings data 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 return on equity of 0.78% and a net margin of 1.56%. The company had revenue of $255.10 million during the quarter, compared to the consensus estimate of $241.35 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. Analysts anticipate that PotlatchDeltic Co. will post 0.15 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 4.69%. PotlatchDeltic’s dividend payout ratio is 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.