Congress Asset Management Co. MA Acquires 502 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Congress Asset Management Co. MA raised its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 162,366 shares of the real estate investment trust’s stock after purchasing an additional 502 shares during the period. Congress Asset Management Co. MA owned 0.20% of PotlatchDeltic worth $7,972,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PCH. Norges Bank bought a new stake in shares of PotlatchDeltic during the fourth quarter valued at approximately $150,557,000. Schroder Investment Management Group increased its position in shares of PotlatchDeltic by 79.3% during the fourth quarter. Schroder Investment Management Group now owns 769,957 shares of the real estate investment trust’s stock valued at $37,805,000 after acquiring an additional 340,555 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of PotlatchDeltic by 14.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,456,211 shares of the real estate investment trust’s stock valued at $71,500,000 after acquiring an additional 188,333 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of PotlatchDeltic by 224.2% during the fourth quarter. Corient Private Wealth LLC now owns 159,175 shares of the real estate investment trust’s stock valued at $7,815,000 after acquiring an additional 110,078 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PotlatchDeltic by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,363,897 shares of the real estate investment trust’s stock valued at $66,967,000 after acquiring an additional 53,349 shares in the last quarter. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Trading Down 0.2 %

Shares of PCH stock opened at $40.28 on Monday. PotlatchDeltic Co. has a 12-month low of $39.86 and a 12-month high of $54.44. The company has a current ratio of 1.42, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $42.48 and its 200 day moving average is $44.99. The stock has a market capitalization of $3.20 billion, a P/E ratio of 70.67, a P/E/G ratio of 3.19 and a beta of 1.17.

PotlatchDeltic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.47%. The ex-dividend date is Friday, June 7th. PotlatchDeltic’s dividend payout ratio is currently 315.80%.

Analyst Ratings Changes

Separately, Royal Bank of Canada raised shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $45.00 to $46.00 in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $50.67.

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.