PotlatchDeltic Co. (NASDAQ:PCH) Shares Sold by Argent Trust Co

Argent Trust Co lessened its stake in PotlatchDeltic Co. (NASDAQ:PCH) by 10.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,694 shares of the real estate investment trust’s stock after selling 1,750 shares during the quarter. Argent Trust Co’s holdings in PotlatchDeltic were worth $618,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Bessemer Group Inc. raised its position in shares of PotlatchDeltic by 370.7% in the 1st quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 556 shares during the period. Independence Bank of Kentucky purchased a new position in shares of PotlatchDeltic in the 2nd quarter worth about $51,000. Beach Investment Counsel Inc. PA acquired a new position in shares of PotlatchDeltic in the 2nd quarter valued at about $59,000. Quest Partners LLC purchased a new position in PotlatchDeltic in the second quarter valued at approximately $85,000. Finally, Park Place Capital Corp acquired a new position in PotlatchDeltic during the second quarter valued at approximately $105,000. 86.06% of the stock is owned by hedge funds and other institutional investors.

PotlatchDeltic Price Performance

PCH opened at $46.08 on Friday. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $50.04. The company has a current ratio of 1.29, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 80.84, a PEG ratio of 1,042.57 and a beta of 1.13. The company has a fifty day simple moving average of $42.53 and a 200 day simple moving average of $42.68.

PotlatchDeltic (NASDAQ:PCH) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The business had revenue of $320.70 million for the quarter, compared to analyst estimates of $305.01 million. During the same period in the previous year, the company earned $0.06 earnings per share. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year.

PotlatchDeltic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Friday, September 13th. PotlatchDeltic’s payout ratio is 315.80%.

Insider Activity

In related news, VP Ashlee Townsend Cribb sold 4,114 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $43.11, for a total value of $177,354.54. Following the sale, the vice president now directly owns 29,039 shares of the company’s stock, valued at $1,251,871.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a report on Thursday, September 12th. Truist Financial reduced their price objective on PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. Finally, Royal Bank of Canada increased their target price on PotlatchDeltic from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.67.

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.