Federated Hermes Inc. Cuts Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Federated Hermes Inc. decreased its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 11.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,890 shares of the real estate investment trust’s stock after selling 651 shares during the period. Federated Hermes Inc.’s holdings in PotlatchDeltic were worth $193,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in PotlatchDeltic by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 11,736,374 shares of the real estate investment trust’s stock valued at $551,844,000 after purchasing an additional 57,237 shares during the period. Westwood Holdings Group Inc. increased its position in PotlatchDeltic by 10.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,606,131 shares of the real estate investment trust’s stock valued at $75,520,000 after purchasing an additional 149,920 shares during the period. Janus Henderson Group PLC increased its position in PotlatchDeltic by 19.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,316,743 shares of the real estate investment trust’s stock valued at $61,913,000 after purchasing an additional 212,121 shares during the period. Schroder Investment Management Group increased its position in PotlatchDeltic by 79.3% during the 4th quarter. Schroder Investment Management Group now owns 769,957 shares of the real estate investment trust’s stock valued at $37,805,000 after purchasing an additional 340,555 shares during the period. Finally, Heartland Advisors Inc. grew its position in shares of PotlatchDeltic by 6.4% in the 1st quarter. Heartland Advisors Inc. now owns 521,312 shares of the real estate investment trust’s stock worth $24,512,000 after buying an additional 31,514 shares during the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Stock Performance

Shares of NASDAQ PCH opened at $45.54 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. PotlatchDeltic Co. has a 12 month low of $37.06 and a 12 month high of $50.04. The company has a 50 day simple moving average of $42.97 and a two-hundred day simple moving average of $42.62. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 79.89 and a beta of 1.13.

PotlatchDeltic (NASDAQ:PCH) last announced its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. PotlatchDeltic had a net margin of 3.45% and a return on equity of 1.14%. The business had revenue of $320.70 million during the quarter, compared to analysts’ expectations of $305.01 million. During the same period in the previous year, the business posted $0.06 EPS. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. As a group, analysts predict that PotlatchDeltic Co. will post 0.02 earnings per share for the current year.

PotlatchDeltic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.95%. The ex-dividend date is Friday, September 13th. PotlatchDeltic’s payout ratio is 315.79%.

Insider Buying and Selling at PotlatchDeltic

In related news, VP Ashlee Townsend Cribb sold 4,114 shares of the business’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 completion of the transaction, the vice president now directly owns 29,039 shares in the company, valued at approximately $1,251,871.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

PCH has been the topic of a number of analyst reports. Bank of America raised shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Thursday, September 12th. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Royal Bank of Canada lifted their target price on shares of PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Truist Financial lowered their target price on shares of PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. Three equities research 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 company currently has an average 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.