Principal Financial Group Inc. Cuts Position in PotlatchDeltic Co. (NASDAQ:PCH)

Principal Financial Group Inc. lessened its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 37.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 167,201 shares of the real estate investment trust’s stock after selling 99,438 shares during the period. Principal Financial Group Inc. owned approximately 0.21% of PotlatchDeltic worth $7,532,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Deprince Race & Zollo Inc. increased its stake in shares of PotlatchDeltic by 33.0% during the second quarter. Deprince Race & Zollo Inc. now owns 1,227,361 shares of the real estate investment trust’s stock worth $48,346,000 after purchasing an additional 304,352 shares in the last quarter. Janus Henderson Group PLC raised its holdings in PotlatchDeltic by 19.2% in the first 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 acquiring an additional 212,121 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in PotlatchDeltic during the third quarter worth approximately $7,884,000. Westwood Holdings Group Inc. lifted its holdings in shares of PotlatchDeltic by 10.3% in 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 last quarter. Finally, Renaissance Technologies LLC increased its stake in PotlatchDeltic by 2,054.5% in the second quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust’s stock valued at $4,053,000 after purchasing an additional 98,123 shares during the period. Institutional investors and hedge funds own 86.06% of the company’s stock.

PotlatchDeltic Price Performance

Shares of NASDAQ:PCH opened at $41.66 on Wednesday. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 198.38 and a beta of 1.14. The business has a fifty day simple moving average of $43.35 and a 200 day simple moving average of $42.29. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. PotlatchDeltic Co. has a 1 year low of $37.06 and a 1 year high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $241.35 million. During the same period in the previous year, the business posted $0.14 EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, sell-side analysts predict that PotlatchDeltic Co. will post 0.15 earnings per share for the current fiscal year.

PotlatchDeltic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Friday, September 13th. PotlatchDeltic’s payout ratio is currently 857.14%.

Analyst Ratings Changes

PCH has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 target price on shares of PotlatchDeltic in a report on Wednesday, October 30th. Bank of America raised shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Thursday, September 12th. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Truist Financial increased their price objective on shares of PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $48.67.

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.