The Manufacturers Life Insurance Company Has $3.87 Million Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

The Manufacturers Life Insurance Company decreased its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 11.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,940 shares of the real estate investment trust’s stock after selling 10,860 shares during the period. The Manufacturers Life Insurance Company owned about 0.11% of PotlatchDeltic worth $3,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Mackenzie Financial Corp raised its stake in shares of PotlatchDeltic by 3.3% in the second quarter. Mackenzie Financial Corp now owns 9,050 shares of the real estate investment trust’s stock worth $356,000 after acquiring an additional 286 shares during the last quarter. Saturna Capital Corp increased its holdings in shares of PotlatchDeltic by 3.7% in the third quarter. Saturna Capital Corp now owns 10,031 shares of the real estate investment trust’s stock valued at $452,000 after purchasing an additional 356 shares in the last quarter. Arizona State Retirement System raised its position in PotlatchDeltic by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 22,256 shares of the real estate investment trust’s stock worth $877,000 after purchasing an additional 445 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in PotlatchDeltic by 3.6% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 16,456 shares of the real estate investment trust’s stock worth $741,000 after buying an additional 570 shares in the last quarter. Finally, Accordant Advisory Group Inc boosted its position in PotlatchDeltic by 1.2% in the 2nd quarter. Accordant Advisory Group Inc now owns 54,852 shares of the real estate investment trust’s stock valued at $2,161,000 after buying an additional 627 shares during the last quarter. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Price Performance

PotlatchDeltic stock opened at $44.27 on Friday. The firm has a market capitalization of $3.49 billion, a P/E ratio of 210.81 and a beta of 1.14. The business has a 50-day moving average of $43.01 and a 200-day moving average of $42.33. 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 earnings results on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.08. The firm had revenue of $255.10 million during the quarter, compared to the consensus estimate of $241.35 million. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 earnings per share. On average, equities analysts anticipate that PotlatchDeltic Co. will post 0.15 EPS for the current year.

PotlatchDeltic Dividend Announcement

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 dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.07%. PotlatchDeltic’s payout ratio is presently 857.14%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PCH shares. Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Thursday, September 12th. Royal Bank of Canada restated an “outperform” rating and set a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday, October 30th. BMO Capital Markets upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price target for the company in a research report on Friday. Truist Financial boosted their price target 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. Finally, StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.25.

PotlatchDeltic 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.