PotlatchDeltic Co. (NASDAQ:PCH) Stock Holdings Lessened by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 47.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,653 shares of the real estate investment trust’s stock after selling 14,383 shares during the quarter. Franklin Resources Inc.’s holdings in PotlatchDeltic were worth $673,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in PotlatchDeltic in the 2nd quarter worth about $82,000. Quest Partners LLC bought a new stake in shares of PotlatchDeltic in the 2nd quarter valued at approximately $85,000. Systematic Financial Management LP acquired a new position in PotlatchDeltic in the third quarter worth approximately $166,000. FMR LLC raised its position in PotlatchDeltic by 20.4% during the third quarter. FMR LLC now owns 4,329 shares of the real estate investment trust’s stock valued at $195,000 after acquiring an additional 733 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. bought a new position in PotlatchDeltic during the third quarter valued at approximately $219,000. 86.06% of the stock is owned by hedge funds and other institutional investors.

PotlatchDeltic Stock Down 0.5 %

PCH opened at $38.88 on Monday. The company has a market capitalization of $3.06 billion, a P/E ratio of 185.14 and a beta of 1.14. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.93. The firm’s fifty day moving average price is $42.15 and its two-hundred day moving average price is $42.16. PotlatchDeltic Co. has a fifty-two week low of $37.06 and a fifty-two week high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last released its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 earned $0.14 earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. On average, analysts anticipate that PotlatchDeltic Co. will post 0.15 EPS for the current year.

PotlatchDeltic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 annualized dividend and a yield of 4.63%. PotlatchDeltic’s dividend payout ratio is 857.14%.

Wall Street Analysts Forecast Growth

PCH has been the topic of several recent research reports. Truist Financial raised their target price on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Thursday, September 12th. Raymond James upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Monday, December 23rd. BMO Capital Markets upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a report on Friday, December 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $50.00 price objective on shares of PotlatchDeltic in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.40.

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.