Mutual of America Capital Management LLC Cuts Stock Position in PotlatchDeltic Co. (NASDAQ:PCH)

Mutual of America Capital Management LLC cut its holdings in PotlatchDeltic Co. (NASDAQ:PCH) by 1.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 192,844 shares of the real estate investment trust’s stock after selling 3,052 shares during the quarter. Mutual of America Capital Management LLC owned 0.24% of PotlatchDeltic worth $7,596,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in PotlatchDeltic in the fourth quarter worth $150,557,000. Russell Investments Group Ltd. lifted its position in PotlatchDeltic by 353.2% in the first quarter. Russell Investments Group Ltd. now owns 455,008 shares of the real estate investment trust’s stock worth $21,394,000 after buying an additional 354,616 shares during the last quarter. Schroder Investment Management Group lifted its position in PotlatchDeltic by 79.3% in the fourth quarter. Schroder Investment Management Group now owns 769,957 shares of the real estate investment trust’s stock worth $37,805,000 after buying an additional 340,555 shares during the last quarter. Janus Henderson Group PLC lifted its position 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 worth $61,913,000 after buying an additional 212,121 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in PotlatchDeltic by 14.9% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,456,211 shares of the real estate investment trust’s stock worth $71,500,000 after buying an additional 188,333 shares during the last quarter. 86.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PotlatchDeltic

In related news, VP Ashlee Townsend Cribb sold 4,114 shares of PotlatchDeltic stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $43.11, for a total value of $177,354.54. Following the completion of the sale, the vice president now directly owns 29,039 shares in the company, valued at $1,251,871.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

PotlatchDeltic Stock Up 0.9 %

NASDAQ: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 market cap of $3.64 billion, a price-to-earnings ratio of 80.84, a price-to-earnings-growth ratio of 1,042.57 and a beta of 1.13. The stock has a fifty day simple moving average of $42.53 and a 200-day simple moving average of $42.68. 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 (NASDAQ:PCH) last released its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $320.70 million during the quarter, compared to the consensus estimate of $305.01 million. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The firm’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share.

PotlatchDeltic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.80 annualized dividend and a dividend yield of 3.91%. PotlatchDeltic’s payout ratio is currently 315.80%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Royal Bank of Canada raised their price target on PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Truist Financial decreased their target price on PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. Finally, Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Thursday, September 12th. 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, PotlatchDeltic has an average rating of “Hold” and a consensus target price of $47.67.

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.