Victory Capital Management Inc. Sells 80,118 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Victory Capital Management Inc. decreased its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 77.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,210 shares of the real estate investment trust’s stock after selling 80,118 shares during the period. Victory Capital Management Inc.’s holdings in PotlatchDeltic were worth $914,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in PotlatchDeltic during the fourth quarter worth about $150,557,000. Russell Investments Group Ltd. lifted its stake in PotlatchDeltic by 353.2% during 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 purchasing an additional 354,616 shares during the last quarter. Schroder Investment Management Group lifted its stake in PotlatchDeltic by 79.3% during 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 purchasing an additional 340,555 shares during the last quarter. Janus Henderson Group PLC lifted its stake in PotlatchDeltic by 19.2% during 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 purchasing an additional 212,121 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in PotlatchDeltic by 14.9% during 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 purchasing an additional 188,333 shares during the last quarter. Institutional investors own 86.06% of the company’s stock.

Insider Transactions at PotlatchDeltic

In related news, VP Ashlee Townsend Cribb sold 4,114 shares of PotlatchDeltic stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $43.11, for a total transaction of $177,354.54. Following 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 available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada boosted their target price on PotlatchDeltic from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Thursday, September 12th. Finally, Truist Financial lowered their target price on 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $47.67.

PotlatchDeltic Stock Down 1.0 %

Shares of NASDAQ:PCH opened at $45.61 on Friday. PotlatchDeltic Co. has a 1 year low of $37.06 and a 1 year high of $50.04. The company has a market cap of $3.63 billion, a PE ratio of 80.02 and a beta of 1.13. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.00. The stock’s 50-day moving average is $42.67 and its 200 day moving average is $42.70.

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

PotlatchDeltic Dividend Announcement

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

About PotlatchDeltic

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.