Westwood Holdings Group Inc. Has $65.55 Million Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Westwood Holdings Group Inc. raised its stake in PotlatchDeltic Co. (NASDAQ:PCH) by 3.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,664,242 shares of the real estate investment trust’s stock after purchasing an additional 58,111 shares during the period. Westwood Holdings Group Inc. owned approximately 2.11% of PotlatchDeltic worth $65,554,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in PotlatchDeltic by 0.5% during the first quarter. Vanguard Group Inc. now owns 11,736,374 shares of the real estate investment trust’s stock worth $551,844,000 after buying an additional 57,237 shares in the last quarter. Norges Bank bought a new stake in shares of PotlatchDeltic during the fourth quarter valued at approximately $150,557,000. Janus Henderson Group PLC raised its stake in shares of 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 purchasing an additional 212,121 shares in 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 purchasing an additional 340,555 shares during the period. Finally, Heartland Advisors Inc. increased its holdings in PotlatchDeltic by 6.4% in the 1st quarter. Heartland Advisors Inc. now owns 521,312 shares of the real estate investment trust’s stock valued at $24,512,000 after buying an additional 31,514 shares during the period. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Stock Down 1.0 %

Shares of PCH opened at $45.61 on Friday. The company has a market capitalization of $3.63 billion, a P/E ratio of 80.02 and a beta of 1.13. PotlatchDeltic Co. has a one year low of $37.06 and a one year high of $50.04. The business’s 50 day simple moving average is $42.78 and its 200-day simple moving average is $42.69. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.00.

PotlatchDeltic (NASDAQ:PCH) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.17 EPS for the quarter, hitting the consensus estimate 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 analysts’ expectations of $305.01 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, sell-side analysts predict that PotlatchDeltic Co. will post 0.02 EPS for the current fiscal year.

PotlatchDeltic Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Bank of America upgraded shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Thursday, September 12th. Truist Financial cut 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. Royal Bank of Canada upped their price target on PotlatchDeltic from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $47.67.

Insiders Place Their Bets

In related news, VP Ashlee Townsend Cribb sold 4,114 shares of the firm’s 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 transaction, the vice president now owns 29,039 shares in the company, valued at $1,251,871.29. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

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.