Thrivent Financial for Lutherans Cuts Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Thrivent Financial for Lutherans lowered its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,359 shares of the real estate investment trust’s stock after selling 678 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PotlatchDeltic were worth $763,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Bessemer Group Inc. boosted its stake in PotlatchDeltic by 370.7% in the first quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 556 shares in the last quarter. Independence Bank of Kentucky acquired a new stake in shares of PotlatchDeltic during the second quarter worth about $51,000. Beach Investment Counsel Inc. PA acquired a new stake in shares of PotlatchDeltic during the second quarter worth about $59,000. Quest Partners LLC acquired a new stake in shares of PotlatchDeltic during the second quarter worth about $85,000. Finally, Park Place Capital Corp acquired a new stake in shares of PotlatchDeltic during the second quarter worth about $105,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Stock Down 0.5 %

PCH stock opened at $43.62 on Tuesday. The stock has a market capitalization of $3.47 billion, a P/E ratio of 76.53 and a beta of 1.13. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.29. PotlatchDeltic Co. has a one year low of $37.06 and a one year high of $50.04. The company has a 50 day moving average price of $43.41 and a two-hundred day moving average price of $42.56.

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

PotlatchDeltic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.80 dividend on an annualized basis and a yield of 4.13%. PotlatchDeltic’s dividend payout ratio is currently 315.79%.

Analyst Ratings Changes

A number of brokerages have issued reports on PCH. Bank of America raised shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a report on Thursday, September 12th. Truist Financial dropped their target price on shares of PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada increased their target price on shares of PotlatchDeltic from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, PotlatchDeltic has a consensus rating of “Hold” and an average price target of $47.67.

Insiders Place Their Bets

In other news, VP Ashlee Townsend Cribb sold 4,114 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $43.11, for a total value of $177,354.54. Following the sale, the vice president now owns 29,039 shares in the company, valued at approximately $1,251,871.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

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.