Millennium Management LLC Decreases Position in PotlatchDeltic Co. (NASDAQ:PCH)

Millennium Management LLC trimmed its holdings in PotlatchDeltic Co. (NASDAQ:PCH) by 42.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 294,085 shares of the real estate investment trust’s stock after selling 216,105 shares during the period. Millennium Management LLC owned 0.37% of PotlatchDeltic worth $11,584,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. Bessemer Group Inc. lifted its position in shares of PotlatchDeltic by 370.7% during the first quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 556 shares in the last quarter. Independence Bank of Kentucky purchased a new stake in shares of PotlatchDeltic during the second quarter worth approximately $51,000. Beach Investment Counsel Inc. PA acquired a new stake in shares of PotlatchDeltic in the 2nd quarter worth $59,000. Quest Partners LLC acquired a new position in PotlatchDeltic during the second quarter worth $85,000. Finally, Park Place Capital Corp acquired a new stake in shares of PotlatchDeltic in the 2nd quarter worth approximately $105,000. 86.06% of the stock is owned by hedge funds and other institutional investors.

PotlatchDeltic Trading Down 0.5 %

PotlatchDeltic stock opened at $43.62 on Tuesday. The stock has a market cap of $3.47 billion, a P/E ratio of 76.53 and a beta of 1.13. PotlatchDeltic Co. has a 12 month low of $37.06 and a 12 month high of $50.04. The company has a quick ratio of 1.00, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $43.41 and its 200-day simple moving average is $42.56.

PotlatchDeltic (NASDAQ:PCH) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The firm had revenue of $320.70 million during 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 company’s revenue was up 30.3% on a year-over-year basis. As a group, sell-side analysts forecast that PotlatchDeltic Co. will post 0.02 EPS for the current fiscal year.

PotlatchDeltic Dividend Announcement

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

Insider Transactions at PotlatchDeltic

In other PotlatchDeltic 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 transaction of $177,354.54. Following the sale, the vice president now directly owns 29,039 shares of the company’s stock, valued at approximately $1,251,871.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PCH has been the topic of several analyst reports. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. 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. Royal Bank of Canada raised their price objective on PotlatchDeltic from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.