Public Employees Retirement System of Ohio Has $3.71 Million Stake in PotlatchDeltic Co. (NASDAQ:PCH)

Public Employees Retirement System of Ohio reduced its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 8.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,845 shares of the real estate investment trust’s stock after selling 6,928 shares during the period. Public Employees Retirement System of Ohio owned about 0.10% of PotlatchDeltic worth $3,707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PCH. Bessemer Group Inc. increased its position in PotlatchDeltic by 370.7% during the 1st quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 556 shares during the period. Valeo Financial Advisors LLC bought a new stake in PotlatchDeltic in the 4th quarter valued at about $209,000. Vanguard Personalized Indexing Management LLC bought a new position in PotlatchDeltic in the fourth quarter worth approximately $280,000. BTC Capital Management Inc. bought a new position in shares of PotlatchDeltic in the 1st quarter worth $277,000. Finally, BOKF NA acquired a new stake in PotlatchDeltic in the 1st quarter valued at $291,000. Institutional investors own 86.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PCH. Truist Financial reduced their price objective on shares of PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. StockNews.com cut shares of PotlatchDeltic from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Royal Bank of Canada lifted their target price on shares of PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.00.

PotlatchDeltic Stock Down 2.7 %

PCH opened at $43.18 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average price of $40.90 and a 200-day moving average price of $43.30. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $52.13. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 75.76, a PEG ratio of 109.23 and a beta of 1.12.

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, meeting the consensus estimate of $0.17. The company had revenue of $320.70 million during the quarter, compared to analyst estimates of $305.01 million. PotlatchDeltic had a net margin of 3.45% and a return on equity of 1.14%. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 earnings per share. Equities research analysts forecast that PotlatchDeltic Co. will post 0.05 earnings per share for the current year.

PotlatchDeltic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a $0.45 dividend. The ex-dividend date was Friday, June 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.17%. PotlatchDeltic’s payout ratio is currently 315.80%.

Insiders Place Their Bets

In related news, VP Ashlee Townsend Cribb sold 4,114 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $43.11, for a total transaction of $177,354.54. Following the completion of the transaction, the vice president now owns 29,039 shares in the company, valued at $1,251,871.29. The sale 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.