First Mercantile Trust Co. trimmed its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 28.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,705 shares of the real estate investment trust’s stock after selling 667 shares during the period. First Mercantile Trust Co.’s holdings in PotlatchDeltic were worth $91,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in PCH. Janney Montgomery Scott LLC lifted its stake in PotlatchDeltic by 9.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,553 shares of the real estate investment trust’s stock valued at $453,000 after acquiring an additional 755 shares during the period. Envestnet Asset Management Inc. acquired a new stake in PotlatchDeltic during the 1st quarter valued at approximately $221,000. The PNC Financial Services Group Inc. lifted its stake in PotlatchDeltic by 15.1% during the 1st quarter. The PNC Financial Services Group Inc. now owns 8,999 shares of the real estate investment trust’s stock valued at $475,000 after acquiring an additional 1,181 shares during the period. Swiss National Bank lifted its stake in PotlatchDeltic by 1.0% during the 1st quarter. Swiss National Bank now owns 152,722 shares of the real estate investment trust’s stock valued at $8,082,000 after acquiring an additional 1,500 shares during the period. Finally, Lebenthal Global Advisors LLC acquired a new stake in PotlatchDeltic during the 1st quarter valued at approximately $256,000. Institutional investors and hedge funds own 82.60% of the company’s stock.
Several analysts have commented on PCH shares. Zacks Investment Research upgraded shares of PotlatchDeltic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 7th. Raymond James decreased their target price on shares of PotlatchDeltic from $75.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Friday, August 27th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $65.33.
PotlatchDeltic (NASDAQ:PCH) last posted its earnings results on Sunday, July 25th. The real estate investment trust reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.11. PotlatchDeltic had a net margin of 34.43% and a return on equity of 35.78%. During the same period in the previous year, the company posted $0.04 earnings per share. Equities analysts expect that PotlatchDeltic Co. will post 6.56 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 15th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.15%. The ex-dividend date is Tuesday, September 14th. PotlatchDeltic’s payout ratio is presently 55.78%.
PotlatchDeltic Corp. operates as a real estate investment trust. The firm engages in the ownership and management of acres of timberlands. It operates through the following segments: Timberlands, Wood Products and Real Estate. The Timberland segment sells delivered logs, pulpwood, sawlogs, and stumpage.
Want to see what other hedge funds are holding PCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PotlatchDeltic Co. (NASDAQ:PCH).
Receive News & Ratings for PotlatchDeltic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PotlatchDeltic and related companies with MarketBeat.com's FREE daily email newsletter.