Norges Bank Takes $150.56 Million Position in PotlatchDeltic Co. (NASDAQ:PCH)

Norges Bank acquired a new stake in PotlatchDeltic Co. (NASDAQ:PCH) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,066,335 shares of the real estate investment trust’s stock, valued at approximately $150,557,000.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in shares of PotlatchDeltic by 43.8% during the third quarter. Fifth Third Bancorp now owns 1,002 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 305 shares during the last quarter. Principal Financial Group Inc. raised its position in PotlatchDeltic by 2.1% during the 3rd quarter. Principal Financial Group Inc. now owns 325,425 shares of the real estate investment trust’s stock worth $14,771,000 after purchasing an additional 6,575 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in PotlatchDeltic by 16.8% during the 3rd quarter. Victory Capital Management Inc. now owns 151,074 shares of the real estate investment trust’s stock worth $6,857,000 after buying an additional 21,696 shares during the period. Assenagon Asset Management S.A. grew its position in shares of PotlatchDeltic by 7.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 41,585 shares of the real estate investment trust’s stock valued at $1,888,000 after buying an additional 2,878 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of PotlatchDeltic by 1.4% in the third quarter. Arizona State Retirement System now owns 22,754 shares of the real estate investment trust’s stock valued at $1,033,000 after buying an additional 307 shares during the period. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on PCH. Truist Financial cut their price objective on PotlatchDeltic from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Wednesday, January 31st. Royal Bank of Canada upgraded shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $45.00 to $46.00 in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, PotlatchDeltic presently has an average rating of “Hold” and an average price target of $50.67.

PotlatchDeltic Stock Down 2.1 %

Shares of NASDAQ:PCH opened at $42.75 on Friday. PotlatchDeltic Co. has a 1 year low of $39.86 and a 1 year high of $54.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 1.12. The business’s 50-day moving average is $43.74 and its 200-day moving average is $45.50. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 75.00, a P/E/G ratio of 3.45 and a beta of 1.19.

PotlatchDeltic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, June 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.21%. PotlatchDeltic’s payout ratio is presently 315.80%.

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.