Public Employees Retirement System of Ohio Has $3.84 Million Stake in PotlatchDeltic Co. (NASDAQ:PCH)

Public Employees Retirement System of Ohio lifted its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 7.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,248 shares of the real estate investment trust’s stock after purchasing an additional 6,251 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in PotlatchDeltic were worth $3,840,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Independence Bank of Kentucky bought a new stake in PotlatchDeltic in the 2nd quarter valued at $51,000. Quarry LP bought a new stake in shares of PotlatchDeltic in the second quarter valued at about $82,000. Quest Partners LLC acquired a new position in shares of PotlatchDeltic during the second quarter worth about $85,000. Systematic Financial Management LP bought a new position in shares of PotlatchDeltic during the third quarter worth about $166,000. Finally, Cetera Advisors LLC acquired a new stake in PotlatchDeltic in the 1st quarter valued at approximately $203,000. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Stock Performance

NASDAQ PCH opened at $42.71 on Monday. The firm has a market capitalization of $3.36 billion, a P/E ratio of 203.38 and a beta of 1.14. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average price is $42.90 and its two-hundred day moving average price is $42.35. PotlatchDeltic Co. has a 1 year low of $37.06 and a 1 year high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The company had revenue of $255.10 million for the quarter, compared to analysts’ expectations of $241.35 million. During the same period in the prior year, the firm earned $0.14 EPS. PotlatchDeltic’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, research analysts anticipate that PotlatchDeltic Co. will post 0.15 EPS for the current year.

PotlatchDeltic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 4.21%. PotlatchDeltic’s dividend payout ratio is currently 857.14%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. BMO Capital Markets upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a research note on Friday, December 6th. StockNews.com upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Thursday, September 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 target price on shares of PotlatchDeltic in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.25.

PotlatchDeltic Company 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.