State of New Jersey Common Pension Fund D Acquires 2,359 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

State of New Jersey Common Pension Fund D raised its holdings in PotlatchDeltic Co. (NASDAQ:PCH) by 5.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,495 shares of the real estate investment trust’s stock after buying an additional 2,359 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of PotlatchDeltic worth $2,050,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PCH. Bessemer Group Inc. grew its position in 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 buying an additional 556 shares in the last quarter. Independence Bank of Kentucky bought a new position in PotlatchDeltic in the second quarter worth $51,000. Beach Investment Counsel Inc. PA acquired a new stake in PotlatchDeltic during the second quarter worth $59,000. Quarry LP bought a new stake in PotlatchDeltic in the 2nd quarter valued at $82,000. Finally, Quest Partners LLC acquired a new position in shares of PotlatchDeltic in the 2nd quarter valued at $85,000. 86.06% of the stock is owned by institutional investors.

PotlatchDeltic Stock Performance

Shares of NASDAQ:PCH opened at $41.77 on Friday. The business has a fifty day moving average of $43.37 and a 200-day moving average of $42.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.24. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $50.04. The firm has a market cap of $3.29 billion, a PE ratio of 198.90 and a beta of 1.14.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.08. The firm had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $241.35 million. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. PotlatchDeltic’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 EPS. On average, equities research analysts predict that PotlatchDeltic Co. will post 0.15 EPS for the current fiscal year.

PotlatchDeltic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Friday, September 13th. PotlatchDeltic’s dividend payout ratio (DPR) is 857.14%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Tuesday. Truist Financial raised their target price on PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Thursday, September 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $50.00 price objective on shares of PotlatchDeltic in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, PotlatchDeltic currently has a consensus rating of “Hold” and an average target price of $48.67.

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.