Swiss National Bank Sells 1,300 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Swiss National Bank decreased its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 155,314 shares of the real estate investment trust’s stock after selling 1,300 shares during the period. Swiss National Bank owned about 0.20% of PotlatchDeltic worth $6,997,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Deprince Race & Zollo Inc. boosted its stake in PotlatchDeltic by 33.0% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,227,361 shares of the real estate investment trust’s stock worth $48,346,000 after purchasing an additional 304,352 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of PotlatchDeltic by 19.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,316,743 shares of the real estate investment trust’s stock valued at $61,913,000 after purchasing an additional 212,121 shares during the last quarter. Ceredex Value Advisors LLC bought a new stake in shares of PotlatchDeltic in the third quarter worth about $7,884,000. Renaissance Technologies LLC lifted its position in shares of PotlatchDeltic by 2,054.5% in the second quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust’s stock worth $4,053,000 after buying an additional 98,123 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in PotlatchDeltic by 73.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 154,568 shares of the real estate investment trust’s stock valued at $6,963,000 after buying an additional 65,682 shares during the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PotlatchDeltic Price Performance

Shares of PCH stock opened at $44.52 on Wednesday. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 212.00 and a beta of 1.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.24. The stock’s 50-day simple moving average is $43.22 and its 200-day simple moving average is $42.29. PotlatchDeltic Co. has a fifty-two week low of $37.06 and a fifty-two week high of $50.04.

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

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.