PotlatchDeltic Co. (NASDAQ:PCH) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 27.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 348,063 shares of the real estate investment trust’s stock after selling 133,734 shares during the quarter. Millennium Management LLC owned about 0.44% of PotlatchDeltic worth $13,661,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP raised its stake in PotlatchDeltic by 224.2% during the 4th quarter. Quarry LP now owns 697 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 482 shares in the last quarter. Fifth Third Bancorp grew its position in PotlatchDeltic by 259.7% during the 4th quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 818 shares during the last quarter. Sterling Capital Management LLC grew its position in PotlatchDeltic by 806.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,503 shares of the real estate investment trust’s stock worth $98,000 after purchasing an additional 2,227 shares during the last quarter. GeoWealth Management LLC purchased a new position in PotlatchDeltic during the 4th quarter worth $131,000. Finally, KBC Group NV grew its position in PotlatchDeltic by 67.3% during the 4th quarter. KBC Group NV now owns 3,685 shares of the real estate investment trust’s stock worth $145,000 after purchasing an additional 1,483 shares during the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCH has been the topic of several research reports. Wall Street Zen raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Truist Financial lowered their price objective on shares of PotlatchDeltic from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Finally, DA Davidson set a $54.00 price objective on shares of PotlatchDeltic in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, PotlatchDeltic has an average rating of “Moderate Buy” and an average target price of $48.43.

PotlatchDeltic Stock Up 0.2%

Shares of NASDAQ:PCH opened at $38.39 on Friday. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 137.11 and a beta of 1.16. The firm’s 50-day simple moving average is $40.58 and its 200-day simple moving average is $42.08. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. PotlatchDeltic Co. has a fifty-two week low of $36.82 and a fifty-two week high of $48.12.

PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.13. The business had revenue of $268.26 million for the quarter, compared to the consensus estimate of $243.68 million. PotlatchDeltic had a net margin of 2.06% and a return on equity of 1.05%. The company’s revenue was up 17.6% on a year-over-year basis. As a group, equities research analysts predict that PotlatchDeltic Co. will post 0.8 earnings per share for the current year.

PotlatchDeltic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend is Friday, June 6th. PotlatchDeltic’s payout ratio is 295.08%.

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.