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

Public Employees Retirement System of Ohio grew its position in PotlatchDeltic Co. (NASDAQ:PCH) by 7.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 85,248 shares of the real estate investment trust’s stock after purchasing an additional 6,251 shares during the period. Public Employees Retirement System of Ohio owned about 0.11% of PotlatchDeltic worth $3,840,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Adelante Capital Management LLC boosted its stake in PotlatchDeltic by 3,486.3% in the third quarter. Adelante Capital Management LLC now owns 1,147,262 shares of the real estate investment trust’s stock worth $51,684,000 after purchasing an additional 1,115,272 shares in the last quarter. Deprince Race & Zollo Inc. raised its holdings in shares of PotlatchDeltic by 33.0% in the second quarter. Deprince Race & Zollo Inc. now owns 1,227,361 shares of the real estate investment trust’s stock valued at $48,346,000 after buying an additional 304,352 shares during the last quarter. Heitman Real Estate Securities LLC acquired a new position in PotlatchDeltic during the 3rd quarter worth about $8,153,000. Ceredex Value Advisors LLC bought a new stake in PotlatchDeltic during the 3rd quarter worth about $7,884,000. Finally, NFJ Investment Group LLC acquired a new stake in PotlatchDeltic in the 3rd quarter valued at about $5,878,000. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Stock Performance

PCH stock opened at $42.71 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $50.04. The business’s fifty day moving average is $42.90 and its 200-day moving average is $42.35. The company has a market cap of $3.36 billion, a P/E ratio of 203.38 and a beta of 1.14.

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, topping analysts’ consensus estimates of ($0.04) by $0.08. The firm had revenue of $255.10 million for the quarter, compared to analysts’ expectations of $241.35 million. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 earnings per share. Equities research analysts forecast that PotlatchDeltic Co. will post 0.15 EPS for the current year.

PotlatchDeltic Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BMO Capital Markets raised 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. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Thursday, September 12th. Royal Bank of Canada restated an “outperform” rating and set a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday, October 30th. Truist Financial raised their price target on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Finally, StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.