Assenagon Asset Management S.A. Raises Stock Position in PotlatchDeltic Co. (NASDAQ:PCH)

Assenagon Asset Management S.A. lifted its stake in PotlatchDeltic Co. (NASDAQ:PCHFree Report) by 25.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,904 shares of the real estate investment trust’s stock after buying an additional 10,251 shares during the period. Assenagon Asset Management S.A.’s holdings in PotlatchDeltic were worth $2,394,000 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. Windward Capital Management Co. CA boosted its holdings in shares of PotlatchDeltic by 0.4% in the fourth quarter. Windward Capital Management Co. CA now owns 72,976 shares of the real estate investment trust’s stock valued at $3,583,000 after acquiring an additional 269 shares during the period. Fifth Third Bancorp grew its position in PotlatchDeltic by 43.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,002 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 305 shares during the last quarter. Arizona State Retirement System raised its stake in PotlatchDeltic by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 22,754 shares of the real estate investment trust’s stock valued at $1,033,000 after acquiring an additional 307 shares during the last quarter. Franklin Resources Inc. grew its position in PotlatchDeltic by 1.5% in the 4th quarter. Franklin Resources Inc. now owns 27,287 shares of the real estate investment trust’s stock valued at $1,340,000 after buying an additional 395 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in PotlatchDeltic by 0.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 106,448 shares of the real estate investment trust’s stock valued at $5,005,000 after buying an additional 413 shares during the period. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Truist Financial reduced their target price on shares of PotlatchDeltic from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Wednesday, January 31st. Royal Bank of Canada upgraded shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $45.00 to $46.00 in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.67.

Check Out Our Latest Analysis on PCH

PotlatchDeltic Price Performance

Shares of PCH traded up $0.44 during trading hours on Tuesday, reaching $44.02. The company had a trading volume of 214,448 shares, compared to its average volume of 415,128. The company has a current ratio of 1.42, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. PotlatchDeltic Co. has a 12-month low of $39.86 and a 12-month high of $54.44. The firm has a 50 day simple moving average of $43.82 and a 200-day simple moving average of $45.53. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 77.23 and a beta of 1.19.

PotlatchDeltic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.80 dividend on an annualized basis and a yield of 4.09%. PotlatchDeltic’s dividend payout ratio (DPR) is presently 315.80%.

PotlatchDeltic Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PotlatchDeltic Co. (NASDAQ:PCHFree Report).

Institutional Ownership by Quarter for PotlatchDeltic (NASDAQ:PCH)

Receive News & Ratings for PotlatchDeltic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PotlatchDeltic and related companies with MarketBeat.com's FREE daily email newsletter.