Clearbridge Investments LLC Acquires 7,643 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Clearbridge Investments LLC raised its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 355,235 shares of the real estate investment trust’s stock after acquiring an additional 7,643 shares during the period. Clearbridge Investments LLC owned approximately 0.45% of PotlatchDeltic worth $16,703,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Planned Solutions Inc. bought a new stake in shares of PotlatchDeltic during the fourth quarter worth approximately $60,000. Valeo Financial Advisors LLC bought a new stake in shares of PotlatchDeltic during the fourth quarter worth approximately $209,000. BTC Capital Management Inc. bought a new stake in shares of PotlatchDeltic during the first quarter worth approximately $277,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of PotlatchDeltic during the fourth quarter worth approximately $280,000. Finally, Radnor Capital Management LLC bought a new stake in shares of PotlatchDeltic during the first quarter worth approximately $404,000. Institutional investors own 86.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Truist Financial reduced their price objective on PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Royal Bank of Canada upgraded PotlatchDeltic from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $45.00 to $46.00 in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, PotlatchDeltic presently has an average rating of “Hold” and an average price target of $44.00.

PotlatchDeltic Price Performance

Shares of PCH stock traded down $0.44 during trading on Wednesday, hitting $40.74. The company had a trading volume of 376,644 shares, compared to its average volume of 425,497. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 1.42. The firm has a market capitalization of $3.24 billion, a P/E ratio of 72.25, a price-to-earnings-growth ratio of 9.65 and a beta of 1.12. The stock’s 50-day moving average price is $40.98 and its 200 day moving average price is $43.49. PotlatchDeltic Co. has a one year low of $37.06 and a one year high of $53.75.

PotlatchDeltic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a dividend of $0.45 per share. The ex-dividend date was Friday, June 7th. This represents a $1.80 annualized dividend and a yield of 4.42%. PotlatchDeltic’s dividend payout ratio is currently 315.80%.

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.