PotlatchDeltic Co. (NASDAQ:PCH) Sees Significant Decline in Short Interest

PotlatchDeltic Co. (NASDAQ:PCH) was the target of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 1,070,000 shares, a decline of 15.1% from the May 31st total of 1,260,000 shares. Based on an average trading volume of 393,000 shares, the short-interest ratio is currently 2.7 days.

Institutional Investors Weigh In On PotlatchDeltic

Large investors have recently modified their holdings of the company. Lazard Asset Management LLC boosted its holdings in shares of PotlatchDeltic by 1.1% in the 3rd quarter. Lazard Asset Management LLC now owns 134,492 shares of the real estate investment trust’s stock valued at $6,104,000 after buying an additional 1,522 shares in the last quarter. VitalStone Financial LLC boosted its holdings in shares of PotlatchDeltic by 109.6% in the 3rd quarter. VitalStone Financial LLC now owns 3,608 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 1,887 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of PotlatchDeltic by 92.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 27,467 shares of the real estate investment trust’s stock valued at $1,246,000 after buying an additional 13,192 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of PotlatchDeltic by 8.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 77,631 shares of the real estate investment trust’s stock valued at $3,524,000 after buying an additional 5,781 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in PotlatchDeltic by 34.1% during the 4th quarter. SG Americas Securities LLC now owns 12,337 shares of the real estate investment trust’s stock worth $606,000 after purchasing an additional 3,135 shares during the period. 86.06% of the stock is owned by hedge funds and other institutional investors.

PotlatchDeltic Stock Up 0.5 %

PCH traded up $0.19 during trading hours on Tuesday, hitting $37.97. 599,647 shares of the company’s stock were exchanged, compared to its average volume of 425,508. PotlatchDeltic has a 12-month low of $37.21 and a 12-month high of $54.44. The firm has a 50 day moving average of $41.72 and a 200 day moving average of $44.53. The company has a current ratio of 1.42, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. The firm has a market cap of $3.02 billion, a P/E ratio of 65.91, a price-to-earnings-growth ratio of 3.12 and a beta of 1.12.

PotlatchDeltic Announces Dividend

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 $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend was Friday, June 7th. PotlatchDeltic’s dividend payout ratio is presently 315.80%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada raised shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $45.00 to $46.00 in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $50.67.

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.