Lazard Asset Management LLC Has $2.10 Million Position in PotlatchDeltic Co. (NASDAQ:PCH)

Lazard Asset Management LLC reduced its stake in PotlatchDeltic Co. (NASDAQ:PCH) by 15.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 53,546 shares of the real estate investment trust’s stock after selling 9,677 shares during the period. Lazard Asset Management LLC’s holdings in PotlatchDeltic were worth $2,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of PotlatchDeltic in the fourth quarter valued at about $217,145,000. Balyasny Asset Management L.P. boosted its position in shares of PotlatchDeltic by 256.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 567,371 shares of the real estate investment trust’s stock valued at $22,269,000 after acquiring an additional 408,355 shares during the period. Deprince Race & Zollo Inc. boosted its position in shares of PotlatchDeltic by 17.5% in the fourth quarter. Deprince Race & Zollo Inc. now owns 2,359,832 shares of the real estate investment trust’s stock valued at $92,623,000 after acquiring an additional 351,777 shares during the period. JPMorgan Chase & Co. boosted its position in shares of PotlatchDeltic by 27.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,145,473 shares of the real estate investment trust’s stock valued at $44,960,000 after acquiring an additional 245,026 shares during the period. Finally, Crestline Management LP bought a new stake in shares of PotlatchDeltic in the fourth quarter valued at about $7,227,000. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCH. DA Davidson set a $54.00 price objective on shares of PotlatchDeltic in a research report on Wednesday, January 29th. Truist Financial cut their price objective on shares of PotlatchDeltic from $44.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Finally, StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, PotlatchDeltic presently has a consensus rating of “Moderate Buy” and an average target price of $48.43.

PotlatchDeltic Stock Up 0.7%

PCH stock opened at $40.37 on Friday. The stock has a market capitalization of $3.17 billion, a P/E ratio of 144.18 and a beta of 1.16. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46. PotlatchDeltic Co. has a 12 month low of $36.82 and a 12 month high of $48.12. The firm has a 50-day moving average price of $41.03 and a 200-day moving average price of $42.16.

PotlatchDeltic (NASDAQ:PCH) last posted its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.13. The firm had revenue of $268.26 million during the quarter, compared to analysts’ expectations of $243.68 million. PotlatchDeltic had a net margin of 2.06% and a return on equity of 1.05%. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, equities research analysts anticipate that PotlatchDeltic Co. will post 0.8 EPS for the current fiscal year.

PotlatchDeltic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $0.45 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.80 dividend on an annualized basis and a yield of 4.46%. PotlatchDeltic’s dividend payout ratio (DPR) is presently 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.