Short Interest in PotlatchDeltic Co. (NASDAQ:PCH) Decreases By 15.1%

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

Hedge Funds Weigh In On PotlatchDeltic

A number of institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of PotlatchDeltic in the 4th quarter worth about $150,557,000. Russell Investments Group Ltd. raised its stake in shares of PotlatchDeltic by 353.2% during the first quarter. Russell Investments Group Ltd. now owns 455,008 shares of the real estate investment trust’s stock worth $21,394,000 after acquiring an additional 354,616 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of PotlatchDeltic by 79.3% in the 4th quarter. Schroder Investment Management Group now owns 769,957 shares of the real estate investment trust’s stock worth $37,805,000 after acquiring an additional 340,555 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of PotlatchDeltic by 19.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,316,743 shares of the real estate investment trust’s stock valued at $61,913,000 after purchasing an additional 212,121 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its holdings in shares of PotlatchDeltic by 14.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,456,211 shares of the real estate investment trust’s stock valued at $71,500,000 after purchasing an additional 188,333 shares during the last quarter. 86.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

PotlatchDeltic Price Performance

PotlatchDeltic stock traded down $0.26 during midday trading on Tuesday, reaching $37.52. 154,789 shares of the stock were exchanged, compared to its average volume of 421,949. The company’s fifty day moving average is $41.72 and its 200-day moving average is $44.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 1.42. PotlatchDeltic has a 52 week low of $37.21 and a 52 week high of $54.44. The firm has a market cap of $2.98 billion, a PE ratio of 65.91, a PEG ratio of 3.12 and a beta of 1.12.

PotlatchDeltic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.80%. PotlatchDeltic’s dividend payout ratio (DPR) is presently 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.