M&T Bank Corp Sells 977 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

M&T Bank Corp cut its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,801 shares of the real estate investment trust’s stock after selling 977 shares during the period. M&T Bank Corp owned about 0.07% of PotlatchDeltic worth $2,559,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Independence Bank of Kentucky purchased a new stake in PotlatchDeltic during the second quarter worth $51,000. Quarry LP purchased a new stake in shares of PotlatchDeltic during the 2nd quarter worth $82,000. Quest Partners LLC bought a new stake in PotlatchDeltic during the second quarter valued at about $85,000. Systematic Financial Management LP purchased a new position in PotlatchDeltic in the third quarter valued at about $166,000. Finally, Cetera Advisors LLC bought a new position in PotlatchDeltic in the first quarter worth about $203,000. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PCH shares. BMO Capital Markets upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a report on Friday, December 6th. Truist Financial lifted their price target on shares of PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and set a $50.00 target price on shares of PotlatchDeltic in a research note on Wednesday, October 30th. Finally, Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, PotlatchDeltic has an average rating of “Moderate Buy” and a consensus target price of $49.25.

PotlatchDeltic Price Performance

Shares of PCH opened at $42.71 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.93. The company’s fifty day moving average price is $42.90 and its 200-day moving average price is $42.35. PotlatchDeltic Co. has a 1-year low of $37.06 and a 1-year high of $50.04. The firm has a market capitalization of $3.36 billion, a PE ratio of 203.38 and a beta of 1.14.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.08. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The business had revenue of $255.10 million for the quarter, compared to the consensus estimate of $241.35 million. During the same quarter in the previous year, the business earned $0.14 EPS. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, equities research analysts predict that PotlatchDeltic Co. will post 0.15 EPS for the current year.

PotlatchDeltic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Monday, December 16th. PotlatchDeltic’s dividend payout ratio is presently 857.14%.

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.