Algert Global LLC Makes New Investment in PotlatchDeltic Co. (NASDAQ:PCH)

Algert Global LLC bought a new stake in PotlatchDeltic Co. (NASDAQ:PCH) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,008 shares of the real estate investment trust’s stock, valued at approximately $315,000.

Other large investors also recently modified their holdings of the company. Mackenzie Financial Corp grew its position in shares of PotlatchDeltic by 3.3% in the 2nd quarter. Mackenzie Financial Corp now owns 9,050 shares of the real estate investment trust’s stock valued at $356,000 after purchasing an additional 286 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of PotlatchDeltic by 0.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 106,448 shares of the real estate investment trust’s stock valued at $5,005,000 after buying an additional 413 shares during the period. Arizona State Retirement System increased its position in shares of PotlatchDeltic by 2.0% during the second quarter. Arizona State Retirement System now owns 22,256 shares of the real estate investment trust’s stock worth $877,000 after acquiring an additional 445 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of PotlatchDeltic by 2.6% during the first quarter. State of Michigan Retirement System now owns 19,531 shares of the real estate investment trust’s stock worth $918,000 after acquiring an additional 500 shares during the period. Finally, Congress Asset Management Co. MA boosted its stake in PotlatchDeltic by 0.3% in the 4th quarter. Congress Asset Management Co. MA now owns 162,366 shares of the real estate investment trust’s stock worth $7,972,000 after purchasing an additional 502 shares during the period. 86.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Ashlee Townsend Cribb sold 4,114 shares of PotlatchDeltic stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $43.11, for a total transaction of $177,354.54. Following the completion of the transaction, the vice president now directly owns 29,039 shares in the company, valued at approximately $1,251,871.29. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Thursday, September 12th. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Truist Financial decreased their price target on shares of PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. Finally, Royal Bank of Canada boosted their price objective on shares of PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, PotlatchDeltic has a consensus rating of “Hold” and a consensus price target of $47.67.

PotlatchDeltic Trading Down 0.0 %

Shares of PotlatchDeltic stock opened at $43.60 on Wednesday. The stock has a market cap of $3.47 billion, a P/E ratio of 76.49 and a beta of 1.13. The company has a quick ratio of 1.00, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. PotlatchDeltic Co. has a 12-month low of $37.06 and a 12-month high of $50.04. The business’s 50 day moving average is $43.37 and its 200-day moving average is $42.54.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. PotlatchDeltic had a net margin of 3.45% and a return on equity of 1.14%. The firm had revenue of $320.70 million for the quarter, compared to analyst estimates of $305.01 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. Equities research analysts predict that PotlatchDeltic Co. will post 0.02 earnings per share for the current fiscal year.

PotlatchDeltic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date was Friday, September 13th. PotlatchDeltic’s dividend payout ratio (DPR) is presently 315.79%.

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.