PotlatchDeltic Co. (NASDAQ:PCH) Shares Purchased by Quest Partners LLC

Quest Partners LLC boosted its position in PotlatchDeltic Co. (NASDAQ:PCH) by 872.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,997 shares of the real estate investment trust’s stock after purchasing an additional 18,837 shares during the quarter. Quest Partners LLC’s holdings in PotlatchDeltic were worth $946,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in PotlatchDeltic by 370.7% in the 1st quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 556 shares in the last quarter. Independence Bank of Kentucky purchased a new position in PotlatchDeltic during the 2nd quarter worth approximately $51,000. Beach Investment Counsel Inc. PA purchased a new position in PotlatchDeltic during the 2nd quarter worth approximately $59,000. Quarry LP purchased a new position in PotlatchDeltic during the 2nd quarter worth approximately $82,000. Finally, Park Place Capital Corp purchased a new position in PotlatchDeltic during the 2nd quarter worth approximately $105,000. 86.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PCH has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $50.00 price target on shares of PotlatchDeltic in a research note on Wednesday, October 30th. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Thursday, September 12th. Finally, Truist Financial lifted their target price on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $48.67.

PotlatchDeltic Stock Down 0.2 %

PotlatchDeltic stock opened at $41.58 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.93. PotlatchDeltic Co. has a 1-year low of $37.06 and a 1-year high of $50.04. The company has a market cap of $3.27 billion, a PE ratio of 198.00 and a beta of 1.14. The stock’s 50 day moving average price is $43.34 and its 200 day moving average price is $42.28.

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 analysts’ consensus estimates of ($0.04) by $0.08. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The firm had revenue of $255.10 million for the quarter, compared to the consensus estimate of $241.35 million. During the same period in the previous year, the business earned $0.14 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, sell-side analysts predict that PotlatchDeltic Co. will post 0.15 EPS for the current fiscal year.

PotlatchDeltic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.80 annualized dividend and a yield of 4.33%. PotlatchDeltic’s dividend payout ratio is presently 857.14%.

PotlatchDeltic 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.