Park Place Capital Corp Takes $105,000 Position in PotlatchDeltic Co. (NASDAQ:PCH)

Park Place Capital Corp bought a new stake in PotlatchDeltic Co. (NASDAQ:PCH) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,670 shares of the real estate investment trust’s stock, valued at approximately $105,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in PotlatchDeltic by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 11,736,374 shares of the real estate investment trust’s stock valued at $551,844,000 after acquiring an additional 57,237 shares during the last quarter. Norges Bank bought a new position in PotlatchDeltic during the 4th quarter valued at $150,557,000. Westwood Holdings Group Inc. boosted its stake in PotlatchDeltic by 10.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,606,131 shares of the real estate investment trust’s stock valued at $75,520,000 after acquiring an additional 149,920 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in PotlatchDeltic by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,363,897 shares of the real estate investment trust’s stock valued at $66,967,000 after acquiring an additional 53,349 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in PotlatchDeltic by 19.2% during 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 acquiring an additional 212,121 shares during the last quarter. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

PotlatchDeltic Price Performance

Shares of PCH traded down $0.08 during mid-day trading on Friday, hitting $43.10. The company’s stock had a trading volume of 450,197 shares, compared to its average volume of 478,909. The firm has a 50-day moving average price of $40.90 and a 200 day moving average price of $43.22. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 75.62, a PEG ratio of 126.26 and a beta of 1.12. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.12. PotlatchDeltic Co. has a fifty-two week low of $37.06 and a fifty-two week high of $51.71.

PotlatchDeltic (NASDAQ:PCH) last announced its quarterly earnings data 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. The company had revenue of $320.70 million for the quarter, compared to analysts’ expectations of $305.01 million. PotlatchDeltic had a net margin of 3.45% and a return on equity of 1.14%. The business’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. On average, research analysts predict that PotlatchDeltic Co. will post 0.04 EPS for the current fiscal year.

PotlatchDeltic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Friday, June 7th. PotlatchDeltic’s dividend payout ratio (DPR) is currently 315.80%.

Analysts Set New Price Targets

PCH has been the topic of a number of research reports. Truist Financial dropped their target price on shares of PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. StockNews.com cut shares of PotlatchDeltic from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Royal Bank of Canada increased their target price on shares of PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, PotlatchDeltic currently has a consensus rating of “Hold” and a consensus target price of $46.00.

Insider Transactions at PotlatchDeltic

In other news, VP Ashlee Townsend Cribb sold 4,114 shares of PotlatchDeltic stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $43.11, for a total value of $177,354.54. Following the transaction, the vice president now directly owns 29,039 shares of the company’s stock, valued at $1,251,871.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

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.