MQS Management LLC Purchases New Position in PotlatchDeltic Co. (NASDAQ:PCH)

MQS Management LLC acquired a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,125 shares of the real estate investment trust’s stock, valued at approximately $771,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted 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 valued at $21,394,000 after purchasing an additional 354,616 shares in the last quarter. Sei Investments Co. grew its holdings in PotlatchDeltic by 47.7% during the 1st quarter. Sei Investments Co. now owns 119,049 shares of the real estate investment trust’s stock worth $5,598,000 after acquiring an additional 38,461 shares during the last quarter. Vanguard Group Inc. increased its position in PotlatchDeltic by 0.5% in 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 period. Renaissance Technologies LLC increased its position in PotlatchDeltic by 2,054.5% in the 2nd quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust’s stock valued at $4,053,000 after acquiring an additional 98,123 shares during the period. Finally, Edgestream Partners L.P. raised its stake in shares of PotlatchDeltic by 327.6% during the first quarter. Edgestream Partners L.P. now owns 54,146 shares of the real estate investment trust’s stock valued at $2,546,000 after acquiring an additional 41,483 shares during the last quarter. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Trading Down 2.6 %

NASDAQ PCH opened at $41.31 on Wednesday. The stock has a market capitalization of $3.25 billion, a P/E ratio of 196.71 and a beta of 1.14. The business has a 50 day simple moving average of $43.42 and a 200 day simple moving average of $42.26. 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 one year low of $37.06 and a one year high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last released its quarterly earnings data 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 net margin of 1.56% and a return on equity of 0.78%. The company had revenue of $255.10 million during the quarter, compared to analyst estimates of $241.35 million. During the same quarter in the previous year, the business posted $0.14 EPS. PotlatchDeltic’s revenue for the quarter was down 3.9% compared to the same quarter last year. Research analysts expect that PotlatchDeltic Co. will post 0.15 earnings per share for the current year.

PotlatchDeltic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, September 13th. This represents a $1.80 annualized dividend and a dividend yield of 4.36%. PotlatchDeltic’s dividend payout ratio is currently 857.14%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Tuesday. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Thursday, September 12th. Royal Bank of Canada reissued an “outperform” rating and set a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday, October 30th. Finally, Truist Financial upped their price objective on shares of PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.67.

About PotlatchDeltic

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.