TCW Group Inc. Acquires New Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

TCW Group Inc. bought a new position in PotlatchDeltic Co. (NASDAQ:PCH) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 42,692 shares of the real estate investment trust’s stock, valued at approximately $1,923,000. TCW Group Inc. owned about 0.05% of PotlatchDeltic at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PCH. MQS Management LLC purchased a new position in shares of PotlatchDeltic in the 3rd quarter worth $771,000. Renaissance Technologies LLC lifted its holdings in PotlatchDeltic by 2,054.5% in the second 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. Quest Partners LLC boosted its position in PotlatchDeltic by 872.1% in the third quarter. Quest Partners LLC now owns 20,997 shares of the real estate investment trust’s stock worth $946,000 after purchasing an additional 18,837 shares during the last quarter. Foresight Group Ltd Liability Partnership grew its stake in shares of PotlatchDeltic by 72.7% during the 2nd quarter. Foresight Group Ltd Liability Partnership now owns 84,314 shares of the real estate investment trust’s stock valued at $3,321,000 after purchasing an additional 35,494 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of PotlatchDeltic by 4,404.9% during the 3rd quarter. International Assets Investment Management LLC now owns 20,092 shares of the real estate investment trust’s stock valued at $905,000 after purchasing an additional 19,646 shares during the last quarter. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Stock Down 1.7 %

PCH opened at $43.06 on Friday. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 205.05 and a beta of 1.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.24. The firm’s fifty day moving average is $42.93 and its 200 day moving average is $42.35. PotlatchDeltic Co. has a fifty-two week low of $37.06 and a fifty-two week high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 EPS 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 period in the previous year, the business earned $0.14 earnings per share. The business’s revenue was down 3.9% on a year-over-year basis. On average, sell-side analysts forecast that PotlatchDeltic Co. will post 0.15 earnings per share for the current fiscal year.

PotlatchDeltic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Monday, December 16th. PotlatchDeltic’s dividend payout ratio (DPR) is currently 857.14%.

Analysts Set New Price Targets

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

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.