Rock Point Advisors LLC Has $4.23 Million Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Rock Point Advisors LLC increased its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 15.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 107,266 shares of the real estate investment trust’s stock after acquiring an additional 14,373 shares during the period. Rock Point Advisors LLC owned about 0.13% of PotlatchDeltic worth $4,225,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its stake in shares of PotlatchDeltic by 353.2% in the 1st 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 during the period. Sei Investments Co. raised its stake in PotlatchDeltic by 47.7% during the first 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 in the last quarter. Vanguard Group Inc. lifted its holdings in shares of PotlatchDeltic by 0.5% during the first 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. Cibc World Markets Corp bought a new stake in shares of PotlatchDeltic in the 4th quarter worth about $1,292,000. Finally, Edgestream Partners L.P. increased its position in shares of PotlatchDeltic by 327.6% during the 1st quarter. Edgestream Partners L.P. now owns 54,146 shares of the real estate investment trust’s stock worth $2,546,000 after purchasing an additional 41,483 shares in the last quarter. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Trading Up 2.7 %

NASDAQ:PCH opened at $45.32 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. PotlatchDeltic Co. has a 1-year low of $37.06 and a 1-year high of $50.04. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 79.51, a PEG ratio of 995.32 and a beta of 1.13. The business’s 50-day moving average price is $42.06 and its two-hundred day moving average price is $42.67.

PotlatchDeltic (NASDAQ:PCH) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $320.70 million for the quarter, compared to the consensus estimate of $305.01 million. PotlatchDeltic had a net margin of 3.45% and a return on equity of 1.14%. PotlatchDeltic’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period last year, the company posted $0.06 EPS.

PotlatchDeltic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Friday, September 13th. PotlatchDeltic’s dividend payout ratio (DPR) is 315.80%.

Insider Activity at PotlatchDeltic

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

Analysts Set New Price Targets

PCH has been the topic of several research analyst reports. Royal Bank of Canada upped their price objective on shares of PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Truist Financial dropped their price objective on shares of PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. Finally, Bank of America upgraded shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Thursday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $47.67.

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.