MQS Management LLC Buys Shares of 17,125 PotlatchDeltic Co. (NASDAQ:PCH)

MQS Management LLC purchased a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 17,125 shares of the real estate investment trust’s stock, valued at approximately $771,000.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in PotlatchDeltic by 79.5% in the 1st quarter. SG Americas Securities LLC now owns 22,148 shares of the real estate investment trust’s stock worth $1,041,000 after buying an additional 9,811 shares during the period. Sei Investments Co. lifted its position in shares of 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. Russell Investments Group Ltd. boosted its holdings in shares of PotlatchDeltic by 353.2% in the first quarter. Russell Investments Group Ltd. now owns 455,008 shares of the real estate investment trust’s stock worth $21,394,000 after acquiring an additional 354,616 shares during the period. ProShare Advisors LLC grew its position in shares of PotlatchDeltic by 4.7% in the first quarter. ProShare Advisors LLC now owns 18,099 shares of the real estate investment trust’s stock valued at $851,000 after purchasing an additional 818 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of PotlatchDeltic by 17.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 26,478 shares of the real estate investment trust’s stock valued at $1,311,000 after purchasing an additional 3,880 shares during the period. Hedge funds and other institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Stock Down 2.6 %

Shares of NASDAQ PCH opened at $41.31 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average of $43.42 and a 200-day moving average of $42.26. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 196.71 and a beta of 1.14. PotlatchDeltic Co. has a 12 month low of $37.06 and a 12 month high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The business had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $241.35 million. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. Sell-side analysts expect that PotlatchDeltic Co. will post 0.15 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.80 dividend on an annualized basis and a yield of 4.36%. PotlatchDeltic’s dividend payout ratio is presently 857.14%.

Wall Street Analyst Weigh In

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

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.