Fisher Asset Management LLC Buys 13,006 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Fisher Asset Management LLC increased its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 226,035 shares of the real estate investment trust’s stock after purchasing an additional 13,006 shares during the quarter. Fisher Asset Management LLC’s holdings in PotlatchDeltic were worth $10,183,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. raised its holdings in shares of PotlatchDeltic by 370.7% during the 1st quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 556 shares in the last quarter. Independence Bank of Kentucky bought a new position in shares of PotlatchDeltic in the second quarter worth about $51,000. Beach Investment Counsel Inc. PA acquired a new stake in shares of PotlatchDeltic in the 2nd quarter valued at approximately $59,000. Quarry LP acquired a new stake in shares of PotlatchDeltic in the 2nd quarter valued at approximately $82,000. Finally, Quest Partners LLC bought a new stake in shares of PotlatchDeltic during the 2nd quarter valued at approximately $85,000. 86.06% of the stock is currently owned by institutional investors and hedge funds.

PotlatchDeltic Stock Performance

NASDAQ PCH opened at $44.85 on Thursday. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 213.57 and a beta of 1.14. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $50.04. The stock has a fifty day simple moving average of $43.19 and a 200 day simple moving average of $42.30.

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, beating analysts’ consensus estimates of ($0.04) by $0.08. The firm had revenue of $255.10 million for the quarter, compared to analyst estimates of $241.35 million. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The business’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 EPS. Sell-side analysts expect that PotlatchDeltic Co. will post 0.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PCH. Royal Bank of Canada restated an “outperform” rating and issued a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday, October 30th. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Truist Financial increased their target price on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Finally, Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Thursday, September 12th.

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.