Moors & Cabot Inc. Boosts Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Moors & Cabot Inc. lifted its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 7.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,189 shares of the real estate investment trust’s stock after purchasing an additional 871 shares during the period. Moors & Cabot Inc.’s holdings in PotlatchDeltic were worth $520,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PCH. Bessemer Group Inc. grew its holdings in shares of PotlatchDeltic by 370.7% during the first 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 purchased a new position in PotlatchDeltic in the 2nd quarter worth approximately $51,000. Beach Investment Counsel Inc. PA acquired a new position in shares of PotlatchDeltic during the 2nd quarter worth approximately $59,000. Quest Partners LLC purchased a new stake in shares of PotlatchDeltic in the second quarter valued at approximately $85,000. Finally, Park Place Capital Corp acquired a new stake in shares of PotlatchDeltic in the second quarter valued at approximately $105,000. 86.06% of the stock is owned by hedge funds and other institutional investors.

PotlatchDeltic Price Performance

PotlatchDeltic stock opened at $46.08 on Friday. The company’s 50 day simple moving average is $42.53 and its 200-day simple moving average is $42.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.29. PotlatchDeltic Co. has a 1 year low of $37.06 and a 1 year high of $50.04. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 80.84, a price-to-earnings-growth ratio of 1,042.57 and a beta of 1.13.

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

PotlatchDeltic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Friday, September 13th. PotlatchDeltic’s dividend payout ratio (DPR) is 315.80%.

Insider Buying and Selling at PotlatchDeltic

In other news, VP Ashlee Townsend Cribb sold 4,114 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $43.11, for a total transaction of $177,354.54. Following the sale, the vice president now owns 29,039 shares of the company’s stock, valued at $1,251,871.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCH has been the subject of several analyst reports. Truist Financial dropped their target price on PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Royal Bank of Canada increased their price target on shares of PotlatchDeltic from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Bank of America raised shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Thursday, September 12th. Finally, StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, PotlatchDeltic presently has a consensus rating of “Hold” and an average price target of $47.67.

PotlatchDeltic Company 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.