Quest Partners LLC Acquires Shares of 2,160 PotlatchDeltic Co. (NASDAQ:PCH)

Quest Partners LLC bought a new position in PotlatchDeltic Co. (NASDAQ:PCH) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,160 shares of the real estate investment trust’s stock, valued at approximately $85,000.

Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its position in PotlatchDeltic by 370.7% in the 1st quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 556 shares during the last quarter. Independence Bank of Kentucky bought a new stake in shares of PotlatchDeltic during the second quarter valued at approximately $51,000. Beach Investment Counsel Inc. PA acquired a new position in shares of PotlatchDeltic during the second quarter worth approximately $59,000. Park Place Capital Corp bought a new position in PotlatchDeltic in the 2nd quarter worth approximately $105,000. Finally, Cetera Advisors LLC acquired a new stake in PotlatchDeltic in the 1st quarter valued at approximately $203,000. 86.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Thursday, September 12th. Truist Financial decreased their target price 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. StockNews.com upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada upped their price target 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, PotlatchDeltic presently has a consensus rating of “Hold” and a consensus target price of $47.67.

PotlatchDeltic Trading Up 1.1 %

Shares of PCH stock opened at $45.95 on Wednesday. The stock has a 50-day simple moving average of $42.21 and a 200 day simple moving average of $42.66. The stock has a market capitalization of $3.63 billion, a P/E ratio of 80.62, a P/E/G ratio of 1,042.57 and a beta of 1.13. PotlatchDeltic Co. has a fifty-two week low of $37.06 and a fifty-two week high of $50.04. The company has a quick ratio of 1.00, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

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

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.45 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.80 annualized dividend and a yield of 3.92%. 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 firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $43.11, for a total transaction of $177,354.54. Following the completion of the sale, the vice president now directly owns 29,039 shares of the company’s stock, valued at approximately $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.

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.