Quarry LP Invests $82,000 in PotlatchDeltic Co. (NASDAQ:PCH)

Quarry LP acquired a new stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) in the second quarter, HoldingsChannel reports. The firm acquired 2,094 shares of the real estate investment trust’s stock, valued at approximately $82,000.

A number of other large investors also recently bought and sold shares of PCH. Mackenzie Financial Corp lifted its position in shares of PotlatchDeltic by 3.3% during the second quarter. Mackenzie Financial Corp now owns 9,050 shares of the real estate investment trust’s stock worth $356,000 after purchasing an additional 286 shares during the last quarter. Franklin Resources Inc. lifted its holdings in PotlatchDeltic by 1.5% during the 4th quarter. Franklin Resources Inc. now owns 27,287 shares of the real estate investment trust’s stock valued at $1,340,000 after buying an additional 395 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in PotlatchDeltic by 0.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 106,448 shares of the real estate investment trust’s stock valued at $5,005,000 after buying an additional 413 shares during the period. Arizona State Retirement System grew its stake in PotlatchDeltic by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 22,256 shares of the real estate investment trust’s stock worth $877,000 after acquiring an additional 445 shares in the last quarter. Finally, State of Michigan Retirement System increased its position in shares of PotlatchDeltic by 2.6% during the first quarter. State of Michigan Retirement System now owns 19,531 shares of the real estate investment trust’s stock worth $918,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Trading Down 0.3 %

PCH opened at $44.77 on Thursday. PotlatchDeltic Co. has a 12 month low of $37.06 and a 12 month high of $50.04. The stock has a fifty day moving average price of $43.34 and a 200-day moving average price of $42.61. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 78.55 and a beta of 1.13. 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 (NASDAQ:PCH) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.17 EPS 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 business had revenue of $320.70 million during the quarter, compared to analyst estimates of $305.01 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The company’s quarterly revenue was up 30.3% on a year-over-year basis. As a group, equities research analysts anticipate that PotlatchDeltic Co. will post 0.02 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend was Friday, September 13th. PotlatchDeltic’s dividend payout ratio is currently 315.80%.

Insider Transactions at PotlatchDeltic

In related news, VP Ashlee Townsend Cribb sold 4,114 shares of the company’s 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 of the company’s stock, valued at approximately $1,251,871.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently 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 report on Thursday, September 12th. Truist Financial dropped their price target on PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. 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. Finally, StockNews.com raised shares of 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.