Oppenheimer Asset Management Inc. Purchases 2,799 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Oppenheimer Asset Management Inc. boosted its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 60.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,414 shares of the real estate investment trust’s stock after acquiring an additional 2,799 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in PotlatchDeltic were worth $292,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of PotlatchDeltic in the 4th quarter valued at $280,000. Clearbridge Investments LLC lifted its position in shares of PotlatchDeltic by 0.7% in the fourth quarter. Clearbridge Investments LLC now owns 347,592 shares of the real estate investment trust’s stock worth $17,067,000 after buying an additional 2,465 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of PotlatchDeltic by 224.2% during the 4th quarter. Corient Private Wealth LLC now owns 159,175 shares of the real estate investment trust’s stock worth $7,815,000 after acquiring an additional 110,078 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of 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 acquiring an additional 395 shares during the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of PotlatchDeltic in the 4th quarter valued at approximately $1,292,000. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PotlatchDeltic news, VP Ashlee Townsend Cribb sold 4,114 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $43.11, for a total value of $177,354.54. Following the sale, the vice president now owns 29,039 shares of the company’s stock, valued at approximately $1,251,871.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

PotlatchDeltic Stock Performance

NASDAQ PCH opened at $45.61 on Friday. The company’s fifty day moving average is $42.78 and its two-hundred day moving average is $42.66. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 80.02 and a beta of 1.13. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.00. PotlatchDeltic Co. has a 52-week low of $37.06 and a 52-week high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $320.70 million for the quarter, compared to analyst estimates of $305.01 million. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 earnings per share. Equities research analysts forecast that PotlatchDeltic Co. will post 0.02 EPS for the current 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 paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.95%. PotlatchDeltic’s payout ratio is 315.79%.

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.