Algert Global LLC Makes New $315,000 Investment in PotlatchDeltic Co. (NASDAQ:PCH)

Algert Global LLC acquired a new stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,008 shares of the real estate investment trust’s stock, valued at approximately $315,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cibc World Markets Corp bought a new position in PotlatchDeltic during the 4th quarter valued at about $1,292,000. Congress Asset Management Co. MA raised its stake in shares of PotlatchDeltic by 0.3% in the fourth quarter. Congress Asset Management Co. MA now owns 162,366 shares of the real estate investment trust’s stock valued at $7,972,000 after acquiring an additional 502 shares during the last quarter. BTC Capital Management Inc. acquired a new position in shares of PotlatchDeltic in the 1st quarter worth approximately $277,000. Radnor Capital Management LLC bought a new stake in PotlatchDeltic during the 1st quarter worth approximately $404,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in PotlatchDeltic by 0.4% during 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 purchasing an additional 413 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company’s stock.

PotlatchDeltic Price Performance

Shares of PCH stock opened at $43.60 on Wednesday. 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 Co. has a 12 month low of $37.06 and a 12 month high of $50.04. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 76.49 and a beta of 1.13. The stock has a 50-day moving average price of $43.37 and a 200 day moving average price of $42.54.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $305.01 million. During the same period in the previous year, the firm posted $0.06 earnings per share. PotlatchDeltic’s revenue for the quarter was up 30.3% compared to the same quarter last year. Research analysts expect that PotlatchDeltic Co. will post 0.02 EPS for the current year.

PotlatchDeltic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.45 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.80 annualized dividend and a dividend yield of 4.13%. PotlatchDeltic’s dividend payout ratio is currently 315.79%.

Analysts Set New Price Targets

A number of research firms have commented on PCH. Royal Bank of Canada boosted their price objective on PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Truist Financial dropped their target price on shares of PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. Finally, 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 note on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $47.67.

Insider Buying and Selling

In other PotlatchDeltic news, VP Ashlee Townsend Cribb sold 4,114 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $43.11, for a total value of $177,354.54. Following the transaction, the vice president now owns 29,039 shares of the company’s stock, valued at approximately $1,251,871.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by 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.