HighTower Advisors LLC Sells 794 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

HighTower Advisors LLC reduced its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 10.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,016 shares of the real estate investment trust’s stock after selling 794 shares during the quarter. HighTower Advisors LLC’s holdings in PotlatchDeltic were worth $315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mackenzie Financial Corp grew its holdings in PotlatchDeltic by 3.3% during the 2nd quarter. Mackenzie Financial Corp now owns 9,050 shares of the real estate investment trust’s stock valued at $356,000 after purchasing an additional 286 shares during the last quarter. Saturna Capital Corp boosted its position in PotlatchDeltic by 3.7% during the 3rd quarter. Saturna Capital Corp now owns 10,031 shares of the real estate investment trust’s stock valued at $452,000 after acquiring an additional 356 shares in the last quarter. Arizona State Retirement System lifted its position in shares of PotlatchDeltic by 2.0% during the second quarter. Arizona State Retirement System now owns 22,256 shares of the real estate investment trust’s stock valued at $877,000 after buying an additional 445 shares during the last quarter. Azzad Asset Management Inc. ADV grew its holdings in PotlatchDeltic by 3.6% in the third quarter. Azzad Asset Management Inc. ADV now owns 16,456 shares of the real estate investment trust’s stock worth $741,000 after purchasing an additional 570 shares during the last quarter. Finally, Creative Planning boosted its holdings in PotlatchDeltic by 13.6% in the third quarter. Creative Planning now owns 5,835 shares of the real estate investment trust’s stock worth $263,000 after acquiring an additional 699 shares in the last quarter. 86.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PCH has been the subject of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 price target on shares of PotlatchDeltic in a research report on Wednesday, October 30th. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Truist Financial raised their target price on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Raymond James upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Monday. Finally, BMO Capital Markets upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a research report on Friday, December 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.40.

PotlatchDeltic Stock Up 2.1 %

PotlatchDeltic stock opened at $39.58 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.24. The firm has a 50 day moving average price of $42.59 and a 200 day moving average price of $42.25. PotlatchDeltic Co. has a fifty-two week low of $37.06 and a fifty-two week high of $50.04. The company has a market capitalization of $3.12 billion, a PE ratio of 188.48 and a beta of 1.14.

PotlatchDeltic (NASDAQ:PCH) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The company had revenue of $255.10 million for the quarter, compared to analyst estimates of $241.35 million. During the same period in the prior year, the business earned $0.14 EPS. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. Research analysts expect that PotlatchDeltic Co. will post 0.15 earnings per share for the current year.

PotlatchDeltic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.55%. The ex-dividend date is Monday, December 16th. PotlatchDeltic’s dividend payout ratio (DPR) is presently 857.14%.

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.