Edgestream Partners L.P. Boosts Stock Position in PotlatchDeltic Co. (NASDAQ:PCH)

Edgestream Partners L.P. boosted its holdings in PotlatchDeltic Co. (NASDAQ:PCH) by 113.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,473 shares of the real estate investment trust’s stock after purchasing an additional 61,327 shares during the period. Edgestream Partners L.P.’s holdings in PotlatchDeltic were worth $4,548,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Franklin Resources Inc. boosted its position in PotlatchDeltic by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 27,287 shares of the real estate investment trust’s stock worth $1,340,000 after purchasing an additional 395 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in PotlatchDeltic by 0.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 106,448 shares of the real estate investment trust’s stock worth $5,005,000 after purchasing an additional 413 shares during the last quarter. Arizona State Retirement System boosted its position in PotlatchDeltic by 2.0% in the second quarter. Arizona State Retirement System now owns 22,256 shares of the real estate investment trust’s stock worth $877,000 after purchasing an additional 445 shares during the last quarter. State of Michigan Retirement System boosted its position in PotlatchDeltic by 2.6% in 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 purchasing an additional 500 shares during the last quarter. Finally, Congress Asset Management Co. MA boosted its position in 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 worth $7,972,000 after purchasing an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Insiders Place Their Bets

In other PotlatchDeltic 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 value of $177,354.54. Following the transaction, the vice president now directly owns 29,039 shares in the company, valued at approximately $1,251,871.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

PotlatchDeltic Stock Performance

NASDAQ:PCH opened at $45.95 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.29. PotlatchDeltic Co. has a 52-week low of $37.06 and a 52-week high of $50.04. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 80.62, a PEG ratio of 1,042.57 and a beta of 1.13. The business’s fifty day moving average is $42.21 and its 200 day moving average is $42.66.

PotlatchDeltic (NASDAQ:PCH) last announced its 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. The business 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 prior year, the company earned $0.06 EPS.

PotlatchDeltic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.45 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.80 dividend on an annualized basis and a yield of 3.92%. PotlatchDeltic’s dividend payout ratio is currently 315.80%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank of Canada boosted their target price on PotlatchDeltic from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Truist Financial lowered their target price on PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. 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. Finally, StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research note 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $47.67.

About PotlatchDeltic

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.