PotlatchDeltic Co. (NASDAQ:PCH) Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC lowered its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 20.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 51,616 shares of the real estate investment trust’s stock after selling 13,198 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in PotlatchDeltic were worth $2,325,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PCH. Deprince Race & Zollo Inc. lifted its holdings in PotlatchDeltic by 33.0% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,227,361 shares of the real estate investment trust’s stock valued at $48,346,000 after acquiring an additional 304,352 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of PotlatchDeltic by 19.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,316,743 shares of the real estate investment trust’s stock worth $61,913,000 after purchasing an additional 212,121 shares in the last quarter. Ceredex Value Advisors LLC bought a new stake in shares of PotlatchDeltic in the 3rd quarter worth approximately $7,884,000. Renaissance Technologies LLC lifted its stake in PotlatchDeltic by 2,054.5% during the second quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust’s stock valued at $4,053,000 after purchasing an additional 98,123 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in PotlatchDeltic by 73.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 154,568 shares of the real estate investment trust’s stock worth $6,963,000 after buying an additional 65,682 shares in the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.

PotlatchDeltic Trading Up 3.3 %

PotlatchDeltic stock opened at $43.09 on Monday. The company has a 50 day moving average price of $43.23 and a 200 day moving average price of $42.28. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.24. PotlatchDeltic Co. has a 52 week low of $37.06 and a 52 week high of $50.04. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 205.19 and a beta of 1.14.

PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. The business had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $241.35 million. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. PotlatchDeltic’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. Research analysts forecast that PotlatchDeltic Co. will post 0.15 EPS for the current year.

PotlatchDeltic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.80 annualized dividend and a yield of 4.18%. PotlatchDeltic’s dividend payout ratio (DPR) is presently 857.14%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PCH. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 price target on shares of PotlatchDeltic in a report on Wednesday, October 30th. Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Thursday, September 12th. Truist Financial increased their price target on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Finally, StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, PotlatchDeltic currently has a consensus rating of “Hold” and an average target price of $48.67.

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.