Weiss Asset Management LP Makes New $2.07 Million Investment in PotlatchDeltic Co. (NASDAQ:PCH)

Weiss Asset Management LP acquired a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 45,965 shares of the real estate investment trust’s stock, valued at approximately $2,071,000. Weiss Asset Management LP owned approximately 0.06% of PotlatchDeltic as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. MQS Management LLC bought a new position in shares of PotlatchDeltic in the third quarter valued at approximately $771,000. Renaissance Technologies LLC grew its holdings in shares of PotlatchDeltic by 2,054.5% in 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 acquiring an additional 98,123 shares in the last quarter. Quest Partners LLC grew its holdings in shares of PotlatchDeltic by 872.1% in the third quarter. Quest Partners LLC now owns 20,997 shares of the real estate investment trust’s stock valued at $946,000 after acquiring an additional 18,837 shares in the last quarter. Foresight Group Ltd Liability Partnership grew its holdings in shares of PotlatchDeltic by 72.7% in the second quarter. Foresight Group Ltd Liability Partnership now owns 84,314 shares of the real estate investment trust’s stock valued at $3,321,000 after acquiring an additional 35,494 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of PotlatchDeltic by 4,404.9% in the third quarter. International Assets Investment Management LLC now owns 20,092 shares of the real estate investment trust’s stock valued at $905,000 after acquiring an additional 19,646 shares in the last quarter. 86.06% of the stock is owned by institutional investors.

PotlatchDeltic Trading Up 1.2 %

NASDAQ:PCH opened at $44.27 on Friday. PotlatchDeltic Co. has a 1 year low of $37.06 and a 1 year high of $50.04. The stock’s fifty day moving average price is $43.01 and its two-hundred day moving average price is $42.33. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.93. The company has a market cap of $3.49 billion, a P/E ratio of 210.81 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. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The business had revenue of $255.10 million during the quarter, compared to the consensus estimate of $241.35 million. During the same quarter last year, the company earned $0.14 EPS. The firm’s revenue was down 3.9% compared to the same quarter last year. As a group, analysts expect that PotlatchDeltic Co. will post 0.15 EPS for the current year.

PotlatchDeltic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.07%. PotlatchDeltic’s dividend payout ratio is currently 857.14%.

Analyst Ratings Changes

PCH has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 target price on shares of PotlatchDeltic in a report on Wednesday, October 30th. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. BMO Capital Markets raised PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a report on Friday. Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Thursday, September 12th. Finally, Truist Financial increased their price objective on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, PotlatchDeltic has a consensus rating of “Moderate Buy” and a consensus price target of $49.25.

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.