BNP Paribas Financial Markets Boosts Stock Position in PotlatchDeltic Co. (NASDAQ:PCH)

BNP Paribas Financial Markets boosted its stake in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 76.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 70,998 shares of the real estate investment trust's stock after acquiring an additional 30,706 shares during the quarter. BNP Paribas Financial Markets owned 0.09% of PotlatchDeltic worth $3,198,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Deprince Race & Zollo Inc. raised its holdings in shares of PotlatchDeltic by 33.0% during the second 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. Ceredex Value Advisors LLC purchased a new position in PotlatchDeltic in the 3rd quarter valued at $7,884,000. Renaissance Technologies LLC boosted its stake in PotlatchDeltic by 2,054.5% during the 2nd quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust's stock worth $4,053,000 after purchasing an additional 98,123 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in PotlatchDeltic by 73.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 154,568 shares of the real estate investment trust's stock worth $6,963,000 after purchasing an additional 65,682 shares during the last quarter. Finally, Edgestream Partners L.P. grew its holdings in shares of PotlatchDeltic by 113.3% during the second quarter. Edgestream Partners L.P. now owns 115,473 shares of the real estate investment trust's stock worth $4,548,000 after buying an additional 61,327 shares in the last quarter. Hedge funds and other institutional investors own 86.06% of the company's stock.

PotlatchDeltic Trading Up 1.2 %

Shares of NASDAQ PCH traded up $0.52 during midday trading on Friday, reaching $44.27. 462,385 shares of the stock were exchanged, compared to its average volume of 429,702. The stock has a market capitalization of $3.49 billion, a P/E ratio of 211.48 and a beta of 1.14. 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 company has a 50 day simple moving average of $43.03 and a 200 day simple moving average of $42.34. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $50.04.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share 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 company had revenue of $255.10 million during the quarter, compared to analyst estimates of $241.35 million. During the same period in the prior year, the business posted $0.14 earnings per share. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities analysts expect that PotlatchDeltic Co. will post 0.15 earnings per share for the current year.

PotlatchDeltic Dividend Announcement

The business also recently disclosed 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 4.07%. PotlatchDeltic's dividend payout ratio (DPR) is currently 857.14%.

Analyst Ratings Changes

Several research firms have recently weighed in on PCH. Royal Bank of Canada reissued an "outperform" rating and issued a $50.00 price target on shares of PotlatchDeltic in a research note on Wednesday, October 30th. BMO Capital Markets raised shares of PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 target price on the stock in a research note on Friday. Truist Financial upped 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. 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 report on Thursday, September 12th. Finally, StockNews.com upgraded PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, PotlatchDeltic currently has an average rating of "Moderate Buy" and a consensus price target of $49.25.

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.