Empirical Asset Management LLC Purchases New Position in PotlatchDeltic Co. (NASDAQ:PCH)

Empirical Asset Management LLC bought a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 45,170 shares of the real estate investment trust's stock, valued at approximately $1,773,000. Empirical Asset Management LLC owned approximately 0.06% of PotlatchDeltic as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. raised its position in PotlatchDeltic by 60.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,414 shares of the real estate investment trust's stock valued at $292,000 after buying an additional 2,799 shares during the period. Dimensional Fund Advisors LP acquired a new position in PotlatchDeltic in the 2nd quarter valued at approximately $1,479,000. Renaissance Technologies LLC lifted its position in PotlatchDeltic by 2,054.5% in the 2nd quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust's stock worth $4,053,000 after buying an additional 98,123 shares in the last quarter. Moors & Cabot Inc. boosted its stake in shares of PotlatchDeltic by 7.1% during the 2nd quarter. Moors & Cabot Inc. now owns 13,189 shares of the real estate investment trust's stock valued at $520,000 after buying an additional 871 shares during the period. Finally, AE Wealth Management LLC purchased a new position in shares of PotlatchDeltic during the 2nd quarter valued at $454,000. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PCH shares. Royal Bank of Canada restated an "outperform" rating and issued a $50.00 price objective on shares of PotlatchDeltic in a report on Wednesday, October 30th. Citigroup dropped their price target on shares of PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating on the stock in a research report on Wednesday. Truist Financial decreased their price objective on shares of PotlatchDeltic from $45.00 to $44.00 and set a "hold" rating for the company in a report on Monday, January 6th. BMO Capital Markets raised PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 price target on the stock in a research report on Friday, December 6th. Finally, StockNews.com upgraded PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $47.83.

PotlatchDeltic Stock Performance

PCH traded up $0.49 during trading hours on Friday, reaching $42.32. The company's stock had a trading volume of 354,506 shares, compared to its average volume of 423,610. The company's 50-day moving average is $41.45 and its 200-day moving average is $42.14. 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 firm has a market cap of $3.33 billion, a PE ratio of 201.52 and a beta of 1.16. PotlatchDeltic Co. has a 52 week low of $37.06 and a 52 week high of $48.08.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) 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 the consensus estimate of ($0.04) by $0.08. The company had revenue of $255.10 million for the quarter, compared to analyst estimates of $241.35 million. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. PotlatchDeltic's quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 EPS. On average, equities analysts forecast that PotlatchDeltic Co. will post 0.21 EPS for the current year.

PotlatchDeltic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.45 per share. The ex-dividend date was Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.25%. PotlatchDeltic's payout ratio is presently 857.14%.

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.