MQS Management LLC Takes $771,000 Position in PotlatchDeltic Co. (NASDAQ:PCH)

MQS Management LLC bought a new stake in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 17,125 shares of the real estate investment trust's stock, valued at approximately $771,000.

Other large investors also recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in PotlatchDeltic by 370.7% during the 1st quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 556 shares during the last quarter. Independence Bank of Kentucky bought a new position in shares of PotlatchDeltic during the 2nd quarter worth approximately $51,000. Beach Investment Counsel Inc. PA bought a new position in shares of PotlatchDeltic during the 2nd quarter worth approximately $59,000. Quarry LP bought a new position in shares of PotlatchDeltic during the 2nd quarter worth approximately $82,000. Finally, Quest Partners LLC bought a new position in shares of PotlatchDeltic during the 2nd quarter worth approximately $85,000. 86.06% of the stock is currently owned by institutional investors and hedge funds.

PotlatchDeltic Price Performance

NASDAQ:PCH traded up $0.19 during midday trading on Wednesday, hitting $41.50. The company had a trading volume of 321,313 shares, compared to its average volume of 434,181. PotlatchDeltic Co. has a 52-week low of $37.06 and a 52-week high of $50.04. The stock's fifty day moving average price is $43.42 and its 200-day moving average price is $42.26. The company has a market capitalization of $3.27 billion, a PE ratio of 199.10 and a beta of 1.14. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.42.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last announced 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. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. 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 previous year, the business earned $0.14 earnings per share. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. As a group, research analysts expect that PotlatchDeltic Co. will post 0.15 earnings per share for the current year.

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Friday, September 13th. PotlatchDeltic's dividend payout ratio is presently 857.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PCH shares. Truist Financial lifted their target price on shares of PotlatchDeltic from $42.00 to $45.00 and gave the stock a "hold" rating in a research report on Tuesday, October 15th. Bank of America raised shares of PotlatchDeltic from a "neutral" rating to a "buy" rating and set a $51.00 price target on the stock in a report on Thursday, September 12th. 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. Finally, StockNews.com raised shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $48.67.

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.