Bernzott Capital Advisors Acquires 13,390 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Bernzott Capital Advisors raised its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 7.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,506 shares of the real estate investment trust's stock after buying an additional 13,390 shares during the quarter. PotlatchDeltic comprises about 3.6% of Bernzott Capital Advisors' portfolio, making the stock its 6th biggest holding. Bernzott Capital Advisors owned approximately 0.24% of PotlatchDeltic worth $8,447,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Bessemer Group Inc. lifted its holdings in PotlatchDeltic by 370.7% in the first quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 556 shares during the last quarter. Independence Bank of Kentucky acquired a new position in shares of PotlatchDeltic in the 2nd quarter valued at $51,000. Beach Investment Counsel Inc. PA purchased a new position in shares of PotlatchDeltic during the 2nd quarter worth $59,000. Quarry LP purchased a new position in shares of PotlatchDeltic during the 2nd quarter worth $82,000. Finally, Quest Partners LLC acquired a new stake in shares of PotlatchDeltic during the 2nd quarter worth about $85,000. Hedge funds and other institutional investors own 86.06% of the company's stock.

PotlatchDeltic Stock Down 4.2 %

PotlatchDeltic stock traded down $1.78 during mid-day trading on Tuesday, reaching $40.52. 807,648 shares of the company's stock were exchanged, compared to its average volume of 434,239. The company has a fifty day moving average of $43.60 and a 200-day moving average of $42.24. The company has a market cap of $3.20 billion, a P/E ratio of 87.31 and a beta of 1.13. The company has a quick ratio of 1.00, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. 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 released its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.08. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The firm had revenue of $255.10 million during the quarter, compared to analyst estimates of $241.35 million. During the same period last year, the business posted $0.14 earnings per share. PotlatchDeltic's revenue was down 3.9% compared to the same quarter last year. Sell-side analysts expect that PotlatchDeltic Co. will post 0.01 EPS for the current year.

PotlatchDeltic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors 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 dividend on an annualized basis and a dividend yield of 4.44%. PotlatchDeltic's payout ratio is 391.31%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Truist Financial boosted their price objective on shares of PotlatchDeltic from $42.00 to $45.00 and gave the company a "hold" rating in a report on Tuesday, October 15th. StockNews.com upgraded shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Friday, August 9th. Royal Bank of Canada boosted their price objective on shares of PotlatchDeltic from $46.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Finally, Bank of America upgraded shares of PotlatchDeltic from a "neutral" rating to a "buy" rating and set a $51.00 price objective on the stock in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, PotlatchDeltic currently has an average rating of "Hold" and a consensus price target 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.