Adelante Capital Management LLC Increases Stock Position in PotlatchDeltic Co. (NASDAQ:PCH)

Adelante Capital Management LLC grew its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 3,486.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,147,262 shares of the real estate investment trust's stock after buying an additional 1,115,272 shares during the period. PotlatchDeltic makes up 2.3% of Adelante Capital Management LLC's portfolio, making the stock its 7th biggest position. Adelante Capital Management LLC owned approximately 1.46% of PotlatchDeltic worth $51,684,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Westwood Holdings Group Inc. raised its stake in PotlatchDeltic by 3.6% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,664,242 shares of the real estate investment trust's stock worth $65,554,000 after buying an additional 58,111 shares during the period. Deprince Race & Zollo Inc. raised its position 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 worth $48,346,000 after purchasing an additional 304,352 shares during the period. Curi RMB Capital LLC lifted its holdings in shares of PotlatchDeltic by 0.5% during the 3rd quarter. Curi RMB Capital LLC now owns 335,671 shares of the real estate investment trust's stock valued at $15,122,000 after purchasing an additional 1,578 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of PotlatchDeltic by 29.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,946 shares of the real estate investment trust's stock valued at $13,918,000 after purchasing an additional 69,887 shares during the period. Finally, Rhumbline Advisers increased its stake in PotlatchDeltic by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 295,936 shares of the real estate investment trust's stock worth $11,657,000 after purchasing an additional 2,135 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.

PotlatchDeltic Stock Down 0.0 %

PCH traded down $0.01 during trading hours on Friday, hitting $44.84. 235,658 shares of the company's stock were exchanged, compared to its average volume of 390,852. 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 Co. has a 1-year low of $37.06 and a 1-year high of $50.04. The stock's 50-day moving average is $43.13 and its two-hundred day moving average is $42.33. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 213.52 and a beta of 1.14.

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 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 business had revenue of $255.10 million for the quarter, compared to analyst estimates of $241.35 million. During the same quarter in the previous year, the business earned $0.14 earnings per share. PotlatchDeltic's revenue for the quarter was down 3.9% on a year-over-year basis. Sell-side analysts predict that PotlatchDeltic Co. will post 0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on PCH shares. StockNews.com raised shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Bank of America raised shares of PotlatchDeltic from a "neutral" rating to a "buy" rating and set a $51.00 target price for the company in a research note on Thursday, September 12th. 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. Finally, Truist Financial upped their price objective on PotlatchDeltic from $42.00 to $45.00 and gave the stock a "hold" rating in a research report on Tuesday, October 15th.

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.