Holocene Advisors LP Has $2.77 Million Position in PotlatchDeltic Co. (NASDAQ:PCH)

Holocene Advisors LP boosted its position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 29.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,387 shares of the real estate investment trust's stock after acquiring an additional 13,806 shares during the quarter. Holocene Advisors LP owned 0.08% of PotlatchDeltic worth $2,765,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MQS Management LLC bought a new position in shares of PotlatchDeltic during the 3rd quarter worth approximately $771,000. Renaissance Technologies LLC boosted its position in PotlatchDeltic by 2,054.5% during the second 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 period. Foresight Group Ltd Liability Partnership increased its holdings in shares of PotlatchDeltic by 72.7% in the second quarter. Foresight Group Ltd Liability Partnership now owns 84,314 shares of the real estate investment trust's stock valued at $3,321,000 after purchasing an additional 35,494 shares during the last quarter. Quest Partners LLC raised its position in shares of PotlatchDeltic by 872.1% in the third quarter. Quest Partners LLC now owns 20,997 shares of the real estate investment trust's stock valued at $946,000 after purchasing an additional 18,837 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of PotlatchDeltic by 4,404.9% in the third quarter. International Assets Investment Management LLC now owns 20,092 shares of the real estate investment trust's stock valued at $905,000 after purchasing an additional 19,646 shares during the period. 86.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PCH. StockNews.com upgraded shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday, October 30th. Truist Financial boosted their price target on PotlatchDeltic from $42.00 to $45.00 and gave the company a "hold" rating in a research note 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, BMO Capital Markets raised shares of PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 target price for the company in a research report on Friday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $49.25.

PotlatchDeltic Price Performance

PotlatchDeltic stock traded up $0.52 during mid-day trading on Friday, reaching $44.27. 462,385 shares of the company were exchanged, compared to its average volume of 429,702. The company has a fifty day simple moving average of $43.03 and a 200-day simple moving average of $42.34. The firm has a market cap of $3.49 billion, a PE ratio of 211.48 and a beta of 1.14. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.93. PotlatchDeltic Co. has a 12 month low of $37.06 and a 12 month high of $50.04.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.08. The business had revenue of $255.10 million during the quarter, compared to the consensus estimate of $241.35 million. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. PotlatchDeltic's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 earnings per share. As a group, equities research analysts expect that PotlatchDeltic Co. will post 0.15 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.07%. PotlatchDeltic's dividend payout ratio is currently 857.14%.

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.