Horizon Kinetics Asset Management LLC Sells 13,198 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Horizon Kinetics Asset Management LLC lowered its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 20.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 51,616 shares of the real estate investment trust's stock after selling 13,198 shares during the period. Horizon Kinetics Asset Management LLC owned about 0.07% of PotlatchDeltic worth $2,325,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC grew its stake in shares of PotlatchDeltic by 6.1% during the third quarter. Fisher Asset Management LLC now owns 226,035 shares of the real estate investment trust's stock valued at $10,183,000 after buying an additional 13,006 shares during the last quarter. Cerity Partners LLC boosted its holdings in PotlatchDeltic by 28.4% during the 3rd quarter. Cerity Partners LLC now owns 22,812 shares of the real estate investment trust's stock valued at $1,028,000 after acquiring an additional 5,049 shares during the period. Intech Investment Management LLC bought a new position in PotlatchDeltic during the 3rd quarter worth approximately $781,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in PotlatchDeltic during the 3rd quarter worth approximately $372,000. Finally, Segall Bryant & Hamill LLC purchased a new position in PotlatchDeltic in the 3rd quarter worth approximately $2,162,000. Hedge funds and other institutional investors own 86.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of PotlatchDeltic from $42.00 to $45.00 and gave the stock a "hold" rating in a report on Tuesday, October 15th. StockNews.com raised shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Royal Bank of Canada restated an "outperform" rating and issued a $50.00 price objective on shares of PotlatchDeltic in a research report on Wednesday, October 30th. Finally, Bank of America upgraded shares of PotlatchDeltic from a "neutral" rating to a "buy" rating and set a $51.00 target price for the company in a report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, PotlatchDeltic presently has an average rating of "Hold" and a consensus target price of $48.67.

PotlatchDeltic Trading Up 3.8 %

PotlatchDeltic stock traded up $1.63 during mid-day trading on Monday, reaching $44.72. 867,344 shares of the company traded hands, compared to its average volume of 433,099. 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 52-week low of $37.06 and a 52-week high of $50.04. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 212.95 and a beta of 1.14. The firm's 50 day moving average price is $43.22 and its 200 day moving average price is $42.29.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last announced its quarterly 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 company had revenue of $255.10 million for the quarter, compared to analysts' expectations of $241.35 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. PotlatchDeltic's quarterly revenue was down 3.9% on a year-over-year basis. On average, analysts anticipate that PotlatchDeltic Co. will post 0.15 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Friday, September 13th. PotlatchDeltic's payout ratio is presently 857.14%.

PotlatchDeltic 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.