Weiss Asset Management LP Purchases New Shares in PotlatchDeltic Co. (NASDAQ:PCH)

Weiss Asset Management LP bought a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 45,965 shares of the real estate investment trust's stock, valued at approximately $2,071,000. Weiss Asset Management LP owned 0.06% of PotlatchDeltic as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of PCH. Independence Bank of Kentucky bought a new position in PotlatchDeltic in the second quarter worth about $51,000. Quarry LP acquired a new stake in shares of PotlatchDeltic during the 2nd quarter worth approximately $82,000. Quest Partners LLC bought a new stake in shares of PotlatchDeltic in the 2nd quarter worth approximately $85,000. Systematic Financial Management LP acquired a new position in PotlatchDeltic during the 3rd quarter valued at approximately $166,000. Finally, Cetera Advisors LLC bought a new position in PotlatchDeltic during the 1st quarter worth $203,000. 86.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PCH shares. StockNews.com upgraded PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. 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 research report on Thursday, September 12th. Royal Bank of Canada restated an "outperform" rating and issued a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday, October 30th. BMO Capital Markets raised PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 price target on the stock in a report on Friday. Finally, Truist Financial boosted 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, PotlatchDeltic presently has an average rating of "Moderate Buy" and a consensus target price of $49.25.

PotlatchDeltic Price Performance

Shares of NASDAQ PCH traded up $0.52 during mid-day trading on Friday, reaching $44.27. 462,385 shares of the company traded hands, compared to its average volume of 352,826. PotlatchDeltic Co. has a fifty-two week low of $37.06 and a fifty-two week high of $50.04. The firm has a market cap of $3.49 billion, a PE ratio of 210.81 and a beta of 1.14. The stock has a fifty day simple moving average of $43.01 and a 200-day simple moving average of $42.33. 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 (NASDAQ:PCH - Get Free Report) last issued 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 return on equity of 0.78% and a net margin of 1.56%. The company had revenue of $255.10 million for the quarter, compared to analysts' expectations of $241.35 million. During the same period last year, the firm earned $0.14 EPS. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts anticipate that PotlatchDeltic Co. will post 0.15 EPS for the current fiscal year.

PotlatchDeltic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.07%. PotlatchDeltic's payout ratio is 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.