PotlatchDeltic Co. (NASDAQ:PCH) Shares Bought by Bernzott Capital Advisors

Bernzott Capital Advisors increased its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 7.7% during the third quarter, Holdings Channel reports. The fund owned 187,506 shares of the real estate investment trust’s stock after acquiring an additional 13,390 shares during the quarter. PotlatchDeltic comprises about 3.6% of Bernzott Capital Advisors’ holdings, making the stock its 6th biggest holding. Bernzott Capital Advisors’ holdings in PotlatchDeltic were worth $8,447,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Bessemer Group Inc. increased its holdings in shares of 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 purchasing an additional 556 shares during the last quarter. Independence Bank of Kentucky acquired a new stake in shares of PotlatchDeltic during the 2nd quarter worth about $51,000. Beach Investment Counsel Inc. PA bought a new stake in shares of PotlatchDeltic during the 2nd quarter worth about $59,000. Quarry LP acquired a new position in PotlatchDeltic in the 2nd quarter valued at about $82,000. Finally, Quest Partners LLC acquired a new position in PotlatchDeltic in the 2nd quarter valued at about $85,000. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Price Performance

PCH stock traded down $2.26 during mid-day trading on Tuesday, hitting $40.04. The stock had a trading volume of 357,086 shares, compared to its average volume of 432,083. The firm has a fifty day simple moving average of $43.60 and a 200 day simple moving average of $42.24. The company has a current ratio of 1.29, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. 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 $3.16 billion, a P/E ratio of 87.31 and a beta of 1.13.

PotlatchDeltic (NASDAQ:PCH) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. PotlatchDeltic had a net margin of 3.45% and a return on equity of 1.14%. The firm had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $241.35 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, research analysts forecast that PotlatchDeltic Co. will post 0.01 EPS for the current year.

PotlatchDeltic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend was Friday, September 13th. PotlatchDeltic’s dividend payout ratio (DPR) is 391.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PCH shares. Truist Financial boosted their price objective on PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Thursday, September 12th. Royal Bank of Canada increased their price objective on PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $48.67.

PotlatchDeltic Company 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.