Paloma Partners Management Co Purchases Shares of 6,300 PotlatchDeltic Co. (NASDAQ:PCH)

Paloma Partners Management Co acquired a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH) during the 3rd quarter, Holdings Channel reports. The firm acquired 6,300 shares of the real estate investment trust’s stock, valued at approximately $284,000.

Several other hedge funds have also bought and sold shares of PCH. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PotlatchDeltic in the third quarter valued at approximately $890,000. Adelante Capital Management LLC boosted its position in PotlatchDeltic by 3,486.3% during the third quarter. Adelante Capital Management LLC now owns 1,147,262 shares of the real estate investment trust’s stock worth $51,684,000 after purchasing an additional 1,115,272 shares during the period. Captrust Financial Advisors acquired a new position in shares of PotlatchDeltic in the third quarter valued at $366,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of PotlatchDeltic by 29.2% in the third 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, BNP Paribas Financial Markets boosted its holdings in shares of PotlatchDeltic by 76.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 70,998 shares of the real estate investment trust’s stock worth $3,198,000 after buying an additional 30,706 shares during the period. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PCH shares. Bank of America upgraded shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Thursday, September 12th. Truist Financial upped their price objective on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th.

PotlatchDeltic Stock Performance

NASDAQ:PCH opened at $43.75 on Friday. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 208.33 and a beta of 1.14. PotlatchDeltic Co. has a fifty-two week low of $37.06 and a fifty-two week high of $50.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.24. The stock has a fifty day moving average price of $43.06 and a 200-day moving average price of $42.33.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $241.35 million. During the same quarter in the prior year, the business posted $0.14 earnings per share. PotlatchDeltic’s revenue was down 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that PotlatchDeltic Co. will post 0.15 EPS for the current fiscal year.

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.