Y Intercept Hong Kong Ltd Acquires Shares of 12,382 PotlatchDeltic Co. (NASDAQ:PCH)

Y Intercept Hong Kong Ltd acquired a new stake in PotlatchDeltic Co. (NASDAQ:PCH) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,382 shares of the real estate investment trust’s stock, valued at approximately $558,000.

A number of other hedge funds have also modified their holdings of PCH. Independence Bank of Kentucky purchased a new stake in PotlatchDeltic during the 2nd quarter valued at approximately $51,000. Quarry LP purchased a new stake in shares of PotlatchDeltic during the second quarter worth approximately $82,000. Quest Partners LLC purchased a new stake in shares of PotlatchDeltic during the second quarter worth approximately $85,000. Systematic Financial Management LP purchased a new position in PotlatchDeltic in the 3rd quarter valued at $166,000. Finally, FMR LLC grew its position in PotlatchDeltic by 20.4% in the 3rd quarter. FMR LLC now owns 4,329 shares of the real estate investment trust’s stock valued at $195,000 after buying an additional 733 shares during the last quarter. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

PotlatchDeltic Price Performance

PCH stock opened at $42.71 on Monday. The firm has a 50 day moving average of $42.90 and a 200-day moving average of $42.35. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 203.38 and a beta of 1.14. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. PotlatchDeltic Co. has a 12-month low of $37.06 and a 12-month high of $50.04.

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

PotlatchDeltic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.45 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 4.21%. PotlatchDeltic’s dividend payout ratio is presently 857.14%.

Analyst Ratings Changes

Several analysts have recently commented 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 research note on Tuesday, October 15th. 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. BMO Capital Markets upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 target price on the stock in a research report on Friday, December 6th. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 price objective on shares of PotlatchDeltic in a report on Wednesday, October 30th. Two equities 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 presently has an average rating of “Moderate Buy” and an average target price of $49.25.

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.