Edgestream Partners L.P. Has $4.55 Million Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Edgestream Partners L.P. boosted its holdings in PotlatchDeltic Co. (NASDAQ:PCH) by 113.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,473 shares of the real estate investment trust’s stock after buying an additional 61,327 shares during the quarter. Edgestream Partners L.P. owned approximately 0.15% of PotlatchDeltic worth $4,548,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Bessemer Group Inc. boosted its stake in shares of PotlatchDeltic by 370.7% during 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 in the last quarter. Independence Bank of Kentucky bought a new position in shares of PotlatchDeltic during the second quarter worth about $51,000. Beach Investment Counsel Inc. PA bought a new position in shares of PotlatchDeltic during the second quarter worth about $59,000. Quest Partners LLC bought a new position in shares of PotlatchDeltic during the second quarter worth about $85,000. Finally, Park Place Capital Corp bought a new position in shares of PotlatchDeltic during the second quarter worth about $105,000. 86.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PCH. Royal Bank of Canada raised 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. Bank of America upgraded 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 lowered their price objective on PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. Finally, StockNews.com upgraded 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 issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $47.67.

PotlatchDeltic Trading Up 1.1 %

Shares of PCH stock opened at $45.95 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.29. PotlatchDeltic Co. has a fifty-two week low of $37.06 and a fifty-two week high of $50.04. The stock has a 50 day simple moving average of $42.21 and a two-hundred day simple moving average of $42.66. The company has a market cap of $3.63 billion, a P/E ratio of 80.62, a PEG ratio of 1,042.57 and a beta of 1.13.

PotlatchDeltic (NASDAQ:PCH) last announced its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The firm had revenue of $320.70 million during the quarter, compared to analysts’ expectations of $305.01 million. During the same quarter last year, the firm posted $0.06 earnings per share. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year.

PotlatchDeltic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.80 dividend on an annualized basis and a yield of 3.92%. PotlatchDeltic’s dividend payout ratio (DPR) is presently 315.80%.

Insider Buying and Selling at PotlatchDeltic

In other PotlatchDeltic news, VP Ashlee Townsend Cribb sold 4,114 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $43.11, for a total value of $177,354.54. Following the completion of the sale, the vice president now owns 29,039 shares of the company’s stock, valued at $1,251,871.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

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.