Point72 Asia Singapore Pte. Ltd. Acquires New Stake in PotlatchDeltic Co. (NASDAQ:PCH)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 19,757 shares of the real estate investment trust’s stock, valued at approximately $890,000.

A number of other large investors have also made changes to their positions in the stock. Adelante Capital Management LLC boosted its stake in shares of 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 valued at $51,684,000 after acquiring an additional 1,115,272 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of PotlatchDeltic during the third quarter valued at $366,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of PotlatchDeltic by 29.2% during 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 acquiring an additional 69,887 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of PotlatchDeltic by 76.2% during the third quarter. BNP Paribas Financial Markets now owns 70,998 shares of the real estate investment trust’s stock valued at $3,198,000 after acquiring an additional 30,706 shares during the last quarter. Finally, Rock Point Advisors LLC boosted its stake in shares of PotlatchDeltic by 0.8% during the third quarter. Rock Point Advisors LLC now owns 108,071 shares of the real estate investment trust’s stock valued at $4,869,000 after acquiring an additional 805 shares during the last quarter. Institutional investors and hedge funds own 86.06% of the company’s stock.

PotlatchDeltic Stock Performance

Shares of NASDAQ:PCH opened at $44.84 on Monday. The company has a market cap of $3.53 billion, a P/E ratio of 213.52 and a beta of 1.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.24. PotlatchDeltic Co. has a one year low of $37.06 and a one year high of $50.04. The business’s 50-day simple moving average is $43.13 and its 200 day simple moving average is $42.33.

PotlatchDeltic (NASDAQ:PCH) last announced its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.08. The business had revenue of $255.10 million for the quarter, compared to the consensus estimate of $241.35 million. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The company’s revenue was down 3.9% on a year-over-year basis. During the same period last year, the business posted $0.14 EPS. On average, sell-side analysts forecast that PotlatchDeltic Co. will post 0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PCH shares. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday, October 30th. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Thursday, September 12th. Finally, Truist Financial raised 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.

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.