Bernzott Capital Advisors Grows Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Bernzott Capital Advisors increased its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 7.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,506 shares of the real estate investment trust’s stock after acquiring an additional 13,390 shares during the period. PotlatchDeltic makes up about 3.6% of Bernzott Capital Advisors’ investment portfolio, making the stock its 6th largest position. Bernzott Capital Advisors owned approximately 0.24% of PotlatchDeltic worth $8,447,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. increased its holdings in shares of PotlatchDeltic by 370.7% during the 1st quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 556 shares during the last quarter. Independence Bank of Kentucky bought a new position in shares of PotlatchDeltic during the second quarter valued at $51,000. Beach Investment Counsel Inc. PA acquired a new position in PotlatchDeltic in the second quarter valued at about $59,000. Quarry LP bought a new stake in PotlatchDeltic during the 2nd quarter worth approximately $82,000. Finally, Quest Partners LLC bought a new stake in PotlatchDeltic during the 2nd quarter worth approximately $85,000. Institutional investors own 86.06% of the company’s stock.

Analysts Set New Price Targets

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

PotlatchDeltic Trading Down 5.3 %

NASDAQ PCH traded down $2.26 during trading on Tuesday, reaching $40.04. 357,086 shares of the stock traded hands, compared to its average volume of 432,083. PotlatchDeltic Co. has a fifty-two week low of $37.06 and a fifty-two week high of $50.04. The company has a quick ratio of 1.00, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 87.31 and a beta of 1.13. The stock’s 50-day moving average price is $43.60 and its 200 day moving average price is $42.24.

PotlatchDeltic (NASDAQ:PCH) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. The company had revenue of $255.10 million during the quarter, compared to analyst estimates of $241.35 million. PotlatchDeltic had a net margin of 3.45% and a return on equity of 1.14%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. Analysts predict that PotlatchDeltic Co. will post 0.01 EPS for the current year.

PotlatchDeltic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 presently 391.31%.

About PotlatchDeltic

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.