Moors & Cabot Inc. Sells 410 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Moors & Cabot Inc. cut its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,779 shares of the real estate investment trust’s stock after selling 410 shares during the quarter. Moors & Cabot Inc.’s holdings in PotlatchDeltic were worth $576,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Bessemer Group Inc. raised its holdings in PotlatchDeltic by 370.7% in the first quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 556 shares during the last quarter. Independence Bank of Kentucky purchased a new position in PotlatchDeltic in the 2nd quarter worth approximately $51,000. Beach Investment Counsel Inc. PA purchased a new position in PotlatchDeltic in the 2nd quarter worth approximately $59,000. Quarry LP purchased a new stake in PotlatchDeltic during the 2nd quarter valued at $82,000. Finally, Quest Partners LLC bought a new stake in shares of PotlatchDeltic in the 2nd quarter worth $85,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Price Performance

Shares of NASDAQ:PCH opened at $43.09 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $3.39 billion, a PE ratio of 205.19 and a beta of 1.14. The firm’s 50 day moving average price is $43.23 and its 200-day moving average price is $42.28. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings results 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. The business had revenue of $255.10 million for the quarter, compared to analysts’ expectations of $241.35 million. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 EPS. Equities research analysts expect that PotlatchDeltic Co. will post 0.15 EPS for the current year.

PotlatchDeltic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.18%. The ex-dividend date was Friday, September 13th. PotlatchDeltic’s dividend payout ratio is presently 857.14%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PCH shares. Truist Financial upped their price target on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Royal Bank of Canada reissued an “outperform” rating and set a $50.00 price objective on shares of PotlatchDeltic in a report on Wednesday, October 30th. Finally, Bank of America upgraded shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Thursday, September 12th. Three investment 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, PotlatchDeltic currently has an average rating of “Hold” and an average price target of $48.67.

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.