Adelante Capital Management LLC Increases Position in PotlatchDeltic Co. (NASDAQ:PCH)

Adelante Capital Management LLC increased its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 3,486.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,147,262 shares of the real estate investment trust’s stock after acquiring an additional 1,115,272 shares during the period. PotlatchDeltic makes up about 2.3% of Adelante Capital Management LLC’s holdings, making the stock its 7th largest holding. Adelante Capital Management LLC’s holdings in PotlatchDeltic were worth $51,684,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Independence Bank of Kentucky acquired a new position in shares of PotlatchDeltic during the second quarter worth approximately $51,000. Beach Investment Counsel Inc. PA acquired a new position in PotlatchDeltic during the 2nd quarter worth $59,000. Quarry LP bought a new position in shares of PotlatchDeltic in the second quarter worth $82,000. Quest Partners LLC bought a new position in shares of PotlatchDeltic in the second quarter worth $85,000. Finally, Park Place Capital Corp acquired a new position in shares of PotlatchDeltic during the second quarter valued at $105,000. 86.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PCH shares. Bank of America upgraded shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Thursday, September 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 price objective on shares of PotlatchDeltic in a research note on Wednesday, October 30th. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Truist Financial increased their price target on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th.

PotlatchDeltic Stock Performance

NASDAQ:PCH opened at $44.84 on Friday. The company has a 50-day moving average of $43.13 and a 200-day moving average of $42.34. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 213.52 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 twelve month low of $37.06 and a twelve month high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 1.56% and a return on equity of 0.78%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. Analysts forecast that PotlatchDeltic Co. will post 0.15 earnings per share for the current fiscal year.

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.