Oppenheimer Asset Management Inc. boosted its holdings in shares of Potlatchdeltic Corp (NASDAQ:PCH) by 10.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,672 shares of the real estate investment trust’s stock after purchasing an additional 523 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Potlatchdeltic were worth $221,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PCH. Russell Investments Group Ltd. increased its holdings in shares of Potlatchdeltic by 46.3% in the second quarter. Russell Investments Group Ltd. now owns 431,705 shares of the real estate investment trust’s stock valued at $16,820,000 after purchasing an additional 136,578 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in Potlatchdeltic in the 2nd quarter valued at $152,000. Prudential Financial Inc. lifted its position in Potlatchdeltic by 6.2% during the 2nd quarter. Prudential Financial Inc. now owns 45,381 shares of the real estate investment trust’s stock worth $1,769,000 after buying an additional 2,630 shares in the last quarter. Heartland Advisors Inc. lifted its position in Potlatchdeltic by 14.7% during the 2nd quarter. Heartland Advisors Inc. now owns 321,407 shares of the real estate investment trust’s stock worth $12,528,000 after buying an additional 41,145 shares in the last quarter. Finally, BB&T Securities LLC bought a new stake in Potlatchdeltic during the 2nd quarter worth about $226,000. Hedge funds and other institutional investors own 89.21% of the company’s stock.

Shares of NASDAQ:PCH traded up $0.20 on Friday, reaching $42.31. 6,718 shares of the company’s stock were exchanged, compared to its average volume of 229,159. The company has a fifty day moving average of $37.75 and a 200-day moving average of $37.59. Potlatchdeltic Corp has a twelve month low of $28.07 and a twelve month high of $48.70. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 9.42 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.14 and a debt-to-equity ratio of 0.57.

Potlatchdeltic (NASDAQ:PCH) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.06. Potlatchdeltic had a net margin of 9.50% and a return on equity of 6.46%. The firm had revenue of $215.60 million for the quarter, compared to analyst estimates of $210.17 million. During the same quarter in the prior year, the business posted $0.75 EPS. The business’s revenue was down 19.6% compared to the same quarter last year. As a group, equities research analysts forecast that Potlatchdeltic Corp will post 0.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.78%. The ex-dividend date is Thursday, September 12th. Potlatchdeltic’s payout ratio is 70.18%.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Potlatchdeltic from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. ValuEngine upgraded shares of Potlatchdeltic from a “buy” rating to a “strong-buy” rating in a research note on Thursday. BidaskClub upgraded shares of Potlatchdeltic from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada lowered shares of Potlatchdeltic from an “outperform” rating to a “sector perform” rating and set a $42.00 price target on the stock. in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Potlatchdeltic currently has a consensus rating of “Buy” and a consensus target price of $43.27.

Potlatchdeltic Profile

PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland sales program.

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Institutional Ownership by Quarter for Potlatchdeltic (NASDAQ:PCH)

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