Adelante Capital Management LLC increased its position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 3,486.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,147,262 shares of the real estate investment trust's stock after acquiring an additional 1,115,272 shares during the quarter. PotlatchDeltic makes up about 2.3% of Adelante Capital Management LLC's portfolio, making the stock its 7th biggest holding. Adelante Capital Management LLC owned approximately 1.46% of PotlatchDeltic worth $51,684,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. Mackenzie Financial Corp increased its stake in PotlatchDeltic by 3.3% during the second quarter. Mackenzie Financial Corp now owns 9,050 shares of the real estate investment trust's stock worth $356,000 after acquiring an additional 286 shares during the last quarter. Saturna Capital Corp increased its position in shares of PotlatchDeltic by 3.7% during the 3rd quarter. Saturna Capital Corp now owns 10,031 shares of the real estate investment trust's stock worth $452,000 after purchasing an additional 356 shares during the last quarter. Arizona State Retirement System raised its holdings in PotlatchDeltic by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 22,256 shares of the real estate investment trust's stock valued at $877,000 after buying an additional 445 shares during the period. Azzad Asset Management Inc. ADV lifted its position in PotlatchDeltic by 3.6% in the third quarter. Azzad Asset Management Inc. ADV now owns 16,456 shares of the real estate investment trust's stock valued at $741,000 after buying an additional 570 shares during the last quarter. Finally, Accordant Advisory Group Inc boosted its stake in PotlatchDeltic by 1.2% during the second quarter. Accordant Advisory Group Inc now owns 54,852 shares of the real estate investment trust's stock worth $2,161,000 after buying an additional 627 shares during the period. Hedge funds and other institutional investors own 86.06% of the company's stock.
PotlatchDeltic stock opened at $44.84 on Friday. The firm has a market capitalization of $3.53 billion, a P/E ratio of 213.52 and a beta of 1.14. The stock's fifty day simple moving average is $43.13 and its 200-day simple moving average is $42.34. 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 - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.08. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The firm had revenue of $255.10 million for the quarter, compared to analysts' expectations of $241.35 million. During the same period last year, the business posted $0.14 earnings per share. The firm's revenue for the quarter was down 3.9% on a year-over-year basis. As a group, equities analysts expect that PotlatchDeltic Co. will post 0.15 earnings per share for the current fiscal year.
A number of research firms recently weighed in on PCH. Truist Financial increased their price objective on shares of PotlatchDeltic from $42.00 to $45.00 and gave the stock a "hold" rating in a research report on Tuesday, October 15th. StockNews.com raised PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Royal Bank of Canada reiterated an "outperform" rating and issued a $50.00 price objective on shares of PotlatchDeltic in a report on Wednesday, October 30th. Finally, Bank of America upgraded PotlatchDeltic from a "neutral" rating to a "buy" rating and set a $51.00 target price for the company in a report on Thursday, September 12th.
Check Out Our Latest Stock Report on PCH
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.
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