Mackenzie Financial Corp Buys 8,689 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Mackenzie Financial Corp raised its holdings in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 88.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,461 shares of the real estate investment trust's stock after acquiring an additional 8,689 shares during the period. Mackenzie Financial Corp's holdings in PotlatchDeltic were worth $725,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP boosted its holdings in PotlatchDeltic by 224.2% in the fourth quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 482 shares during the last quarter. Fifth Third Bancorp boosted its holdings in PotlatchDeltic by 259.7% in the fourth quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 818 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in PotlatchDeltic by 806.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,503 shares of the real estate investment trust's stock valued at $98,000 after acquiring an additional 2,227 shares during the last quarter. GeoWealth Management LLC bought a new stake in PotlatchDeltic in the fourth quarter valued at approximately $131,000. Finally, KBC Group NV lifted its stake in PotlatchDeltic by 67.3% in the fourth quarter. KBC Group NV now owns 3,685 shares of the real estate investment trust's stock valued at $145,000 after buying an additional 1,483 shares during the period. Institutional investors own 86.06% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Truist Financial dropped their price target on PotlatchDeltic from $44.00 to $42.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Citigroup dropped their price target on PotlatchDeltic from $49.00 to $47.00 and set a "buy" rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, PotlatchDeltic has a consensus rating of "Moderate Buy" and a consensus target price of $48.57.

PotlatchDeltic Stock Up 0.1%

Shares of NASDAQ:PCH traded up $0.05 during trading on Thursday, reaching $38.71. 104,061 shares of the stock were exchanged, compared to its average volume of 471,575. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.08. PotlatchDeltic Co. has a 1-year low of $36.82 and a 1-year high of $48.12. The stock has a fifty day moving average of $39.46 and a two-hundred day moving average of $41.88. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 138.29 and a beta of 1.16.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.13. PotlatchDeltic had a return on equity of 1.05% and a net margin of 2.06%. The business had revenue of $268.26 million during the quarter, compared to the consensus estimate of $243.68 million. The business's revenue for the quarter was up 17.6% compared to the same quarter last year. Research analysts anticipate that PotlatchDeltic Co. will post 0.8 earnings per share for the current fiscal year.

PotlatchDeltic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.65%. The ex-dividend date is Friday, June 6th. PotlatchDeltic's dividend payout ratio is presently 295.08%.

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.