AMG National Trust Bank Purchases 9,061 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

AMG National Trust Bank raised its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 34.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,200 shares of the real estate investment trust’s stock after purchasing an additional 9,061 shares during the quarter. AMG National Trust Bank’s holdings in PotlatchDeltic were worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCH. Franklin Resources Inc. lifted its stake in shares of PotlatchDeltic by 1.5% during the fourth quarter. Franklin Resources Inc. now owns 27,287 shares of the real estate investment trust’s stock valued at $1,340,000 after acquiring an additional 395 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of PotlatchDeltic by 0.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 106,448 shares of the real estate investment trust’s stock valued at $5,005,000 after purchasing an additional 413 shares during the period. M&T Bank Corp increased its holdings in PotlatchDeltic by 0.7% in the fourth quarter. M&T Bank Corp now owns 57,776 shares of the real estate investment trust’s stock valued at $2,836,000 after purchasing an additional 423 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in PotlatchDeltic by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the real estate investment trust’s stock valued at $1,072,000 after buying an additional 500 shares during the period. Finally, State of Michigan Retirement System raised its holdings in PotlatchDeltic by 2.6% in the first quarter. State of Michigan Retirement System now owns 19,531 shares of the real estate investment trust’s stock worth $918,000 after purchasing an additional 500 shares during the period. 86.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Truist Financial cut their target price on PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. Finally, Royal Bank of Canada lifted their price objective on shares of PotlatchDeltic from $46.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.00.

Insider Activity at PotlatchDeltic

In other PotlatchDeltic news, VP Ashlee Townsend Cribb sold 4,114 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $43.11, for a total transaction of $177,354.54. Following the completion of the transaction, the vice president now owns 29,039 shares of the company’s stock, valued at $1,251,871.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.

PotlatchDeltic Stock Up 7.3 %

NASDAQ PCH traded up $3.02 during trading hours on Friday, hitting $44.16. 793,675 shares of the company traded hands, compared to its average volume of 431,831. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.29. The business’s 50-day moving average is $40.85 and its 200-day moving average is $42.80. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 77.47, a P/E/G ratio of 121.70 and a beta of 1.12. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last released its earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $320.70 million during the quarter, compared to analysts’ expectations of $305.01 million. PotlatchDeltic had a net margin of 3.45% and a return on equity of 1.14%. The firm’s revenue was up 30.3% on a year-over-year basis. During the same period last year, the business earned $0.06 earnings per share. Sell-side analysts anticipate that PotlatchDeltic Co. will post 0.04 earnings per share for the current 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.