Barings LLC Acquires Shares of 23,555 PotlatchDeltic Co. (NASDAQ:PCH)

Barings LLC acquired a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 23,555 shares of the real estate investment trust's stock, valued at approximately $925,000.

A number of other hedge funds have also modified their holdings of PCH. Adelante Capital Management LLC grew its holdings in shares of PotlatchDeltic by 3,486.3% during the third quarter. Adelante Capital Management LLC now owns 1,147,262 shares of the real estate investment trust's stock valued at $51,684,000 after buying an additional 1,115,272 shares in the last quarter. Heitman Real Estate Securities LLC purchased a new position in PotlatchDeltic during the 3rd quarter valued at about $8,153,000. JPMorgan Chase & Co. grew its stake in PotlatchDeltic by 22.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 900,447 shares of the real estate investment trust's stock valued at $40,565,000 after acquiring an additional 163,774 shares in the last quarter. NFJ Investment Group LLC acquired a new position in shares of PotlatchDeltic in the 3rd quarter valued at about $5,878,000. Finally, Barclays PLC lifted its position in shares of PotlatchDeltic by 147.7% in the third quarter. Barclays PLC now owns 163,784 shares of the real estate investment trust's stock worth $7,378,000 after purchasing an additional 97,655 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.

PotlatchDeltic Stock Performance

NASDAQ:PCH traded down $0.78 during trading hours on Wednesday, hitting $44.12. 523,781 shares of the company traded hands, compared to its average volume of 411,696. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 157.57 and a beta of 1.14. The firm has a 50-day moving average of $43.41 and a 200 day moving average of $43.06. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $48.12.

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PotlatchDeltic (NASDAQ:PCH - Get Free Report) last released its earnings results on Monday, January 27th. The real estate investment trust reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.10. PotlatchDeltic had a net margin of 2.06% and a return on equity of 1.05%. On average, analysts forecast that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Friday, March 7th. PotlatchDeltic's dividend payout ratio is presently 642.86%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Truist Financial dropped their price objective on shares of PotlatchDeltic from $45.00 to $44.00 and set a "hold" rating on the stock in a research note on Monday, January 6th. BMO Capital Markets upgraded shares of PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 price target on the stock in a report on Friday, December 6th. StockNews.com upgraded PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Friday, January 31st. DA Davidson set a $54.00 target price on shares of PotlatchDeltic in a research note on Wednesday, January 29th. Finally, Citigroup decreased their price target on PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $48.71.

Insider Activity at PotlatchDeltic

In other PotlatchDeltic news, VP Michele Tyler sold 3,170 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $44.72, for a total transaction of $141,762.40. Following the sale, the vice president now directly owns 39,446 shares of the company's stock, valued at approximately $1,764,025.12. This represents a 7.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric J. Cremers sold 14,188 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $44.76, for a total transaction of $635,054.88. Following the sale, the chief executive officer now directly owns 281,133 shares in the company, valued at approximately $12,583,513.08. This represents a 4.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,651 shares of company stock worth $834,770. 1.00% of the stock is owned by corporate insiders.

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.