Cibc World Markets Corp Acquires 9,322 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Cibc World Markets Corp increased its position in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 49.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,300 shares of the real estate investment trust's stock after purchasing an additional 9,322 shares during the quarter. Cibc World Markets Corp's holdings in PotlatchDeltic were worth $1,111,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Adelante Capital Management LLC raised its holdings in shares of PotlatchDeltic by 3,486.3% in the 3rd quarter. Adelante Capital Management LLC now owns 1,147,262 shares of the real estate investment trust's stock worth $51,684,000 after buying an additional 1,115,272 shares in the last quarter. Heitman Real Estate Securities LLC acquired a new position in PotlatchDeltic during the third quarter worth $8,153,000. JPMorgan Chase & Co. lifted its holdings in shares of PotlatchDeltic by 22.2% during the third 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 during the period. NFJ Investment Group LLC acquired a new stake in shares of PotlatchDeltic in the 3rd quarter valued at $5,878,000. Finally, Barclays PLC grew its holdings in shares of PotlatchDeltic by 147.7% in the 3rd 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 during the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

Insider Activity

In other news, VP Michele Tyler sold 3,170 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $44.72, for a total value of $141,762.40. Following the completion of the sale, the vice president now directly owns 39,446 shares of the company's stock, valued at $1,764,025.12. This represents a 7.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Eric J. Cremers sold 14,188 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $44.76, for a total transaction of $635,054.88. Following the completion of the sale, the chief executive officer now owns 281,133 shares in the company, valued at $12,583,513.08. This represents a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,651 shares of company stock valued at $834,770 in the last 90 days. 2.00% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PCH shares. Raymond James raised shares of PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $45.00 price target for the company in a report on Monday, December 23rd. Citigroup reduced their target price on PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. StockNews.com raised PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Friday, January 31st. DA Davidson set a $54.00 price objective on PotlatchDeltic in a research note on Wednesday, January 29th. Finally, Truist Financial lowered their target price on PotlatchDeltic from $45.00 to $44.00 and set a "hold" rating for the company in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $48.71.

PotlatchDeltic Trading Up 0.5 %

Shares of PCH traded up $0.21 during trading hours on Wednesday, hitting $44.48. 303,369 shares of the stock traded hands, compared to its average volume of 411,328. The business has a fifty day moving average of $44.54 and a 200-day moving average of $43.20. 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 firm has a market capitalization of $3.50 billion, a PE ratio of 158.86 and a beta of 1.14. PotlatchDeltic Co. has a 1-year low of $37.06 and a 1-year high of $48.12.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last issued its earnings results on Monday, January 27th. The real estate investment trust reported $0.07 earnings per share (EPS) 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%. Analysts expect that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Friday, March 7th. PotlatchDeltic's payout ratio is 642.86%.

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.