Cibc World Markets Corp Raises Stock Position in PotlatchDeltic Co. (NASDAQ:PCH)

Cibc World Markets Corp raised its holdings in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 49.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,300 shares of the real estate investment trust's stock after buying an additional 9,322 shares during the period. Cibc World Markets Corp's holdings in PotlatchDeltic were worth $1,111,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Natixis Advisors LLC lifted its position in PotlatchDeltic by 28.6% in the 3rd quarter. Natixis Advisors LLC now owns 20,854 shares of the real estate investment trust's stock valued at $939,000 after acquiring an additional 4,633 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of PotlatchDeltic in the third quarter worth approximately $2,162,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of PotlatchDeltic in the third quarter valued at approximately $372,000. Intech Investment Management LLC purchased a new position in shares of PotlatchDeltic during the third quarter valued at approximately $781,000. Finally, Cerity Partners LLC grew its holdings in PotlatchDeltic by 28.4% during the third quarter. Cerity Partners LLC now owns 22,812 shares of the real estate investment trust's stock worth $1,028,000 after buying an additional 5,049 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Wayne Wasechek sold 1,293 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $44.82, for a total value of $57,952.26. Following the completion of the transaction, the chief financial officer now directly owns 27,701 shares of the company's stock, valued at approximately $1,241,558.82. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric J. Cremers sold 14,188 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 281,133 shares in the company, valued at $12,583,513.08. The trade was a 4.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,651 shares of company stock valued at $834,770. 2.00% of the stock is owned by insiders.

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PotlatchDeltic Stock Performance

PCH stock traded down $0.95 during mid-day trading on Tuesday, hitting $44.27. The company had a trading volume of 563,714 shares, compared to its average volume of 411,200. PotlatchDeltic Co. has a 12 month low of $37.06 and a 12 month high of $48.12. The stock's fifty day moving average price is $44.54 and its two-hundred day moving average price is $43.20. The firm has a market cap of $3.49 billion, a PE ratio of 158.11 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.08 and a current ratio of 1.49.

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

PotlatchDeltic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.80 annualized dividend and a dividend yield of 4.07%. PotlatchDeltic's payout ratio is 642.86%.

Wall Street Analysts Forecast Growth

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

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.