Heartland Advisors Inc. Sells 47,287 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Heartland Advisors Inc. decreased its position in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 9.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 470,531 shares of the real estate investment trust's stock after selling 47,287 shares during the period. PotlatchDeltic comprises about 1.0% of Heartland Advisors Inc.'s investment portfolio, making the stock its 23rd biggest holding. Heartland Advisors Inc. owned 0.60% of PotlatchDeltic worth $18,468,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. TCW Group Inc. purchased a new stake in shares of PotlatchDeltic during the 3rd quarter worth about $1,923,000. Intech Investment Management LLC bought a new stake in PotlatchDeltic in the third quarter worth $781,000. Allspring Global Investments Holdings LLC increased its holdings in shares of PotlatchDeltic by 4.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 162,135 shares of the real estate investment trust's stock valued at $6,364,000 after acquiring an additional 7,567 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in PotlatchDeltic by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,542,771 shares of the real estate investment trust's stock valued at $60,554,000 after purchasing an additional 70,745 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of PotlatchDeltic in the third quarter valued at approximately $2,071,000. Hedge funds and other institutional investors own 86.06% of the company's stock.

Remove Ads

PotlatchDeltic Price Performance

PCH stock traded down $0.30 during midday trading on Tuesday, reaching $44.82. 121,874 shares of the company's stock traded hands, compared to its average volume of 433,064. PotlatchDeltic Co. has a 1-year low of $37.06 and a 1-year high of $48.12. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 160.23 and a beta of 1.14. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. The company has a 50-day simple moving average of $44.78 and a two-hundred day simple moving average of $43.25.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.07 EPS for the quarter, topping analysts' consensus estimates 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 anticipate that PotlatchDeltic Co. will post 0.8 earnings per share for the current year.

PotlatchDeltic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.02%. The ex-dividend date was Friday, March 7th. PotlatchDeltic's dividend payout ratio (DPR) is presently 642.86%.

Insiders Place Their Bets

In other news, CEO Eric J. Cremers sold 14,188 shares of PotlatchDeltic 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. The trade was a 4.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michele Tyler sold 3,170 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $44.72, for a total transaction of $141,762.40. Following the transaction, the vice president now owns 39,446 shares of the company's stock, valued at approximately $1,764,025.12. This represents a 7.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,651 shares of company stock valued at $834,770. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on PCH. Truist Financial lowered their target price 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. DA Davidson set a $54.00 price target on shares of PotlatchDeltic in a research report on Wednesday, January 29th. Raymond James raised 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. StockNews.com raised PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Finally, Citigroup reduced their target price on PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $48.71.

About PotlatchDeltic

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.