Invesco Ltd. Lowers Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Invesco Ltd. trimmed its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 79.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,587 shares of the real estate investment trust's stock after selling 887,432 shares during the quarter. Invesco Ltd. owned approximately 0.29% of PotlatchDeltic worth $8,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of PCH. Envestnet Asset Management Inc. grew its position in shares of PotlatchDeltic by 41.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 33,548 shares of the real estate investment trust's stock worth $1,317,000 after buying an additional 9,759 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in PotlatchDeltic by 29.6% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 348,323 shares of the real estate investment trust's stock worth $13,672,000 after purchasing an additional 79,500 shares during the period. Wells Fargo & Company MN increased its stake in PotlatchDeltic by 5.2% in the fourth quarter. Wells Fargo & Company MN now owns 267,277 shares of the real estate investment trust's stock valued at $10,491,000 after purchasing an additional 13,142 shares in the last quarter. ExodusPoint Capital Management LP raised its holdings in shares of PotlatchDeltic by 219.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 48,568 shares of the real estate investment trust's stock valued at $1,906,000 after purchasing an additional 33,379 shares during the period. Finally, Headlands Technologies LLC boosted its position in shares of PotlatchDeltic by 239.5% during the 4th quarter. Headlands Technologies LLC now owns 11,542 shares of the real estate investment trust's stock worth $453,000 after purchasing an additional 8,142 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

PotlatchDeltic Price Performance

NASDAQ:PCH traded up $0.03 during trading hours on Friday, hitting $39.08. 504,131 shares of the company's stock traded hands, compared to its average volume of 449,795. PotlatchDeltic Co. has a 52 week low of $36.82 and a 52 week high of $48.12. The business's fifty day simple moving average is $43.14 and its two-hundred day simple moving average is $42.55. 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 firm has a market cap of $3.08 billion, a P/E ratio of 139.57 and a beta of 1.12.

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

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend was Friday, March 7th. PotlatchDeltic's payout ratio is 642.86%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PCH shares. Truist Financial decreased their target price on PotlatchDeltic from $44.00 to $42.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Citigroup cut their price objective on PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th. StockNews.com upgraded PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Finally, DA Davidson set a $54.00 price target on shares of PotlatchDeltic in a research note 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $48.43.

Insiders Place Their Bets

In other PotlatchDeltic news, CFO Wayne Wasechek sold 1,293 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now directly owns 27,701 shares in the company, valued at $1,241,558.82. This trade represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value 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. The trade was a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,651 shares of company stock worth $834,770. 1.00% of the stock is currently owned by company 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.