KLP Kapitalforvaltning AS Takes $649,000 Position in PotlatchDeltic Co. (NASDAQ:PCH)

KLP Kapitalforvaltning AS bought a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,524 shares of the real estate investment trust's stock, valued at approximately $649,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCH. TCW Group Inc. bought a new position in shares of PotlatchDeltic during the 3rd quarter valued at about $1,923,000. Allspring Global Investments Holdings LLC grew its holdings in 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 buying an additional 7,567 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in PotlatchDeltic by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,542,771 shares of the real estate investment trust's stock worth $60,554,000 after acquiring an additional 70,745 shares during the last quarter. Weiss Asset Management LP bought a new stake in PotlatchDeltic in the 3rd quarter worth approximately $2,071,000. Finally, Stephens Inc. AR raised its holdings in shares of PotlatchDeltic by 9.0% during the 4th quarter. Stephens Inc. AR now owns 7,995 shares of the real estate investment trust's stock worth $314,000 after acquiring an additional 662 shares in the last quarter. Institutional investors own 86.06% of the company's stock.

PotlatchDeltic Trading Down 5.1 %

NASDAQ PCH traded down $2.15 during trading on Friday, hitting $40.38. The stock had a trading volume of 735,434 shares, compared to its average volume of 437,134. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 144.21 and a beta of 1.12. The stock has a 50 day simple moving average of $44.86 and a 200 day simple moving average of $43.18. PotlatchDeltic Co. has a one year low of $37.06 and a one year high of $48.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.08 and a current ratio of 1.49.

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PotlatchDeltic (NASDAQ:PCH - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.07 earnings per share (EPS) 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%. Sell-side analysts predict that PotlatchDeltic Co. will post 0.8 earnings per share for the current year.

PotlatchDeltic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.46%. The ex-dividend date was Friday, March 7th. PotlatchDeltic's payout ratio is 642.86%.

Insider Buying and Selling

In other 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 sale, the chief financial officer now directly owns 27,701 shares in the company, 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 that occurred on Monday, February 10th. The stock was sold at an average price of $44.76, for a total transaction of $635,054.88. Following the transaction, the chief executive officer now owns 281,133 shares of the company's stock, valued at approximately $12,583,513.08. This trade represents a 4.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,651 shares of company stock valued at $834,770 over the last 90 days. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

PCH has been the subject of a number of recent research reports. DA Davidson set a $54.00 target price on shares of PotlatchDeltic in a report on Wednesday, January 29th. StockNews.com raised shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Truist Financial decreased their target price 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 dropped their price target on PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating for the company in a research report on Wednesday, January 15th. Finally, Raymond James upgraded PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a research report on Monday, December 23rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, PotlatchDeltic has a consensus rating of "Moderate Buy" and a consensus target price 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.