New York State Common Retirement Fund Buys 40,058 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

New York State Common Retirement Fund boosted its position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 17.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 271,698 shares of the real estate investment trust's stock after acquiring an additional 40,058 shares during the period. New York State Common Retirement Fund owned 0.34% of PotlatchDeltic worth $10,664,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp grew its position in PotlatchDeltic by 259.7% during the fourth quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust's stock worth $44,000 after buying an additional 818 shares in the last quarter. KBC Group NV grew its holdings in shares of PotlatchDeltic by 67.3% during the fourth quarter. KBC Group NV now owns 3,685 shares of the real estate investment trust's stock worth $145,000 after purchasing an additional 1,483 shares during the last quarter. Systematic Financial Management LP bought a new position in shares of PotlatchDeltic in the third quarter valued at about $166,000. FMR LLC raised its stake in shares of PotlatchDeltic by 20.4% during the third quarter. FMR LLC now owns 4,329 shares of the real estate investment trust's stock worth $195,000 after buying an additional 733 shares during the last quarter. Finally, Versor Investments LP bought a new position in PotlatchDeltic in the third quarter valued at approximately $257,000. 86.06% of the stock is currently owned by institutional investors.

Insider Activity at PotlatchDeltic

In other PotlatchDeltic news, CFO Wayne Wasechek sold 1,293 shares of the stock in a transaction 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 sale, the chief financial officer now 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 legal filing with the SEC, which is available through this link. Also, CEO Eric J. Cremers sold 14,188 shares of the business's stock in a transaction dated 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 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. Over the last quarter, insiders have 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 Up 0.5 %

NASDAQ PCH traded up $0.22 on Friday, reaching $46.43. The company had a trading volume of 642,585 shares, compared to its average volume of 429,627. The company's fifty day moving average is $42.25 and its 200-day moving average is $42.76. PotlatchDeltic Co. has a 1-year low of $37.06 and a 1-year high of $47.65. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 165.82 and a beta of 1.17. 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 released its earnings results 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, research analysts forecast that PotlatchDeltic Co. will post 0.8 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Friday, March 7th. PotlatchDeltic's payout ratio is 642.86%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PCH. Raymond James raised PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $45.00 price target on the stock in a research note on Monday, December 23rd. BMO Capital Markets upgraded PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 target price for the company in a research report on Friday, December 6th. Citigroup cut their target price on shares of PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. DA Davidson set a $54.00 price objective on PotlatchDeltic in a research note on Wednesday, January 29th. Finally, Truist Financial decreased 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 stock. Based on data from MarketBeat, the company 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.