Norges Bank Invests $217.15 Million in PotlatchDeltic Co. (NASDAQ:PCH)

Norges Bank acquired a new position in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,532,360 shares of the real estate investment trust's stock, valued at approximately $217,145,000. Norges Bank owned 7.02% of PotlatchDeltic as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCH. Fifth Third Bancorp grew its stake in shares of PotlatchDeltic by 259.7% during the 4th quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust's stock worth $44,000 after acquiring an additional 818 shares during the period. KBC Group NV lifted its holdings in PotlatchDeltic by 67.3% during the fourth quarter. KBC Group NV now owns 3,685 shares of the real estate investment trust's stock valued at $145,000 after purchasing an additional 1,483 shares during the last quarter. Systematic Financial Management LP bought a new position in PotlatchDeltic during the third quarter worth about $166,000. FMR LLC boosted its position in 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 purchasing an additional 733 shares during the period. Finally, Paloma Partners Management Co purchased a new position in shares of PotlatchDeltic in the third quarter worth about $284,000. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCH has been the topic of a number of recent research reports. 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 note on Monday, January 6th. BMO Capital Markets raised PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 price target for the company in a report on Friday, December 6th. DA Davidson set a $54.00 price target on PotlatchDeltic in a research report on Wednesday, January 29th. 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 report on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $48.71.

Insider Activity

In related news, 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 value 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Wayne Wasechek sold 1,293 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $44.82, for a total transaction of $57,952.26. Following the completion of the sale, the chief financial officer now owns 27,701 shares of the company's stock, valued at approximately $1,241,558.82. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,651 shares of company stock worth $834,770. 2.00% of the stock is currently owned by corporate insiders.

PotlatchDeltic Price Performance

PotlatchDeltic stock traded down $2.15 during midday trading on Friday, hitting $40.38. 735,434 shares of the company's stock were exchanged, compared to its average volume of 436,277. The company has a market cap of $3.18 billion, a P/E ratio of 144.21 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. The stock has a 50-day moving average price of $44.86 and a two-hundred day moving average price of $43.22. PotlatchDeltic Co. has a 52-week low of $33.00 and a 52-week high of $48.12.

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 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, equities research analysts forecast that PotlatchDeltic Co. will post 0.8 earnings per share for the current year.

PotlatchDeltic Dividend Announcement

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

PotlatchDeltic 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.