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

Norges Bank purchased a new stake in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,532,360 shares of the real estate investment trust's stock, valued at approximately $217,145,000. Norges Bank owned approximately 7.02% of PotlatchDeltic at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PCH. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of PotlatchDeltic in the 3rd quarter worth about $372,000. Cerity Partners LLC lifted its holdings in PotlatchDeltic by 28.4% in the third quarter. Cerity Partners LLC now owns 22,812 shares of the real estate investment trust's stock worth $1,028,000 after acquiring an additional 5,049 shares during the last quarter. FMR LLC boosted its stake in PotlatchDeltic by 20.4% in the third quarter. FMR LLC now owns 4,329 shares of the real estate investment trust's stock valued at $195,000 after acquiring an additional 733 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of PotlatchDeltic by 76.2% during the third quarter. BNP Paribas Financial Markets now owns 70,998 shares of the real estate investment trust's stock valued at $3,198,000 after purchasing an additional 30,706 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of PotlatchDeltic by 29.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,946 shares of the real estate investment trust's stock worth $13,918,000 after purchasing an additional 69,887 shares during the period. 86.06% of the stock is currently owned by institutional investors.

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PotlatchDeltic Price Performance

Shares of NASDAQ PCH traded up $0.04 during mid-day trading on Wednesday, reaching $44.86. 418,650 shares of the company traded hands, compared to its average volume of 434,161. PotlatchDeltic Co. has a fifty-two week low of $37.06 and a fifty-two week high of $48.12. The firm has a market cap of $3.53 billion, a PE ratio of 160.21 and a beta of 1.14. The stock has a fifty day simple moving average of $44.81 and a 200-day simple moving average of $43.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.08.

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

PotlatchDeltic Dividend Announcement

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 $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend was Friday, March 7th. PotlatchDeltic's dividend payout ratio (DPR) is presently 642.86%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PCH. BMO Capital Markets upgraded PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 price objective for the company in a research report on Friday, December 6th. DA Davidson set a $54.00 price target on shares of PotlatchDeltic in a research report on Wednesday, January 29th. Truist Financial cut their price objective 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. Raymond James upgraded shares of PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $45.00 target price for the company in a research report on Monday, December 23rd. Finally, StockNews.com raised PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, PotlatchDeltic has a consensus rating of "Moderate Buy" and an average price target of $48.71.

Insider Buying and Selling at PotlatchDeltic

In other PotlatchDeltic news, CEO Eric J. Cremers sold 14,188 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 281,133 shares of the company's stock, valued at approximately $12,583,513.08. This represents a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michele Tyler sold 3,170 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $44.72, for a total value of $141,762.40. Following the sale, the vice president now owns 39,446 shares of the company's stock, valued at $1,764,025.12. This trade represents a 7.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,651 shares of company stock valued at $834,770. 2.00% of the stock is owned by 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.