Peregrine Capital Management LLC Increases Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Peregrine Capital Management LLC lifted its position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 34.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 136,782 shares of the real estate investment trust's stock after buying an additional 35,102 shares during the quarter. Peregrine Capital Management LLC owned about 0.17% of PotlatchDeltic worth $5,369,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Adelante Capital Management LLC increased its position in shares of PotlatchDeltic by 3,486.3% in the third quarter. Adelante Capital Management LLC now owns 1,147,262 shares of the real estate investment trust's stock worth $51,684,000 after purchasing an additional 1,115,272 shares during the period. JPMorgan Chase & Co. increased its position in shares of PotlatchDeltic by 22.2% in the third quarter. JPMorgan Chase & Co. now owns 900,447 shares of the real estate investment trust's stock worth $40,565,000 after purchasing an additional 163,774 shares during the period. Curi RMB Capital LLC increased its position in shares of PotlatchDeltic by 0.5% in the third quarter. Curi RMB Capital LLC now owns 335,671 shares of the real estate investment trust's stock worth $15,122,000 after purchasing an additional 1,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of PotlatchDeltic by 29.2% in the third 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. Finally, Fisher Asset Management LLC increased its position in shares of PotlatchDeltic by 6.1% in the third quarter. Fisher Asset Management LLC now owns 226,035 shares of the real estate investment trust's stock worth $10,183,000 after purchasing an additional 13,006 shares during the period. Institutional investors and hedge funds own 86.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday, October 30th. BMO Capital Markets upgraded PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 target price on the stock in a research report on Friday, December 6th. StockNews.com upgraded PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Friday, January 31st. DA Davidson restated a "buy" rating and set a $53.00 price target on shares of PotlatchDeltic in a report on Tuesday, January 28th. Finally, Citigroup decreased their price objective 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.57.

PotlatchDeltic Stock Performance

NASDAQ:PCH traded down $0.34 during trading on Friday, reaching $45.10. The company's stock had a trading volume of 180,140 shares, compared to its average volume of 423,336. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 161.07 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. The firm has a 50 day moving average of $41.76 and a 200-day moving average of $42.65. PotlatchDeltic Co. has a 12 month low of $37.06 and a 12 month high of $47.65.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last announced 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%. Research analysts expect that PotlatchDeltic Co. will post 0.8 EPS for the current fiscal year.

PotlatchDeltic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.99%. PotlatchDeltic's dividend payout ratio is presently 642.86%.

Insider Activity

In related news, CEO Eric J. Cremers sold 14,188 shares of the 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michele Tyler sold 3,170 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $44.72, for a total value of $141,762.40. Following the sale, the vice president now directly owns 39,446 shares in the company, 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. Insiders have sold 18,651 shares of company stock valued at $834,770 in the last 90 days. Insiders own 2.00% of the company's stock.

About PotlatchDeltic

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.