Granite Investment Partners LLC Purchases 32,624 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Granite Investment Partners LLC increased its stake in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 31.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 134,857 shares of the real estate investment trust's stock after purchasing an additional 32,624 shares during the period. Granite Investment Partners LLC owned approximately 0.17% of PotlatchDeltic worth $5,293,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of PCH. FMR LLC boosted its position 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 buying an additional 733 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of PotlatchDeltic during the 3rd quarter valued at $558,000. Public Employees Retirement System of Ohio grew its position in PotlatchDeltic by 7.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 85,248 shares of the real estate investment trust's stock worth $3,840,000 after acquiring an additional 6,251 shares during the last quarter. Barclays PLC increased its holdings in PotlatchDeltic by 147.7% in the 3rd quarter. Barclays PLC now owns 163,784 shares of the real estate investment trust's stock worth $7,378,000 after purchasing an additional 97,655 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in PotlatchDeltic by 22.2% in the third quarter. JPMorgan Chase & Co. now owns 900,447 shares of the real estate investment trust's stock valued at $40,565,000 after purchasing an additional 163,774 shares during the last quarter. Institutional investors own 86.06% of the company's stock.

Insider Activity at PotlatchDeltic

In related news, VP Michele Tyler sold 3,170 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $44.72, for a total transaction of $141,762.40. Following the transaction, the vice president now directly owns 39,446 shares in the company, valued at approximately $1,764,025.12. The trade was a 7.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric J. Cremers sold 14,188 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $44.76, for a total transaction of $635,054.88. Following the completion of the sale, 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 have sold a total of 18,651 shares of company stock valued at $834,770 over the last 90 days. Insiders own 1.00% of the company's stock.

PotlatchDeltic Stock Up 2.6 %

Shares of PCH traded up $0.99 during trading hours on Friday, hitting $39.73. The stock had a trading volume of 794,262 shares, compared to its average volume of 445,676. PotlatchDeltic Co. has a 1-year low of $36.82 and a 1-year high of $48.12. The firm has a market capitalization of $3.13 billion, a P/E ratio of 141.89 and a beta of 1.12. The firm has a 50 day simple moving average of $43.77 and a 200-day simple moving average of $42.76. 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 earnings results on Monday, January 27th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping 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 EPS for the current fiscal year.

PotlatchDeltic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued a $0.45 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.53%. PotlatchDeltic's dividend payout ratio is presently 642.86%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citigroup reduced 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. StockNews.com raised PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Raymond James raised PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a research note on Monday, December 23rd. Truist Financial lowered their price target on shares of PotlatchDeltic from $45.00 to $44.00 and set a "hold" rating for the company in a report on Monday, January 6th. Finally, DA Davidson set a $54.00 price objective on shares of PotlatchDeltic in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, PotlatchDeltic has a consensus rating of "Moderate Buy" and an average price target 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.