PotlatchDeltic Co. (NASDAQ:PCH) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 970,986 shares of the real estate investment trust's stock after selling 41,448 shares during the period. Bank of New York Mellon Corp owned approximately 1.23% of PotlatchDeltic worth $38,111,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Creative Planning boosted its holdings in shares of PotlatchDeltic by 13.6% in the third quarter. Creative Planning now owns 5,835 shares of the real estate investment trust's stock valued at $263,000 after acquiring an additional 699 shares during the period. Windward Capital Management Co. CA raised its position in PotlatchDeltic by 1.1% in the 3rd quarter. Windward Capital Management Co. CA now owns 70,939 shares of the real estate investment trust's stock valued at $3,196,000 after purchasing an additional 750 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in PotlatchDeltic by 5.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 45,495 shares of the real estate investment trust's stock worth $2,050,000 after purchasing an additional 2,359 shares during the period. Versor Investments LP purchased a new position in PotlatchDeltic during the 3rd quarter worth $257,000. Finally, Entropy Technologies LP increased its stake in PotlatchDeltic by 52.9% in the third quarter. Entropy Technologies LP now owns 9,248 shares of the real estate investment trust's stock valued at $417,000 after purchasing an additional 3,200 shares during the period. 86.06% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, VP Michele Tyler sold 3,170 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 39,446 shares of the company's stock, valued at $1,764,025.12. The trade was a 7.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric J. Cremers sold 14,188 shares of the firm'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 transaction of $635,054.88. Following the sale, the chief executive officer now owns 281,133 shares in the company, 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. Over the last 90 days, insiders sold 18,651 shares of company stock valued at $834,770. Corporate insiders own 2.00% of the company's stock.

PotlatchDeltic Price Performance

Shares of PCH stock traded down $0.39 during midday trading on Monday, reaching $45.89. 611,831 shares of the company traded hands, compared to its average volume of 410,507. The firm's 50 day simple moving average is $43.15 and its two-hundred day simple moving average is $43.02. The firm has a market cap of $3.62 billion, a PE ratio of 163.89 and a beta of 1.14. 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 Co. has a 1-year low of $37.06 and a 1-year high of $48.85.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.07 earnings per share (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 expect 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 will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Friday, March 7th. PotlatchDeltic's dividend payout ratio (DPR) is presently 642.86%.

Analysts Set New Price Targets

A number of research firms have weighed in on PCH. Raymond James raised PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $45.00 price objective for the company in a research report on Monday, December 23rd. Citigroup lowered their price objective on shares of PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating on the stock in a research report on Wednesday, January 15th. BMO Capital Markets raised shares of PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 price objective on the stock in a research note on Friday, December 6th. DA Davidson set a $54.00 target price on shares of PotlatchDeltic in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, PotlatchDeltic presently 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.