Corebridge Financial Inc. Lowers Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Corebridge Financial Inc. lessened its holdings in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 5.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,098 shares of the real estate investment trust's stock after selling 6,764 shares during the period. Corebridge Financial Inc. owned 0.15% of PotlatchDeltic worth $4,714,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PCH. Fifth Third Bancorp raised its position 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 valued at $44,000 after buying an additional 818 shares in the last quarter. KBC Group NV raised its position 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 in the last quarter. Systematic Financial Management LP purchased a new stake in PotlatchDeltic during the third quarter valued at about $166,000. FMR LLC lifted its stake 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 last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of PotlatchDeltic in the 3rd quarter worth about $284,000. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PotlatchDeltic

In other news, CEO Eric J. Cremers sold 14,188 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $44.76, for a total value of $635,054.88. Following the sale, the chief executive officer now directly owns 281,133 shares of the company's stock, valued at $12,583,513.08. This represents a 4.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction 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 approximately $1,764,025.12. The trade was a 7.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,651 shares of company stock worth $834,770 over the last 90 days. 2.00% of the stock is owned by company insiders.

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Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. StockNews.com raised PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Friday, January 31st. DA Davidson set a $54.00 price objective on shares of PotlatchDeltic in a report on Wednesday, January 29th. BMO Capital Markets upgraded shares of 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. Raymond James upgraded shares of PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $45.00 price target for the company in a research report on Monday, December 23rd. Finally, Citigroup reduced their price objective on PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating on the stock in a research note on Wednesday, January 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.71.

PotlatchDeltic Trading Up 0.1 %

PCH traded up $0.04 during midday trading on Wednesday, reaching $44.86. 418,650 shares of the company's stock traded hands, compared to its average volume of 434,161. PotlatchDeltic Co. has a 52 week low of $37.06 and a 52 week high of $48.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.08. The firm has a fifty day moving average of $44.81 and a two-hundred day moving average of $43.25. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 160.21 and a beta of 1.14.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last announced its earnings results on Monday, January 27th. The real estate investment trust reported $0.07 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%. On average, equities analysts anticipate that PotlatchDeltic Co. will post 0.8 earnings per share 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 paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Friday, March 7th. PotlatchDeltic's payout ratio is 642.86%.

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.