PotlatchDeltic Co. (NASDAQ:PCH) Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC reduced its position in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,552 shares of the real estate investment trust's stock after selling 8,064 shares during the quarter. Horizon Kinetics Asset Management LLC owned approximately 0.06% of PotlatchDeltic worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Adelante Capital Management LLC raised its stake in PotlatchDeltic by 3,486.3% during the 3rd quarter. Adelante Capital Management LLC now owns 1,147,262 shares of the real estate investment trust's stock valued at $51,684,000 after purchasing an additional 1,115,272 shares during the period. Heitman Real Estate Securities LLC bought a new stake in shares of PotlatchDeltic during the third quarter valued at approximately $8,153,000. JPMorgan Chase & Co. lifted its holdings 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 buying an additional 163,774 shares in the last quarter. NFJ Investment Group LLC purchased a new position in shares of PotlatchDeltic in the third quarter worth $5,878,000. Finally, Barclays PLC boosted its position in shares of PotlatchDeltic by 147.7% during the third quarter. Barclays PLC now owns 163,784 shares of the real estate investment trust's stock worth $7,378,000 after acquiring an additional 97,655 shares during the last quarter. 86.06% of the stock is currently owned by institutional investors.

Remove Ads

Insider Activity

In other news, CFO Wayne Wasechek sold 1,293 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $44.82, for a total value of $57,952.26. Following the transaction, the chief financial officer now directly owns 27,701 shares in the company, valued at approximately $1,241,558.82. This represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Eric J. Cremers sold 14,188 shares of the company's 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 completion of the transaction, the chief executive officer now owns 281,133 shares in the company, valued at $12,583,513.08. This represents a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,651 shares of company stock valued at $834,770. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

PCH has been the topic of a number of research reports. DA Davidson set a $54.00 price target on shares of PotlatchDeltic in a report on Wednesday, January 29th. 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. Citigroup dropped their price target on PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. 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. Finally, Truist Financial lowered their target price on PotlatchDeltic from $45.00 to $44.00 and set a "hold" rating for the company in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $48.71.

PotlatchDeltic Trading Down 2.7 %

NASDAQ:PCH traded down $1.22 during midday trading on Friday, hitting $44.52. 989,991 shares of the company traded hands, compared to its average volume of 410,604. The firm has a market capitalization of $3.51 billion, a P/E ratio of 159.00 and a beta of 1.14. The firm's fifty day moving average is $44.22 and its 200-day moving average is $43.15. PotlatchDeltic Co. has a 12-month low of $37.06 and a 12-month high of $48.12. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last released its 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 net margin of 2.06% and a return on equity of 1.05%. On average, sell-side analysts predict that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, March 7th. This represents a $1.80 annualized dividend and a dividend yield of 4.04%. PotlatchDeltic's dividend payout ratio (DPR) is presently 642.86%.

PotlatchDeltic 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.