Victory Capital Management Inc. Boosts Stock Position in PotlatchDeltic Co. (NASDAQ:PCH)

Victory Capital Management Inc. boosted its position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 91.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,976 shares of the real estate investment trust's stock after buying an additional 20,022 shares during the period. Victory Capital Management Inc. owned 0.05% of PotlatchDeltic worth $1,648,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PCH. Adelante Capital Management LLC grew 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 valued at $51,684,000 after purchasing an additional 1,115,272 shares in the last quarter. Heitman Real Estate Securities LLC purchased a new stake in shares of PotlatchDeltic in the third quarter valued at approximately $8,153,000. JPMorgan Chase & Co. grew 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 valued at $40,565,000 after purchasing an additional 163,774 shares in the last quarter. NFJ Investment Group LLC acquired a new position in PotlatchDeltic in the third quarter valued at approximately $5,878,000. Finally, Barclays PLC lifted its holdings in PotlatchDeltic by 147.7% in the third quarter. Barclays PLC now owns 163,784 shares of the real estate investment trust's stock valued at $7,378,000 after acquiring an additional 97,655 shares during the last quarter. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of research analysts recently commented on PCH shares. Raymond James upgraded PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a report on Monday, December 23rd. Truist Financial decreased their price objective on PotlatchDeltic from $45.00 to $44.00 and set a "hold" rating on the stock in a report on Monday, January 6th. DA Davidson set a $54.00 price objective on PotlatchDeltic in a report on Wednesday, January 29th. Citigroup decreased their price objective on PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. Finally, BMO Capital Markets upgraded PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 price objective on the stock in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $48.71.

PotlatchDeltic Trading Down 2.7 %

NASDAQ:PCH traded down $1.22 during trading hours on Friday, reaching $44.52. 989,991 shares of the stock were exchanged, compared to its average volume of 410,883. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average of $44.34 and a two-hundred day moving average of $43.16. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $48.12. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 159.00 and a beta of 1.14.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.07 EPS 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%. On average, equities analysts predict that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Friday, March 7th. PotlatchDeltic's payout ratio is currently 642.86%.

Insider Activity

In other news, CFO Wayne Wasechek sold 1,293 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $44.82, for a total value of $57,952.26. Following the sale, the chief financial officer now directly owns 27,701 shares in the company, valued at approximately $1,241,558.82. This trade represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric J. Cremers sold 14,188 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $44.76, for a total value of $635,054.88. Following the completion of the sale, the chief executive officer now owns 281,133 shares in the company, valued at approximately $12,583,513.08. The trade was a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,651 shares of company stock worth $834,770. Corporate 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.