Zacks Investment Management Buys New Position in PotlatchDeltic Co. (NASDAQ:PCH)

Zacks Investment Management acquired a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,572 shares of the real estate investment trust's stock, valued at approximately $454,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EagleClaw Capital Managment LLC increased its stake in shares of PotlatchDeltic by 0.5% in the 4th quarter. EagleClaw Capital Managment LLC now owns 62,225 shares of the real estate investment trust's stock valued at $2,442,000 after purchasing an additional 300 shares during the last quarter. Xponance Inc. grew its position in PotlatchDeltic by 4.3% in the fourth quarter. Xponance Inc. now owns 10,706 shares of the real estate investment trust's stock valued at $420,000 after acquiring an additional 446 shares during the last quarter. Fiduciary Counselling Inc. raised its stake in PotlatchDeltic by 0.5% during the fourth quarter. Fiduciary Counselling Inc. now owns 116,716 shares of the real estate investment trust's stock worth $4,581,000 after acquiring an additional 607 shares in the last quarter. LPL Financial LLC raised its stake in PotlatchDeltic by 3.3% during the fourth quarter. LPL Financial LLC now owns 20,266 shares of the real estate investment trust's stock worth $795,000 after acquiring an additional 654 shares in the last quarter. Finally, Stephens Inc. AR boosted its stake in shares of PotlatchDeltic by 9.0% in the 4th quarter. Stephens Inc. AR now owns 7,995 shares of the real estate investment trust's stock valued at $314,000 after purchasing an additional 662 shares in the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.

PotlatchDeltic Trading Up 0.1 %

NASDAQ PCH traded up $0.03 during mid-day trading on Thursday, reaching $39.05. 591,876 shares of the stock were exchanged, compared to its average volume of 448,879. The stock has a market cap of $3.07 billion, a P/E ratio of 139.46 and a beta of 1.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.08. PotlatchDeltic Co. has a one year low of $36.82 and a one year high of $48.12. The stock has a 50 day simple moving average of $43.36 and a 200-day simple moving average of $42.62.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.07 earnings per share (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, analysts anticipate that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Friday, March 7th. PotlatchDeltic's dividend payout ratio (DPR) is 642.86%.

Insider Activity

In related news, CEO Eric J. Cremers sold 14,188 shares of the company'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 transaction, the chief executive officer now directly owns 281,133 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Also, CFO Wayne Wasechek sold 1,293 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 27,701 shares in the company, valued at approximately $1,241,558.82. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,651 shares of company stock worth $834,770 in the last quarter. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PCH. Truist Financial reduced their price objective on PotlatchDeltic from $44.00 to $42.00 and set a "hold" rating on the stock in a research report on Tuesday. Citigroup reduced their price target on PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. StockNews.com upgraded shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Finally, DA Davidson set a $54.00 price target on shares of PotlatchDeltic in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $48.43.

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.