Ritholtz Wealth Management Increases Position in PotlatchDeltic Co. (NASDAQ:PCH)

Posted by Defense World Staff on Mar 29th, 2023

Ritholtz Wealth Management increased its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,038 shares of the real estate investment trust’s stock after buying an additional 405 shares during the quarter. Ritholtz Wealth Management’s holdings in PotlatchDeltic were worth $486,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Congress Asset Management Co. MA grew its holdings in shares of PotlatchDeltic by 0.9% during the fourth quarter. Congress Asset Management Co. MA now owns 144,946 shares of the real estate investment trust’s stock valued at $6,376,000 after buying an additional 1,234 shares during the last quarter. Ronald Blue Trust Inc. grew its holdings in shares of PotlatchDeltic by 219.4% during the fourth quarter. Ronald Blue Trust Inc. now owns 990 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 680 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of PotlatchDeltic by 4.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 35,286 shares of the real estate investment trust’s stock valued at $1,552,000 after buying an additional 1,455 shares during the last quarter. State of Alaska Department of Revenue lifted its position in PotlatchDeltic by 0.9% during the fourth quarter. State of Alaska Department of Revenue now owns 51,336 shares of the real estate investment trust’s stock valued at $2,257,000 after purchasing an additional 480 shares during the period. Finally, Peregrine Capital Management LLC lifted its position in PotlatchDeltic by 95.3% during the fourth quarter. Peregrine Capital Management LLC now owns 190,974 shares of the real estate investment trust’s stock valued at $8,401,000 after purchasing an additional 93,191 shares during the period. 80.36% of the stock is owned by hedge funds and other institutional investors.

PotlatchDeltic Stock Down 1.6 %

PCH opened at $46.79 on Wednesday. PotlatchDeltic Co. has a twelve month low of $39.10 and a twelve month high of $58.13. The company has a quick ratio of 2.89, a current ratio of 3.37 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $47.41 and a 200 day moving average price of $45.65. The company has a market cap of $3.74 billion, a PE ratio of 9.83 and a beta of 1.17.

PotlatchDeltic (NASDAQ:PCH – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.07). PotlatchDeltic had a return on equity of 17.02% and a net margin of 25.09%. The company had revenue of $253.14 million for the quarter, compared to analyst estimates of $242.91 million. During the same quarter last year, the company earned $0.59 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts expect that PotlatchDeltic Co. will post 1.25 earnings per share for the current fiscal year.

PotlatchDeltic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.85%. The ex-dividend date is Thursday, March 2nd. This is a boost from PotlatchDeltic’s previous quarterly dividend of $0.44. PotlatchDeltic’s dividend payout ratio is currently 37.82%.

Insider Activity at PotlatchDeltic

In other news, VP William R. Dereu sold 1,040 shares of the stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $47.06, for a total value of $48,942.40. Following the completion of the sale, the vice president now owns 56,968 shares of the company’s stock, valued at approximately $2,680,914.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Michele Tyler sold 4,676 shares of the stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $48.13, for a total value of $225,055.88. Following the completion of the sale, the vice president now owns 20,662 shares of the company’s stock, valued at approximately $994,462.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP William R. Dereu sold 1,040 shares of the stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $47.06, for a total transaction of $48,942.40. Following the completion of the sale, the vice president now directly owns 56,968 shares of the company’s stock, valued at approximately $2,680,914.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,028 shares of company stock valued at $4,667,676. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PCH. DA Davidson decreased their target price on shares of PotlatchDeltic from $57.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, January 24th. Truist Financial decreased their target price on shares of PotlatchDeltic from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Wednesday, February 1st. Citigroup started coverage on shares of PotlatchDeltic in a research report on Wednesday, March 1st. They set a “buy” rating for the company. Finally, StockNews.com started coverage on shares of PotlatchDeltic in a research report on Thursday, March 16th. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.40.

PotlatchDeltic Profile

(Get Rating)

PotlatchDeltic Corp. operates as a real estate investment trust, which engages in the ownership and management of acres of timberlands. It operates through the following segments: Timberlands, Wood Products, and Real Estate. The Timberland segment includes delivering logs, pulpwood, sawlogs, and stumpage.