International Assets Investment Management LLC Purchases Shares of 7,314 PotlatchDeltic Co. (NASDAQ:PCH)

Posted by Defense World Staff on Apr 15th, 2023

International Assets Investment Management LLC purchased a new stake in PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,314 shares of the real estate investment trust’s stock, valued at approximately $322,000.

Other hedge funds also recently bought and sold shares of the company. Accel Wealth Management acquired a new stake in PotlatchDeltic in the 3rd quarter valued at about $27,000. Fifth Third Bancorp raised its position in PotlatchDeltic by 50.2% in the 4th quarter. Fifth Third Bancorp now owns 706 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 236 shares in the last quarter. Quadrant Capital Group LLC raised its position in PotlatchDeltic by 289.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 877 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 652 shares in the last quarter. Ronald Blue Trust Inc. raised its position in PotlatchDeltic by 219.4% in the 4th quarter. Ronald Blue Trust Inc. now owns 990 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 680 shares in the last quarter. Finally, Wipfli Financial Advisors LLC acquired a new stake in PotlatchDeltic in the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 80.36% of the company’s stock.

Insiders Place Their Bets

In other PotlatchDeltic news, Director Michael J. Covey sold 48,248 shares of PotlatchDeltic stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $46.41, for a total transaction of $2,239,189.68. Following the transaction, the director now owns 116,768 shares of the company’s stock, valued at $5,419,202.88. The transaction was disclosed in a filing with the SEC, which is available at this link. In other PotlatchDeltic news, CFO Jerald W. Richards sold 1,359 shares of PotlatchDeltic stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $47.02, for a total value of $63,900.18. Following the transaction, the chief financial officer now directly owns 66,464 shares in the company, valued at approximately $3,125,137.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Covey sold 48,248 shares of PotlatchDeltic stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $46.41, for a total value of $2,239,189.68. Following the completion of the transaction, the director now owns 116,768 shares in the company, valued at $5,419,202.88. The disclosure for this sale can be found here. Insiders have sold a total of 99,028 shares of company stock valued at $4,667,676 over the last quarter. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PotlatchDeltic Price Performance

Shares of NASDAQ PCH opened at $48.68 on Friday. The firm has a market capitalization of $3.89 billion, a PE ratio of 10.23 and a beta of 1.18. PotlatchDeltic Co. has a fifty-two week low of $39.10 and a fifty-two week high of $58.13. The stock’s 50-day simple moving average is $47.78 and its 200-day simple moving average is $46.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.89 and a current ratio of 3.37.

PotlatchDeltic (NASDAQ:PCH – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.07). The firm had revenue of $253.14 million for the quarter, compared to analyst estimates of $242.91 million. PotlatchDeltic had a return on equity of 17.02% and a net margin of 25.09%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. As a group, equities research analysts forecast that PotlatchDeltic Co. will post 1.21 EPS for the current fiscal year.

PotlatchDeltic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 3rd were given a dividend of $0.45 per share. This is a positive change from PotlatchDeltic’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, March 2nd. This represents a $1.80 annualized dividend and a yield of 3.70%. PotlatchDeltic’s payout ratio is 37.82%.

About PotlatchDeltic

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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.