PotlatchDeltic Co. (NASDAQ:PCH) Shares Acquired by Raymond James & Associates

Posted by on May 15th, 2023

Raymond James & Associates lifted its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 416,122 shares of the real estate investment trust’s stock after purchasing an additional 7,635 shares during the quarter. Raymond James & Associates owned about 0.52% of PotlatchDeltic worth $18,305,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its holdings in PotlatchDeltic by 1.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 21,664 shares of the real estate investment trust’s stock valued at $953,000 after acquiring an additional 209 shares in the last quarter. Fifth Third Bancorp increased its stake in PotlatchDeltic by 50.2% in the fourth 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 during the last quarter. Oregon Public Employees Retirement Fund increased its stake in PotlatchDeltic by 1.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,762 shares of the real estate investment trust’s stock valued at $1,045,000 after purchasing an additional 240 shares during the last quarter. Glenmede Trust Co. NA increased its stake in PotlatchDeltic by 5.2% in the third quarter. Glenmede Trust Co. NA now owns 5,356 shares of the real estate investment trust’s stock valued at $219,000 after purchasing an additional 265 shares during the last quarter. Finally, Adelante Capital Management LLC increased its stake in PotlatchDeltic by 1.9% in the third quarter. Adelante Capital Management LLC now owns 19,190 shares of the real estate investment trust’s stock valued at $788,000 after purchasing an additional 355 shares during the last quarter. Institutional investors and hedge funds own 80.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PCH. StockNews.com lowered shares of PotlatchDeltic from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Truist Financial dropped their price target on shares of PotlatchDeltic from $48.00 to $47.00 and set a “hold” rating on the stock in a research note on Wednesday, February 1st. DA Davidson lowered their target price on shares of PotlatchDeltic from $57.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, January 24th. Finally, Citigroup began coverage on shares of 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.40.

Insider Buying and Selling

In other news, VP William R. Dereu sold 1,040 shares of the company’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $47.06, for a total value of $48,942.40. Following the transaction, the vice president now owns 56,968 shares in the company, valued at approximately $2,680,914.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other PotlatchDeltic news, VP Michele Tyler sold 4,676 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $48.13, for a total transaction 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 $994,462.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William R. Dereu sold 1,040 shares of the company’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $47.06, for a total value of $48,942.40. Following 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 ninety days, insiders sold 99,028 shares of company stock valued at $4,667,676. Corporate insiders own 2.00% of the company’s stock.

PotlatchDeltic Trading Up 0.7 %

NASDAQ:PCH opened at $46.95 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.78 and a quick ratio of 3.25. PotlatchDeltic Co. has a 12-month low of $39.10 and a 12-month high of $56.09. The business has a 50 day simple moving average of $47.59 and a 200 day simple moving average of $46.69. The firm has a market capitalization of $3.75 billion, a P/E ratio of 17.99 and a beta of 1.18.

PotlatchDeltic (NASDAQ:PCH – Get Rating) last announced its quarterly earnings data on Monday, April 24th. The real estate investment trust reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.11. The business had revenue of $258.00 million during the quarter, compared to analyst estimates of $243.34 million. PotlatchDeltic had a return on equity of 8.87% and a net margin of 15.82%. The company’s revenue was down 37.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.50 earnings per share. Equities research analysts predict that PotlatchDeltic Co. will post 1.02 EPS for the current year.

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 2nd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.83%. The ex-dividend date is Thursday, June 1st. PotlatchDeltic’s payout ratio is 68.97%.

PotlatchDeltic Company 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.

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Institutional Ownership by Quarter for PotlatchDeltic (NASDAQ:PCH)

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