Peregrine Capital Management LLC raised its position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 34.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 136,782 shares of the real estate investment trust's stock after buying an additional 35,102 shares during the quarter. Peregrine Capital Management LLC owned about 0.17% of PotlatchDeltic worth $5,369,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Fifth Third Bancorp lifted its position in shares of PotlatchDeltic by 259.7% during the fourth quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 818 shares during the last quarter. KBC Group NV increased its holdings in shares of PotlatchDeltic by 67.3% during the fourth quarter. KBC Group NV now owns 3,685 shares of the real estate investment trust's stock valued at $145,000 after acquiring an additional 1,483 shares in the last quarter. Systematic Financial Management LP acquired a new position in shares of PotlatchDeltic during the third quarter valued at about $166,000. FMR LLC increased its holdings in shares of PotlatchDeltic by 20.4% during the third quarter. FMR LLC now owns 4,329 shares of the real estate investment trust's stock valued at $195,000 after acquiring an additional 733 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of PotlatchDeltic during the third quarter valued at about $257,000. 86.06% of the stock is owned by hedge funds and other institutional investors.
In other news, 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 transaction of $57,952.26. Following the transaction, the chief financial officer now owns 27,701 shares in the company, valued at $1,241,558.82. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric J. Cremers sold 14,188 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 281,133 shares in the company, valued at $12,583,513.08. This trade represents a 4.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,651 shares of company stock valued at $834,770 in the last 90 days. 1.00% of the stock is currently owned by company insiders.
Several equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Friday, January 31st. DA Davidson restated a "buy" rating and set a $53.00 price objective on shares of PotlatchDeltic in a report on Tuesday, January 28th. Citigroup cut their price objective on shares of PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. Raymond James upgraded shares of PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $45.00 price target on the stock in a report on Monday, December 23rd. Finally, BMO Capital Markets upgraded shares of PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 price target on the stock in a report on Friday, December 6th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $48.57.
View Our Latest Research Report on PCH
Shares of NASDAQ PCH opened at $44.53 on Thursday. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 159.04 and a beta of 1.17. PotlatchDeltic Co. has a 12 month low of $37.06 and a 12 month high of $47.65. The firm's 50 day simple moving average is $41.71 and its 200-day simple moving average is $42.63. 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 (NASDAQ:PCH - Get Free Report) last issued its quarterly earnings data 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 net margin of 2.06% and a return on equity of 1.05%. Analysts expect that PotlatchDeltic Co. will post 0.8 EPS for the current year.
The company 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 dividend of $0.45 per share. The ex-dividend date is Friday, March 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.04%. PotlatchDeltic's payout ratio is 642.86%.
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.
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