Parvin Asset Management LLC Buys Shares of 7,995 PotlatchDeltic Co. (NASDAQ:PCH)

Parvin Asset Management LLC purchased a new stake in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,995 shares of the real estate investment trust's stock, valued at approximately $314,000.

A number of other institutional investors also recently bought and sold shares of the company. Quarry LP grew its stake in shares of PotlatchDeltic by 224.2% in the 4th quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 482 shares during the last quarter. Fifth Third Bancorp grew its position in 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 acquiring an additional 818 shares during the period. Sterling Capital Management LLC raised its stake in shares of PotlatchDeltic by 806.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,503 shares of the real estate investment trust's stock valued at $98,000 after acquiring an additional 2,227 shares during the period. GeoWealth Management LLC acquired a new position in shares of PotlatchDeltic during the fourth quarter worth $131,000. Finally, KBC Group NV grew its position 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 worth $145,000 after buying an additional 1,483 shares in the last quarter. 86.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Eric J. Cremers sold 14,188 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 281,133 shares of the company's stock, valued at $12,583,513.08. This represents a 4.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michele Tyler sold 3,170 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $44.72, for a total transaction of $141,762.40. Following the sale, the vice president now owns 39,446 shares in the company, valued at approximately $1,764,025.12. This represents a 7.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,651 shares of company stock worth $834,770 over the last quarter. Company insiders own 1.00% of the company's stock.

PotlatchDeltic Trading Up 1.8 %

Shares of PCH traded up $0.69 during mid-day trading on Friday, reaching $38.86. The company's stock had a trading volume of 658,612 shares, compared to its average volume of 456,227. The stock has a market cap of $3.06 billion, a PE ratio of 138.79 and a beta of 1.12. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46. The company's fifty day moving average price is $42.49 and its two-hundred day moving average price is $42.41. PotlatchDeltic Co. has a 52 week low of $36.82 and a 52 week high of $48.12.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last issued its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 EPS for the quarter, beating the consensus estimate of $0.20 by $0.13. The business had revenue of $268.26 million for the quarter, compared to the consensus estimate of $243.68 million. PotlatchDeltic had a return on equity of 1.05% and a net margin of 2.06%. PotlatchDeltic's quarterly revenue was up 17.6% on a year-over-year basis. On average, analysts predict that PotlatchDeltic Co. will post 0.8 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.80 annualized dividend and a dividend yield of 4.63%. PotlatchDeltic's dividend payout ratio (DPR) is presently 295.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Citigroup decreased their price objective on PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. Truist Financial cut their price objective on PotlatchDeltic from $44.00 to $42.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. DA Davidson set a $54.00 target price on PotlatchDeltic in a research report on Wednesday, January 29th. Finally, StockNews.com upgraded PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.