Parvin Asset Management LLC Takes Position in PotlatchDeltic Co. (NASDAQ:PCH)

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in PotlatchDeltic in the 4th quarter valued at $217,145,000. JPMorgan Chase & Co. increased its stake in shares of PotlatchDeltic by 27.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,145,473 shares of the real estate investment trust's stock worth $44,960,000 after purchasing an additional 245,026 shares during the last quarter. Ceredex Value Advisors LLC lifted its holdings in PotlatchDeltic by 90.6% during the fourth quarter. Ceredex Value Advisors LLC now owns 333,500 shares of the real estate investment trust's stock valued at $13,090,000 after purchasing an additional 158,500 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of PotlatchDeltic by 249.5% in the fourth quarter. AQR Capital Management LLC now owns 211,154 shares of the real estate investment trust's stock worth $8,288,000 after acquiring an additional 150,745 shares during the period. Finally, Northern Trust Corp grew its stake in PotlatchDeltic by 8.7% during the fourth quarter. Northern Trust Corp now owns 1,233,250 shares of the real estate investment trust's stock valued at $48,405,000 after acquiring an additional 98,914 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

PotlatchDeltic Trading Up 0.1 %

Shares of PotlatchDeltic stock traded up $0.02 during trading on Monday, reaching $38.88. 130,133 shares of the stock were exchanged, compared to its average volume of 455,573. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 138.89 and a beta of 1.12. PotlatchDeltic Co. has a 1 year low of $36.82 and a 1 year high of $48.12. The stock's fifty day moving average is $42.49 and its 200 day moving average is $42.39.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.13. The firm had revenue of $268.26 million for the quarter, compared to analyst estimates 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. As a group, equities research analysts expect 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. Shareholders of record on Friday, March 7th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, March 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.63%. PotlatchDeltic's dividend payout ratio (DPR) is 295.08%.

Insider Transactions at PotlatchDeltic

In other PotlatchDeltic news, VP Michele Tyler sold 3,170 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $44.72, for a total value of $141,762.40. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric J. Cremers sold 14,188 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $44.76, for a total transaction of $635,054.88. Following the sale, the chief executive officer now owns 281,133 shares in the company, valued at approximately $12,583,513.08. This trade represents a 4.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,651 shares of company stock valued at $834,770. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citigroup decreased their price target 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. Truist Financial decreased their price target on shares of 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 shares of PotlatchDeltic in a report on Wednesday, January 29th. Finally, StockNews.com raised shares of 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 assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $48.43.

About PotlatchDeltic

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.