Adelante Capital Management LLC Has $1.33 Million Stock Position in PotlatchDeltic Co. (NASDAQ:PCH)

Adelante Capital Management LLC trimmed its position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 97.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,880 shares of the real estate investment trust's stock after selling 1,113,382 shares during the quarter. Adelante Capital Management LLC's holdings in PotlatchDeltic were worth $1,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Barclays PLC raised its holdings in PotlatchDeltic by 147.7% during the third quarter. Barclays PLC now owns 163,784 shares of the real estate investment trust's stock valued at $7,378,000 after buying an additional 97,655 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of PotlatchDeltic by 22.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 900,447 shares of the real estate investment trust's stock valued at $40,565,000 after acquiring an additional 163,774 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in PotlatchDeltic in the 4th quarter worth approximately $1,773,000. Procyon Advisors LLC boosted its position in PotlatchDeltic by 37.3% during the fourth quarter. Procyon Advisors LLC now owns 9,241 shares of the real estate investment trust's stock worth $363,000 after purchasing an additional 2,511 shares during the period. Finally, Fifth Third Bancorp grew its holdings 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 purchasing an additional 818 shares during the last quarter. Institutional investors own 86.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. DA Davidson set a $54.00 target price on shares of PotlatchDeltic in a research report on Wednesday, January 29th. Citigroup reduced their price objective on shares of PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. StockNews.com raised PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Finally, Truist Financial dropped their target price on PotlatchDeltic from $44.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, PotlatchDeltic currently has an average rating of "Moderate Buy" and a consensus target price of $48.43.

PotlatchDeltic Price Performance

PotlatchDeltic stock traded up $0.20 on Monday, reaching $39.06. The company's stock had a trading volume of 91,544 shares, compared to its average volume of 455,432. The business's fifty day moving average price is $42.49 and its 200 day moving average price is $42.39. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.08 and a current ratio of 1.49. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 139.48 and a beta of 1.12. PotlatchDeltic Co. has a twelve month low of $36.82 and a twelve month high of $48.12.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last announced its earnings results 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. PotlatchDeltic had a net margin of 2.06% and a return on equity of 1.05%. The company had revenue of $268.26 million during the quarter, compared to the consensus estimate of $243.68 million. PotlatchDeltic's quarterly revenue was up 17.6% on a year-over-year basis. Equities analysts expect that PotlatchDeltic Co. will post 0.8 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.80 dividend on an annualized basis and a yield of 4.61%. PotlatchDeltic's payout ratio is 295.08%.

Insider Activity

In other news, CFO Wayne Wasechek sold 1,293 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $44.82, for a total value of $57,952.26. Following the transaction, the chief financial officer now owns 27,701 shares of the company's stock, valued at $1,241,558.82. This represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eric J. Cremers sold 14,188 shares of PotlatchDeltic stock in a transaction on Monday, February 10th. The stock was 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 approximately $12,583,513.08. This trade represents a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,651 shares of company stock valued at $834,770. Company insiders own 1.00% of the company's stock.

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.