Crestline Management LP Acquires New Shares in PotlatchDeltic Co. (NASDAQ:PCH)

Crestline Management LP bought a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 184,139 shares of the real estate investment trust's stock, valued at approximately $7,227,000. Crestline Management LP owned approximately 0.23% of PotlatchDeltic at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in PotlatchDeltic by 27.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,145,473 shares of the real estate investment trust's stock valued at $44,960,000 after acquiring an additional 245,026 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in PotlatchDeltic by 4.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 162,135 shares of the real estate investment trust's stock valued at $6,364,000 after acquiring an additional 7,567 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in PotlatchDeltic by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,542,771 shares of the real estate investment trust's stock valued at $60,554,000 after purchasing an additional 70,745 shares during the last quarter. Stephens Inc. AR grew its position in PotlatchDeltic by 9.0% during the 4th quarter. Stephens Inc. AR now owns 7,995 shares of the real estate investment trust's stock worth $314,000 after purchasing an additional 662 shares during the period. Finally, New York State Common Retirement Fund grew its position in PotlatchDeltic by 17.3% during the 4th quarter. New York State Common Retirement Fund now owns 271,698 shares of the real estate investment trust's stock worth $10,664,000 after purchasing an additional 40,058 shares during the period. Hedge funds and other institutional investors own 86.06% of the company's stock.

Insider Buying and Selling

In other PotlatchDeltic news, CEO Eric J. Cremers sold 14,188 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $44.76, for a total value of $635,054.88. Following the completion of the sale, the chief executive officer now owns 281,133 shares in the company, valued at approximately $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, CFO Wayne Wasechek sold 1,293 shares of the firm's 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 completion of the transaction, the chief financial officer now directly owns 27,701 shares in the company, valued at $1,241,558.82. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,651 shares of company stock worth $834,770. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

PotlatchDeltic Price Performance

NASDAQ PCH traded up $0.05 on Friday, hitting $38.20. The company had a trading volume of 695,496 shares, compared to its average volume of 461,108. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.08. The company has a market capitalization of $3.00 billion, a PE ratio of 136.43 and a beta of 1.16. PotlatchDeltic Co. has a 12-month low of $36.82 and a 12-month high of $48.12. The company's fifty day moving average price is $41.64 and its 200-day moving average price is $42.23.

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

PotlatchDeltic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend is Friday, June 6th. PotlatchDeltic's dividend payout ratio is presently 295.08%.

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.