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

Crestline Management LP purchased a new position in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCH. Baird Financial Group Inc. grew its stake in PotlatchDeltic by 6.8% during the fourth quarter. Baird Financial Group Inc. now owns 77,729 shares of the real estate investment trust's stock valued at $3,051,000 after acquiring an additional 4,963 shares in the last quarter. Balyasny Asset Management L.P. grew its position in shares of PotlatchDeltic by 256.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 567,371 shares of the real estate investment trust's stock valued at $22,269,000 after purchasing an additional 408,355 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of PotlatchDeltic by 11.0% in the fourth quarter. Bank of America Corp DE now owns 745,033 shares of the real estate investment trust's stock worth $29,243,000 after purchasing an additional 73,781 shares during the last quarter. Algert Global LLC purchased a new stake in shares of PotlatchDeltic in the fourth quarter worth about $283,000. Finally, Ancora Advisors LLC boosted its stake in PotlatchDeltic by 39.4% during the fourth quarter. Ancora Advisors LLC now owns 333,639 shares of the real estate investment trust's stock valued at $13,095,000 after buying an additional 94,348 shares during the last quarter. Hedge funds and other institutional investors own 86.06% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. DA Davidson set a $54.00 price target on PotlatchDeltic in a research report on Wednesday, January 29th. Citigroup decreased their price target on PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. Truist Financial dropped their price objective on shares of PotlatchDeltic from $44.00 to $42.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. 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 issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.43.

PotlatchDeltic Price Performance

Shares of PCH stock opened at $38.62 on Tuesday. The company has a market capitalization of $3.04 billion, a P/E ratio of 137.93 and a beta of 1.16. The company's 50-day simple moving average is $42.35 and its two-hundred day simple moving average is $42.35. PotlatchDeltic Co. has a one year low of $36.82 and a one year high of $48.12. 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 announced its quarterly 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. PotlatchDeltic had a return on equity of 1.05% and a net margin of 2.06%. The firm had revenue of $268.26 million for the quarter, compared to analyst estimates of $243.68 million. The business's quarterly revenue was up 17.6% on a year-over-year basis. As a group, equities analysts anticipate that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.80 annualized dividend and a yield of 4.66%. PotlatchDeltic's dividend payout ratio (DPR) is presently 295.08%.

Insider Activity

In other news, VP Michele Tyler sold 3,170 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $44.72, for a total value of $141,762.40. Following the sale, the vice president now directly owns 39,446 shares in the company, valued at approximately $1,764,025.12. This trade represents a 7.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Wayne Wasechek sold 1,293 shares of the business'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 transaction, the chief financial officer now owns 27,701 shares of the company's stock, valued at approximately $1,241,558.82. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,651 shares of company stock worth $834,770. 1.00% of the stock is currently owned by company insiders.

PotlatchDeltic 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.

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