Hsbc Holdings PLC Grows Stake in PotlatchDeltic Co. (NASDAQ:PCH)

Hsbc Holdings PLC boosted its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 570.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,994 shares of the real estate investment trust's stock after buying an additional 36,582 shares during the period. Hsbc Holdings PLC owned approximately 0.05% of PotlatchDeltic worth $1,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in shares of PotlatchDeltic by 259.7% in the fourth quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 818 shares during the last quarter. Sterling Capital Management LLC raised its position in PotlatchDeltic by 806.9% during the fourth 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 in the last quarter. GeoWealth Management LLC acquired a new position in shares of PotlatchDeltic in the 4th quarter valued at $131,000. KBC Group NV boosted its stake in shares of PotlatchDeltic by 67.3% during the 4th quarter. KBC Group NV now owns 3,685 shares of the real estate investment trust's stock worth $145,000 after acquiring an additional 1,483 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in PotlatchDeltic during the fourth quarter worth approximately $150,000. Institutional investors and hedge funds own 86.06% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, CFO Wayne Wasechek sold 1,293 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $44.82, for a total value of $57,952.26. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Michele Tyler sold 3,170 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $44.72, for a total transaction 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. The trade was a 7.44 % 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. 1.00% of the stock is currently owned by insiders.

PotlatchDeltic Trading Up 1.1 %

NASDAQ:PCH traded up $0.43 during trading hours on Wednesday, hitting $37.59. The company had a trading volume of 72,501 shares, compared to its average volume of 456,463. PotlatchDeltic Co. has a 1 year low of $36.82 and a 1 year high of $48.12. The company has a market cap of $2.96 billion, a P/E ratio of 133.94 and a beta of 1.16. The company has a 50-day moving average of $42.17 and a 200 day moving average of $42.31. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating 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 business had revenue of $268.26 million during the quarter, compared to analysts' expectations of $243.68 million. The business's revenue for the quarter was up 17.6% on a year-over-year basis. Sell-side analysts expect that PotlatchDeltic Co. will post 0.8 earnings per share for the current year.

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Friday, March 7th. 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.