Invesco Ltd. Sells 887,432 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Invesco Ltd. lessened its position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 79.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 225,587 shares of the real estate investment trust's stock after selling 887,432 shares during the quarter. Invesco Ltd. owned approximately 0.29% of PotlatchDeltic worth $8,854,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp boosted its position 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 worth $44,000 after acquiring an additional 818 shares during the last quarter. KBC Group NV boosted its position in PotlatchDeltic by 67.3% during the fourth 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 during the last quarter. Stephens Inc. AR boosted its holdings in shares of PotlatchDeltic by 9.0% in the 4th quarter. Stephens Inc. AR now owns 7,995 shares of the real estate investment trust's stock valued at $314,000 after purchasing an additional 662 shares during the last quarter. Procyon Advisors LLC boosted its holdings in shares of PotlatchDeltic by 37.3% in the 4th quarter. Procyon Advisors LLC now owns 9,241 shares of the real estate investment trust's stock valued at $363,000 after purchasing an additional 2,511 shares during the last quarter. Finally, Natural Investments LLC acquired a new position in shares of PotlatchDeltic in the 4th quarter valued at $370,000. Institutional investors and hedge funds own 86.06% of the company's stock.

Analysts Set New Price Targets

PCH has been the topic of a number of research analyst reports. StockNews.com upgraded shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Friday, January 31st. 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 report on Tuesday, April 22nd. 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. Finally, DA Davidson set a $54.00 target price on shares of PotlatchDeltic in a research note on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, PotlatchDeltic has an average rating of "Moderate Buy" and a consensus target price of $48.43.

Insider Transactions at PotlatchDeltic

In other news, CFO Wayne Wasechek sold 1,293 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 27,701 shares of the company's stock, valued at approximately $1,241,558.82. This represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric J. Cremers sold 14,188 shares of the firm's 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 completion of the transaction, 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. Insiders sold a total of 18,651 shares of company stock valued at $834,770 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

PotlatchDeltic Stock Performance

PCH traded down $1.41 during trading hours on Tuesday, hitting $38.03. The company's stock had a trading volume of 169,946 shares, compared to its average volume of 450,209. PotlatchDeltic Co. has a fifty-two week low of $36.82 and a fifty-two week high of $48.12. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.99 billion, a PE ratio of 136.27 and a beta of 1.12. The company has a 50-day simple moving average of $43.04 and a 200 day simple moving average of $42.53.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.13. The firm had revenue of $268.26 million during 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%. The firm's revenue was up 17.6% on a year-over-year basis. As a group, sell-side analysts expect that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend was Friday, March 7th. PotlatchDeltic's payout ratio is currently 642.86%.

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.