Citigroup Inc. Cuts Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Citigroup Inc. reduced its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 84.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,274 shares of the real estate investment trust's stock after selling 28,376 shares during the period. Citigroup Inc.'s holdings in PotlatchDeltic were worth $239,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in PotlatchDeltic by 13.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,311 shares of the real estate investment trust's stock valued at $1,335,000 after acquiring an additional 3,064 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of PotlatchDeltic by 3.0% during the 1st quarter. BlackRock Inc. now owns 8,962,038 shares of the real estate investment trust's stock valued at $472,566,000 after acquiring an additional 258,490 shares in the last quarter. APG Asset Management N.V. increased its position in shares of PotlatchDeltic by 99.4% in the 1st quarter. APG Asset Management N.V. now owns 32,500 shares of the real estate investment trust's stock worth $1,540,000 after purchasing an additional 16,200 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of PotlatchDeltic by 11.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 39,159 shares of the real estate investment trust's stock worth $2,120,000 after acquiring an additional 4,003 shares during the period. Finally, Yousif Capital Management LLC lifted its stake in PotlatchDeltic by 7.3% during the first quarter. Yousif Capital Management LLC now owns 37,230 shares of the real estate investment trust's stock valued at $1,963,000 after purchasing an additional 2,546 shares during the last quarter. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCH has been the subject of several analyst reports. Royal Bank of Canada reissued a "sector perform" rating and set a $48.00 price target on shares of PotlatchDeltic in a report on Wednesday, January 31st. Truist Financial lowered their price target on shares of PotlatchDeltic from $51.00 to $49.00 and set a "hold" rating for the company in a report on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $51.33.

Insider Activity

In related news, CFO Wayne Wasechek sold 1,565 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.13, for a total value of $70,628.45. Following the completion of the sale, the chief financial officer now directly owns 21,247 shares in the company, valued at $958,877.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other PotlatchDeltic news, CFO Wayne Wasechek sold 1,565 shares of the business's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $45.13, for a total value of $70,628.45. Following the completion of the sale, the chief financial officer now owns 21,247 shares of the company's stock, valued at approximately $958,877.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric J. Cremers sold 17,591 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.13, for a total transaction of $793,881.83. Following the completion of the sale, the chief executive officer now directly owns 241,111 shares in the company, valued at $10,881,339.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,124 shares of company stock valued at $1,043,626. Insiders own 2.00% of the company's stock.

PotlatchDeltic Stock Up 0.1 %

NASDAQ PCH traded up $0.06 during trading on Thursday, reaching $47.02. 355,253 shares of the company's stock were exchanged, compared to its average volume of 440,809. The company has a 50 day moving average price of $45.47 and a two-hundred day moving average price of $45.97. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.14 and a current ratio of 1.44. The stock has a market cap of $3.74 billion, a P/E ratio of 61.07 and a beta of 1.15. PotlatchDeltic Co. has a 1 year low of $41.31 and a 1 year high of $54.44.

PotlatchDeltic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.80 dividend on an annualized basis and a yield of 3.83%. PotlatchDeltic's dividend payout ratio (DPR) is 233.77%.

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.