Raymond James & Associates Lowers Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Raymond James & Associates trimmed its stake in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 39.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,676 shares of the real estate investment trust's stock after selling 112,736 shares during the period. Raymond James & Associates owned approximately 0.21% of PotlatchDeltic worth $8,331,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PCH. Manchester Capital Management LLC lifted its stake in shares of PotlatchDeltic by 2,132.0% in the 3rd quarter. Manchester Capital Management LLC now owns 558 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 533 shares during the last quarter. Millburn Ridgefield Corp bought a new stake in shares of PotlatchDeltic during the 3rd quarter worth approximately $28,000. Intrepid Capital Management Inc. bought a new stake in shares of PotlatchDeltic during the 2nd quarter worth approximately $30,000. Fifth Third Bancorp lifted its stake in shares of PotlatchDeltic by 43.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,002 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 305 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of PotlatchDeltic by 490.2% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 903 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 750 shares during the last quarter. 86.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PCH. Royal Bank of Canada reissued a "sector perform" rating and set a $48.00 price target on shares of PotlatchDeltic in a research note on Wednesday, January 31st. Truist Financial decreased their target price on PotlatchDeltic from $51.00 to $49.00 and set a "hold" rating for the company in a research report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $51.33.

Insider Buying and Selling at PotlatchDeltic

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

PotlatchDeltic Stock Performance

PotlatchDeltic stock traded down $0.10 during trading hours on Friday, hitting $45.25. 221,994 shares of the stock traded hands, compared to its average volume of 371,520. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.44 and a quick ratio of 1.14. The firm's 50 day moving average price is $45.39 and its 200-day moving average price is $45.94. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 58.77 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.80 annualized dividend and a yield of 3.98%. PotlatchDeltic's payout ratio is presently 233.77%.

PotlatchDeltic Company 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.