Louisiana State Employees Retirement System Purchases New Shares in PotlatchDeltic Co. (NASDAQ:PCH)

Louisiana State Employees Retirement System purchased a new stake in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,300 shares of the real estate investment trust's stock, valued at approximately $1,095,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of PotlatchDeltic by 21.2% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 759,426 shares of the real estate investment trust's stock valued at $34,470,000 after buying an additional 133,066 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of PotlatchDeltic by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,310,548 shares of the real estate investment trust's stock worth $59,486,000 after purchasing an additional 43,924 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of PotlatchDeltic by 16.8% in the 3rd quarter. Victory Capital Management Inc. now owns 151,074 shares of the real estate investment trust's stock worth $6,857,000 after purchasing an additional 21,696 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in PotlatchDeltic by 92.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 27,467 shares of the real estate investment trust's stock worth $1,246,000 after buying an additional 13,192 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in PotlatchDeltic in the third quarter worth approximately $556,000. 86.06% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Eric J. Cremers sold 17,591 shares of the firm'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 $793,881.83. Following the sale, the chief executive officer now owns 241,111 shares in the company, valued at $10,881,339.43. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other PotlatchDeltic news, VP Michele Tyler sold 3,968 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $45.14, for a total value of $179,115.52. Following the completion of the sale, the vice president now owns 31,864 shares in the company, valued at approximately $1,438,340.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $793,881.83. Following the completion of the transaction, the chief executive officer now owns 241,111 shares of the company's stock, valued at $10,881,339.43. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,124 shares of company stock valued at $1,043,626. 1.00% of the stock is owned by insiders.

PotlatchDeltic Stock Down 0.1 %

NASDAQ PCH traded down $0.04 during trading on Wednesday, hitting $41.41. 323,115 shares of the company traded hands, compared to its average volume of 414,367. PotlatchDeltic Co. has a 12 month low of $40.55 and a 12 month high of $54.44. The business has a fifty day simple moving average of $44.84 and a 200 day simple moving average of $45.72. The company has a market capitalization of $3.29 billion, a P/E ratio of 53.78 and a beta of 1.15. The company has a current ratio of 1.44, a quick ratio of 1.14 and a debt-to-equity ratio of 0.40.

PotlatchDeltic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend was Thursday, March 7th. PotlatchDeltic's dividend payout ratio (DPR) is 233.77%.

Analysts Set New Price Targets

A number of analysts have commented on PCH shares. Truist Financial reduced their price objective on shares of PotlatchDeltic from $51.00 to $49.00 and set a "hold" rating for the company in a research note on Wednesday, January 31st. Royal Bank of Canada reiterated a "sector perform" rating and set a $48.00 price objective on shares of PotlatchDeltic in a research report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, PotlatchDeltic has a consensus rating of "Hold" and an average price target of $51.33.

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.