Pinebridge Investments L.P. Increases Stake in PotlatchDeltic Co. (NASDAQ:PCH)

Pinebridge Investments L.P. increased its holdings in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 42.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,270 shares of the real estate investment trust's stock after purchasing an additional 21,021 shares during the quarter. Pinebridge Investments L.P. owned 0.09% of PotlatchDeltic worth $2,758,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Fifth Third Bancorp increased its stake in shares of 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 purchasing an additional 818 shares in the last quarter. Sterling Capital Management LLC increased its stake in PotlatchDeltic by 806.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,503 shares of the real estate investment trust's stock worth $98,000 after buying an additional 2,227 shares in the last quarter. GeoWealth Management LLC acquired a new position in shares of PotlatchDeltic during the fourth quarter valued at approximately $131,000. KBC Group NV lifted its position in shares of PotlatchDeltic by 67.3% in the fourth quarter. KBC Group NV now owns 3,685 shares of the real estate investment trust's stock valued at $145,000 after acquiring an additional 1,483 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of PotlatchDeltic in the fourth quarter worth approximately $150,000. Hedge funds and other institutional investors own 86.06% of the company's stock.

Insider Activity at PotlatchDeltic

In related news, CFO Wayne Wasechek sold 1,293 shares of PotlatchDeltic 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 in the company, valued at approximately $1,241,558.82. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric J. Cremers sold 14,188 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $44.76, for a total transaction of $635,054.88. Following the sale, the chief executive officer now owns 281,133 shares in the company, 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. In the last quarter, insiders sold 18,651 shares of company stock worth $834,770. Insiders own 1.00% of the company's stock.

PotlatchDeltic Trading Down 0.8 %

PCH stock traded down $0.32 during midday trading on Wednesday, hitting $38.39. 857,058 shares of the company's stock were exchanged, compared to its average volume of 455,187. PotlatchDeltic Co. has a 1-year low of $36.82 and a 1-year high of $48.12. The business has a 50-day simple moving average of $42.91 and a two-hundred day simple moving average of $42.50. The stock has a market capitalization of $3.02 billion, a PE ratio of 137.11 and a beta of 1.12. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.13. The firm had revenue of $268.26 million for the quarter, compared to analyst estimates of $243.68 million. PotlatchDeltic had a net margin of 2.06% and a return on equity of 1.05%. The firm's revenue for the quarter was up 17.6% on a year-over-year basis. On average, sell-side analysts predict that PotlatchDeltic Co. will post 0.8 EPS for the current fiscal year.

PotlatchDeltic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.69%. PotlatchDeltic's payout ratio is currently 642.86%.

Wall Street Analyst Weigh In

Several research firms recently commented on PCH. DA Davidson set a $54.00 price objective on PotlatchDeltic in a research note on Wednesday, January 29th. 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 research note on Tuesday, April 22nd. Citigroup dropped their price objective on shares of PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. Finally, StockNews.com raised shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $48.43.

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.