Granite Investment Partners LLC Buys 32,624 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Granite Investment Partners LLC lifted its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 31.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 134,857 shares of the real estate investment trust's stock after purchasing an additional 32,624 shares during the period. Granite Investment Partners LLC owned 0.17% of PotlatchDeltic worth $5,293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Fifth Third Bancorp lifted its position in shares of PotlatchDeltic by 259.7% in the fourth quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 818 shares during the last quarter. Sterling Capital Management LLC lifted its holdings 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 valued at $98,000 after purchasing an additional 2,227 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 purchasing an additional 1,483 shares during the period. FMR LLC increased its holdings in shares of PotlatchDeltic by 20.4% in the third quarter. FMR LLC now owns 4,329 shares of the real estate investment trust's stock valued at $195,000 after purchasing an additional 733 shares during the last quarter. Finally, Stephens Inc. AR raised its position in shares of PotlatchDeltic by 9.0% in the fourth 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 period. Institutional investors own 86.06% of the company's stock.

PotlatchDeltic Price Performance

PotlatchDeltic stock traded up $0.99 during trading hours on Friday, reaching $39.73. 794,262 shares of the stock were exchanged, compared to its average volume of 445,620. 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 Co. has a twelve month low of $36.82 and a twelve month high of $48.12. The company has a market cap of $3.13 billion, a P/E ratio of 141.89 and a beta of 1.12. The stock has a 50 day moving average of $43.67 and a two-hundred day moving average of $42.73.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.10. PotlatchDeltic had a net margin of 2.06% and a return on equity of 1.05%. Equities analysts expect that PotlatchDeltic Co. will post 0.8 EPS for the current fiscal year.

PotlatchDeltic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Friday, March 7th. PotlatchDeltic's dividend payout ratio is presently 642.86%.

Analyst Upgrades and Downgrades

PCH has been the topic of several research analyst reports. DA Davidson set a $54.00 price target on shares of PotlatchDeltic in a report on Wednesday, January 29th. StockNews.com raised PotlatchDeltic from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Citigroup decreased their price objective on PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. Raymond James raised PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $45.00 target price for the company in a report on Monday, December 23rd. Finally, Truist Financial decreased their price target on shares of PotlatchDeltic from $45.00 to $44.00 and set a "hold" rating on the stock in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, PotlatchDeltic presently has an average rating of "Moderate Buy" and an average target price of $48.71.

Insiders Place Their Bets

In related news, VP Michele Tyler sold 3,170 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $44.72, for a total transaction of $141,762.40. Following the sale, the vice president now owns 39,446 shares of the company's stock, valued at $1,764,025.12. This trade represents a 7.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Eric J. Cremers sold 14,188 shares of the stock in a transaction dated Monday, February 10th. The shares were 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 owns 281,133 shares of the company's stock, valued at $12,583,513.08. This represents a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,651 shares of company stock valued at $834,770. 1.00% of the stock is currently owned by corporate insiders.

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.