Renaissance Technologies LLC Sells 78,300 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Renaissance Technologies LLC trimmed its position in PotlatchDeltic Co. (NASDAQ:PCH - Free Report) by 51.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,099 shares of the real estate investment trust's stock after selling 78,300 shares during the quarter. Renaissance Technologies LLC owned about 0.09% of PotlatchDeltic worth $2,908,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of PCH. Barclays PLC boosted its holdings in shares of PotlatchDeltic by 147.7% in the 3rd quarter. Barclays PLC now owns 163,784 shares of the real estate investment trust's stock worth $7,378,000 after acquiring an additional 97,655 shares in the last quarter. JPMorgan Chase & Co. raised its position in PotlatchDeltic by 22.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 900,447 shares of the real estate investment trust's stock worth $40,565,000 after purchasing an additional 163,774 shares during the last quarter. Empirical Asset Management LLC bought a new position in PotlatchDeltic in the 4th quarter worth approximately $1,773,000. Procyon Advisors LLC raised its position in PotlatchDeltic by 37.3% in the 4th quarter. Procyon Advisors LLC now owns 9,241 shares of the real estate investment trust's stock worth $363,000 after purchasing an additional 2,511 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of PotlatchDeltic by 259.7% during the 4th quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 818 shares during the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Eric J. Cremers sold 14,188 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer now owns 281,133 shares in the company, valued at approximately $12,583,513.08. This represents a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michele Tyler sold 3,170 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $44.72, for a total value of $141,762.40. Following the completion of the sale, the vice president now owns 39,446 shares of the company's stock, valued at approximately $1,764,025.12. The trade was a 7.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,651 shares of company stock valued at $834,770 over the last three months. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on PCH. StockNews.com upgraded shares of PotlatchDeltic from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Citigroup lowered their target price on PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating for the company in a report on Wednesday, January 15th. Truist Financial lowered their target price on PotlatchDeltic from $44.00 to $42.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Finally, DA Davidson set a $54.00 target price on PotlatchDeltic in a report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $48.43.

PotlatchDeltic Price Performance

NASDAQ:PCH traded down $1.41 during midday trading on Tuesday, hitting $38.04. The company had a trading volume of 169,946 shares, compared to its average volume of 450,209. PotlatchDeltic Co. has a 52-week low of $36.82 and a 52-week high of $48.12. The stock's fifty day moving average price is $43.04 and its 200-day moving average price is $42.53. The company has a market capitalization of $3.00 billion, a PE ratio of 136.27 and a beta of 1.12. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.46.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last posted its quarterly earnings results 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. PotlatchDeltic had a net margin of 2.06% and a return on equity of 1.05%. The business had revenue of $268.26 million during the quarter, compared to analyst estimates of $243.68 million. PotlatchDeltic's revenue was up 17.6% on a year-over-year basis. As a group, research analysts expect that PotlatchDeltic Co. will post 0.8 earnings per share for the current year.

PotlatchDeltic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date was Friday, March 7th. PotlatchDeltic's payout ratio is currently 642.86%.

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.