Raymond James Financial Inc. Acquires New Position in PotlatchDeltic Co. (NASDAQ:PCH)

Raymond James Financial Inc. acquired a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,225 shares of the real estate investment trust's stock, valued at approximately $2,128,000. Raymond James Financial Inc. owned 0.07% of PotlatchDeltic as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc lifted its stake in PotlatchDeltic by 4.0% in the fourth quarter. Legal & General Group Plc now owns 2,498,762 shares of the real estate investment trust's stock valued at $98,076,000 after buying an additional 95,485 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of PotlatchDeltic by 41.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 33,548 shares of the real estate investment trust's stock valued at $1,317,000 after acquiring an additional 9,759 shares during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in PotlatchDeltic by 29.6% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 348,323 shares of the real estate investment trust's stock worth $13,672,000 after acquiring an additional 79,500 shares in the last quarter. Wells Fargo & Company MN grew its holdings in PotlatchDeltic by 5.2% in the fourth quarter. Wells Fargo & Company MN now owns 267,277 shares of the real estate investment trust's stock worth $10,491,000 after purchasing an additional 13,142 shares during the period. Finally, ExodusPoint Capital Management LP increased its stake in PotlatchDeltic by 219.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 48,568 shares of the real estate investment trust's stock valued at $1,906,000 after purchasing an additional 33,379 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.

PotlatchDeltic Stock Down 3.8 %

NASDAQ PCH traded down $1.46 on Tuesday, reaching $37.16. The company had a trading volume of 643,597 shares, compared to its average volume of 457,962. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.46. The company's fifty day moving average is $42.17 and its 200 day moving average is $42.31. PotlatchDeltic Co. has a 52-week low of $36.82 and a 52-week high of $48.12. The stock has a market capitalization of $2.93 billion, a P/E ratio of 132.71 and a beta of 1.16.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last announced its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 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 company had revenue of $268.26 million during the quarter, compared to the consensus estimate of $243.68 million. The company's quarterly revenue was up 17.6% on a year-over-year basis. Sell-side analysts anticipate that PotlatchDeltic Co. will post 0.8 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were paid a $0.45 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.84%. PotlatchDeltic's payout ratio is presently 295.08%.

Insider Activity

In other PotlatchDeltic news, CFO Wayne Wasechek sold 1,293 shares of PotlatchDeltic stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $44.82, for a total value of $57,952.26. Following the sale, the chief financial officer now owns 27,701 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this link. Also, CEO Eric J. Cremers sold 14,188 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $44.76, for a total transaction of $635,054.88. Following the transaction, the chief executive officer now directly 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. 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.

Analyst Upgrades and Downgrades

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