PotlatchDeltic Co. (NASDAQ:PCH) Stake Lessened by Engineers Gate Manager LP

Engineers Gate Manager LP cut its stake in PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 61.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,605 shares of the real estate investment trust’s stock after selling 15,315 shares during the period. Engineers Gate Manager LP’s holdings in PotlatchDeltic were worth $394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PCH. Accel Wealth Management bought a new stake in PotlatchDeltic during the third quarter worth approximately $27,000. Quadrant Capital Group LLC boosted its holdings in PotlatchDeltic by 289.8% during the third quarter. Quadrant Capital Group LLC now owns 877 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 652 shares in the last quarter. Wipfli Financial Advisors LLC bought a new stake in PotlatchDeltic during the third quarter worth approximately $43,000. Signaturefd LLC boosted its holdings in PotlatchDeltic by 166.4% during the third quarter. Signaturefd LLC now owns 1,124 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 702 shares in the last quarter. Finally, North Star Investment Management Corp. bought a new stake in PotlatchDeltic during the third quarter worth approximately $96,000. 80.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Michael J. Covey sold 48,248 shares of the firm’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $46.41, for a total transaction of $2,239,189.68. Following the transaction, the director now owns 116,768 shares in the company, valued at approximately $5,419,202.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Michael J. Covey sold 48,248 shares of the firm’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $46.41, for a total transaction of $2,239,189.68. Following the transaction, the director now owns 116,768 shares in the company, valued at approximately $5,419,202.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jerald W. Richards sold 1,359 shares of the firm’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $47.02, for a total transaction of $63,900.18. Following the transaction, the chief financial officer now owns 66,464 shares in the company, valued at approximately $3,125,137.28. The disclosure for this sale can be found here. Insiders sold a total of 99,028 shares of company stock worth $4,667,676 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

PotlatchDeltic Stock Up 0.3 %

PCH stock opened at $47.83 on Tuesday. PotlatchDeltic Co. has a 12-month low of $39.10 and a 12-month high of $58.13. The company has a quick ratio of 2.89, a current ratio of 3.37 and a debt-to-equity ratio of 0.44. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 10.05 and a beta of 1.17. The company has a 50 day moving average of $46.48 and a two-hundred day moving average of $45.52.

PotlatchDeltic (NASDAQ:PCH – Get Rating) last released its earnings results on Tuesday, January 31st. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). PotlatchDeltic had a return on equity of 17.02% and a net margin of 25.09%. The company had revenue of $253.14 million during the quarter, compared to analysts’ expectations of $242.91 million. During the same quarter in the previous year, the company earned $0.59 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts anticipate that PotlatchDeltic Co. will post 1.25 earnings per share for the current fiscal year.

PotlatchDeltic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 3rd will be given a $0.45 dividend. This is an increase from PotlatchDeltic’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, March 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 3.76%. PotlatchDeltic’s dividend payout ratio is presently 37.82%.

Wall Street Analysts Forecast Growth

PCH has been the subject of a number of research reports. Truist Financial reduced their target price on shares of PotlatchDeltic from $48.00 to $47.00 and set a “hold” rating for the company in a report on Wednesday, February 1st. Citigroup assumed coverage on shares of PotlatchDeltic in a research report on Wednesday, March 1st. They issued a “buy” rating for the company. DA Davidson reduced their price target on shares of PotlatchDeltic from $57.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, January 24th. Finally, StockNews.com downgraded shares of PotlatchDeltic from a “hold” rating to a “sell” rating in a research report on Tuesday, March 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.40.

About PotlatchDeltic

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PotlatchDeltic Corp. operates as a real estate investment trust, which engages in the ownership and management of acres of timberlands. It operates through the following segments: Timberlands, Wood Products, and Real Estate. The Timberland segment includes delivering logs, pulpwood, sawlogs, and stumpage.