Capital Investment Advisors LLC Takes $602,000 Position in PotlatchDeltic Co. (NASDAQ:PCH)

Posted by MarketBeat News on Mar 19th, 2023

Capital Investment Advisors LLC acquired a new stake in PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 13,682 shares of the real estate investment trust’s stock, valued at approximately $602,000.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in PotlatchDeltic by 14.5% during the 3rd quarter. Vanguard Group Inc. now owns 11,820,414 shares of the real estate investment trust’s stock valued at $485,110,000 after buying an additional 1,497,553 shares during the last quarter. Pictet Asset Management SA raised its holdings in PotlatchDeltic by 27.9% during the 3rd quarter. Pictet Asset Management SA now owns 3,815,246 shares of the real estate investment trust’s stock valued at $156,578,000 after buying an additional 831,888 shares during the last quarter. Millennium Management LLC raised its holdings in PotlatchDeltic by 835.7% during the 2nd quarter. Millennium Management LLC now owns 690,678 shares of the real estate investment trust’s stock valued at $30,521,000 after buying an additional 616,864 shares during the last quarter. BlackRock Inc. raised its holdings in PotlatchDeltic by 5.9% in the 3rd quarter. BlackRock Inc. now owns 10,044,830 shares of the real estate investment trust’s stock worth $412,238,000 after purchasing an additional 558,321 shares in the last quarter. Finally, State Street Corp raised its holdings in PotlatchDeltic by 19.3% in the 3rd quarter. State Street Corp now owns 2,607,726 shares of the real estate investment trust’s stock worth $107,021,000 after purchasing an additional 421,565 shares in the last quarter. Hedge funds and other institutional investors own 80.36% of the company’s stock.

PotlatchDeltic Stock Down 0.5 %

NASDAQ:PCH opened at $48.99 on Friday. The firm’s 50-day moving average price is $46.94 and its 200-day moving average price is $45.60. The company has a market capitalization of $3.92 billion, a PE ratio of 10.29 and a beta of 1.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.37 and a quick ratio of 2.89. PotlatchDeltic Co. has a 1-year low of $39.10 and a 1-year high of $58.13.

Want More Great Investing Ideas?

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

PotlatchDeltic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 3rd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.67%. This is an increase from PotlatchDeltic’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, March 2nd. PotlatchDeltic’s dividend payout ratio is 37.82%.

Wall Street Analyst Weigh In

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

Insider Activity at PotlatchDeltic

In other news, VP William R. Dereu sold 1,040 shares of the firm’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $47.06, for a total transaction of $48,942.40. Following the sale, the vice president now owns 56,968 shares of the company’s stock, valued at approximately $2,680,914.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Michael J. Covey sold 48,248 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 116,768 shares of the company’s stock, valued at approximately $5,419,202.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP William R. Dereu sold 1,040 shares of the firm’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $47.06, for a total transaction of $48,942.40. Following the sale, the vice president now directly owns 56,968 shares in the company, valued at approximately $2,680,914.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,028 shares of company stock valued at $4,667,676. 2.00% of the stock is owned by insiders.

About PotlatchDeltic

(Get Rating)

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.