Raymond James Financial Services Advisors Inc. trimmed its position in shares of PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 29.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,587 shares of the real estate investment trust’s stock after selling 27,743 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in PotlatchDeltic were worth $2,929,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Kistler Tiffany Companies LLC bought a new position in PotlatchDeltic during the 4th quarter worth approximately $30,000. Fifth Third Bancorp grew its position in PotlatchDeltic by 50.2% during the 4th quarter. Fifth Third Bancorp now owns 706 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 236 shares during the last quarter. Quadrant Capital Group LLC grew its position in PotlatchDeltic by 289.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 877 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 652 shares during the last quarter. Ronald Blue Trust Inc. grew its position in PotlatchDeltic by 219.4% during the 4th quarter. Ronald Blue Trust Inc. now owns 990 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 680 shares during the last quarter. Finally, Signaturefd LLC grew its position in PotlatchDeltic by 166.4% during the 3rd quarter. Signaturefd LLC now owns 1,124 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 702 shares during the last quarter. 80.36% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at PotlatchDeltic
In other PotlatchDeltic news, Director Michael J. Covey sold 48,248 shares of PotlatchDeltic stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $46.41, for a total transaction of $2,239,189.68. Following the completion of the transaction, the director now owns 116,768 shares in the company, valued at $5,419,202.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by company insiders.
PotlatchDeltic Trading Down 1.1 %
PotlatchDeltic (NASDAQ:PCH – Get Rating) last announced its quarterly earnings data on Monday, April 24th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.11. The business had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $243.34 million. PotlatchDeltic had a return on equity of 8.87% and a net margin of 15.82%. The firm’s quarterly revenue was down 37.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.50 earnings per share. Research analysts forecast that PotlatchDeltic Co. will post 0.93 earnings per share for the current fiscal year.
PotlatchDeltic Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 2nd will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Thursday, June 1st. PotlatchDeltic’s payout ratio is 68.97%.
Analyst Upgrades and Downgrades
PCH has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on PotlatchDeltic in a research report on Thursday. They issued a “sell” rating on the stock. Truist Financial cut their price objective on PotlatchDeltic from $48.00 to $47.00 and set a “hold” rating on the stock in a research report on Wednesday, February 1st. DA Davidson cut their price objective on PotlatchDeltic from $57.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, January 24th. Finally, Citigroup began coverage on PotlatchDeltic in a research report on Wednesday, March 1st. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.40.
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.
- Get a free copy of the StockNews.com research report on PotlatchDeltic (PCH)
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