Louisiana State Employees Retirement System Makes New $1.10 Million Investment in PotlatchDeltic Co. (NASDAQ:PCH)

Louisiana State Employees Retirement System acquired a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 22,300 shares of the real estate investment trust’s stock, valued at approximately $1,095,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCH. M&T Bank Corp boosted its stake in shares of PotlatchDeltic by 1.2% during the 3rd quarter. M&T Bank Corp now owns 57,353 shares of the real estate investment trust’s stock valued at $2,603,000 after buying an additional 658 shares during the period. Planned Solutions Inc. acquired a new stake in shares of PotlatchDeltic during the 4th quarter valued at $60,000. Victory Capital Management Inc. boosted its stake in shares of PotlatchDeltic by 16.8% during the 3rd quarter. Victory Capital Management Inc. now owns 151,074 shares of the real estate investment trust’s stock valued at $6,857,000 after buying an additional 21,696 shares during the period. Mackenzie Financial Corp boosted its stake in shares of PotlatchDeltic by 78.5% during the 3rd quarter. Mackenzie Financial Corp now owns 9,387 shares of the real estate investment trust’s stock valued at $421,000 after buying an additional 4,127 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of PotlatchDeltic by 109.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 17,058 shares of the real estate investment trust’s stock valued at $774,000 after buying an additional 8,915 shares during the period. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $48.00 price objective on shares of PotlatchDeltic in a research note on Wednesday, January 31st. Truist Financial reduced their price objective on shares of PotlatchDeltic from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, PotlatchDeltic presently has a consensus rating of “Hold” and an average price target of $51.33.

PotlatchDeltic Stock Up 0.2 %

PotlatchDeltic stock opened at $41.45 on Wednesday. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 53.83 and a beta of 1.15. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.44 and a quick ratio of 1.14. PotlatchDeltic Co. has a fifty-two week low of $40.55 and a fifty-two week high of $54.44. The firm has a fifty day moving average price of $44.91 and a two-hundred day moving average price of $45.75.

PotlatchDeltic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Thursday, March 7th. PotlatchDeltic’s dividend payout ratio is 233.77%.

Insiders Place Their Bets

In other PotlatchDeltic news, VP Michele Tyler sold 3,968 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.14, for a total transaction of $179,115.52. Following the completion of the transaction, the vice president now owns 31,864 shares of the company’s stock, valued at approximately $1,438,340.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Michele Tyler sold 3,968 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $45.14, for a total transaction of $179,115.52. Following the completion of the transaction, the vice president now owns 31,864 shares of the company’s stock, valued at $1,438,340.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Wayne Wasechek sold 1,565 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $45.13, for a total transaction of $70,628.45. Following the transaction, the chief financial officer now directly owns 21,247 shares of the company’s stock, valued at approximately $958,877.11. The disclosure for this sale can be found here. Insiders sold a total of 23,124 shares of company stock valued at $1,043,626 in the last quarter. Insiders own 2.00% of the company’s stock.

About PotlatchDeltic

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.