Sumitomo Mitsui Trust Holdings Inc. Boosts Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,634 shares of the real estate investment trust’s stock after buying an additional 9,370 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.08% of PotlatchDeltic worth $3,272,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its holdings in shares of PotlatchDeltic by 2,132.0% during the third quarter. Manchester Capital Management LLC now owns 558 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 533 shares during the period. Millburn Ridgefield Corp purchased a new stake in shares of PotlatchDeltic during the third quarter worth about $28,000. Fifth Third Bancorp boosted its holdings in shares of PotlatchDeltic by 43.8% during the third quarter. Fifth Third Bancorp now owns 1,002 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 305 shares during the period. Planned Solutions Inc. purchased a new stake in shares of PotlatchDeltic during the fourth quarter worth about $60,000. Finally, VitalStone Financial LLC boosted its holdings in shares of PotlatchDeltic by 109.6% during the third quarter. VitalStone Financial LLC now owns 3,608 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 1,887 shares during the period. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PCH has been the subject of a number of analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $48.00 target price on shares of PotlatchDeltic in a report on Wednesday, January 31st. Truist Financial lowered their price objective on shares of PotlatchDeltic from $51.00 to $49.00 and set a “hold” rating for the company in a report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $51.33.

PotlatchDeltic Stock Performance

Shares of PCH opened at $41.41 on Thursday. PotlatchDeltic Co. has a one year low of $40.55 and a one year high of $54.44. The company has a 50-day simple moving average of $44.84 and a two-hundred day simple moving average of $45.72. The firm has a market capitalization of $3.29 billion, a PE ratio of 53.78 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Thursday, March 7th. PotlatchDeltic’s dividend payout ratio is 233.77%.

Insider Buying and Selling at PotlatchDeltic

In other PotlatchDeltic news, CFO Wayne Wasechek sold 1,565 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $45.13, for a total transaction of $70,628.45. Following the completion of the transaction, the chief financial officer now owns 21,247 shares of the company’s stock, valued at $958,877.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Wayne Wasechek sold 1,565 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $45.13, for a total transaction of $70,628.45. Following the completion of the sale, the chief financial officer now owns 21,247 shares of the company’s stock, valued at $958,877.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric J. Cremers sold 17,591 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $45.13, for a total transaction of $793,881.83. Following the sale, the chief executive officer now directly owns 241,111 shares of the company’s stock, valued at approximately $10,881,339.43. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,124 shares of company stock valued at $1,043,626. Corporate insiders own 1.00% of the company’s stock.

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.