California Public Employees Retirement System Decreases Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

California Public Employees Retirement System trimmed its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 158,140 shares of the real estate investment trust’s stock after selling 4,119 shares during the quarter. California Public Employees Retirement System owned 0.20% of PotlatchDeltic worth $7,765,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PCH. SG Americas Securities LLC bought a new position in PotlatchDeltic during the 3rd quarter valued at about $418,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in PotlatchDeltic by 9.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,402 shares of the real estate investment trust’s stock valued at $744,000 after purchasing an additional 1,350 shares during the last quarter. Mackenzie Financial Corp grew its holdings in 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 purchasing an additional 4,127 shares during the last quarter. Yorktown Management & Research Co Inc bought a new position in PotlatchDeltic during the 3rd quarter valued at about $286,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in 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 purchasing an additional 8,915 shares during the last quarter. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PCH. Royal Bank of Canada upgraded shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $45.00 to $46.00 in a report on Wednesday. Truist Financial dropped their target price on shares of PotlatchDeltic from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $50.67.

Insider Activity at PotlatchDeltic

In related news, CEO Eric J. Cremers sold 17,591 shares of the 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 completion of the sale, the chief executive officer now owns 241,111 shares of the company’s stock, valued at $10,881,339.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PotlatchDeltic news, VP Michele Tyler sold 3,968 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.14, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eric J. Cremers sold 17,591 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $45.13, for a total transaction of $793,881.83. Following the completion of the transaction, 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. Insiders sold 23,124 shares of company stock valued at $1,043,626 over the last 90 days. Insiders own 2.00% of the company’s stock.

PotlatchDeltic Trading Up 1.4 %

NASDAQ:PCH opened at $42.00 on Friday. PotlatchDeltic Co. has a 52 week low of $39.86 and a 52 week high of $54.44. The firm has a 50 day moving average of $44.44 and a 200 day moving average of $45.53. The company has a quick ratio of 1.14, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 73.69 and a beta of 1.19.

PotlatchDeltic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.80 dividend on an annualized basis and a yield of 4.29%. PotlatchDeltic’s payout ratio is 315.80%.

PotlatchDeltic Company 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.