First Trust Advisors LP Cuts Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

First Trust Advisors LP trimmed its stake in PotlatchDeltic Co. (NASDAQ:PCH) by 52.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,029 shares of the real estate investment trust’s stock after selling 16,889 shares during the period. First Trust Advisors LP’s holdings in PotlatchDeltic were worth $590,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in PotlatchDeltic in the 4th quarter worth approximately $217,145,000. Legal & General Group Plc raised its stake in shares of PotlatchDeltic by 4.0% during the fourth quarter. Legal & General Group Plc now owns 2,498,762 shares of the real estate investment trust’s stock worth $98,076,000 after acquiring an additional 95,485 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of PotlatchDeltic by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,542,771 shares of the real estate investment trust’s stock worth $60,554,000 after acquiring an additional 70,745 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of PotlatchDeltic by 27.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,145,473 shares of the real estate investment trust’s stock valued at $44,960,000 after purchasing an additional 245,026 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of PotlatchDeltic by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 1,061,497 shares of the real estate investment trust’s stock valued at $41,664,000 after purchasing an additional 23,975 shares during the last quarter. 86.06% of the stock is owned by hedge funds and other institutional investors.

PotlatchDeltic Stock Up 0.1 %

Shares of NASDAQ:PCH opened at $38.20 on Friday. PotlatchDeltic Co. has a 1 year low of $36.82 and a 1 year high of $48.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.08. The stock’s 50-day moving average is $41.64 and its 200 day moving average is $42.23. The company has a market cap of $3.01 billion, a PE ratio of 136.43 and a beta of 1.16.

PotlatchDeltic (NASDAQ:PCH) last announced its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.13. The company had revenue of $268.26 million during the quarter, compared to the consensus estimate of $243.68 million. PotlatchDeltic had a return on equity of 1.05% and a net margin of 2.06%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. Sell-side analysts anticipate that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend is Friday, June 6th. PotlatchDeltic’s payout ratio is 295.08%.

Insider Activity at PotlatchDeltic

In other news, VP Michele Tyler sold 3,170 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $44.72, for a total transaction of $141,762.40. Following the sale, the vice president now owns 39,446 shares in the company, valued at approximately $1,764,025.12. The trade was a 7.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric J. Cremers sold 14,188 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $44.76, for a total transaction of $635,054.88. Following the completion of the sale, the chief executive officer now directly owns 281,133 shares in the company, valued at $12,583,513.08. This represents a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,651 shares of company stock worth $834,770 over the last 90 days. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on PCH. Truist Financial lowered their price target on shares of PotlatchDeltic from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. Citigroup lowered their target price on PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. DA Davidson set a $54.00 price target on PotlatchDeltic in a research report on Wednesday, January 29th. Finally, StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.43.

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.