Putnam Investments LLC Sells 797 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Putnam Investments LLC reduced its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,731 shares of the real estate investment trust’s stock after selling 797 shares during the period. Putnam Investments LLC owned 0.05% of PotlatchDeltic worth $1,795,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCH. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of PotlatchDeltic by 13.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,311 shares of the real estate investment trust’s stock valued at $1,335,000 after purchasing an additional 3,064 shares during the last quarter. BlackRock Inc. boosted its holdings in PotlatchDeltic by 3.0% during the first quarter. BlackRock Inc. now owns 8,962,038 shares of the real estate investment trust’s stock valued at $472,566,000 after purchasing an additional 258,490 shares in the last quarter. APG Asset Management N.V. boosted its holdings in PotlatchDeltic by 99.4% during the first quarter. APG Asset Management N.V. now owns 32,500 shares of the real estate investment trust’s stock valued at $1,540,000 after purchasing an additional 16,200 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of PotlatchDeltic by 11.4% in the first quarter. Great West Life Assurance Co. Can now owns 39,159 shares of the real estate investment trust’s stock valued at $2,120,000 after acquiring an additional 4,003 shares during the last quarter. Finally, Yousif Capital Management LLC raised its position in PotlatchDeltic by 7.3% in the 1st quarter. Yousif Capital Management LLC now owns 37,230 shares of the real estate investment trust’s stock worth $1,963,000 after purchasing an additional 2,546 shares during the last quarter. 80.36% of the stock is owned by institutional investors and hedge funds.

PotlatchDeltic Trading Down 0.3 %

NASDAQ:PCH opened at $47.69 on Monday. The company has a quick ratio of 2.89, a current ratio of 3.37 and a debt-to-equity ratio of 0.44. PotlatchDeltic Co. has a 52 week low of $39.10 and a 52 week high of $58.13. The firm has a market capitalization of $3.81 billion, a P/E ratio of 10.02 and a beta of 1.17. The company has a fifty day moving average of $46.48 and a 200 day moving average of $45.52.

PotlatchDeltic (NASDAQ:PCH – Get Rating) last issued its quarterly earnings results on Tuesday, January 31st. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.07). PotlatchDeltic had a return on equity of 17.02% and a net margin of 25.09%. The business had revenue of $253.14 million during the quarter, compared to the consensus estimate of $242.91 million. During the same quarter in the previous year, the business earned $0.59 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts predict that PotlatchDeltic Co. will post 1.25 earnings per share for the current year.

PotlatchDeltic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 3rd will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.77%. This is an increase from PotlatchDeltic’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, March 2nd. PotlatchDeltic’s dividend payout ratio is 37.82%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCH. Citigroup started coverage on shares of PotlatchDeltic in a research report on Wednesday, March 1st. They issued a “buy” rating for the company. Truist Financial lowered their price target on shares of PotlatchDeltic from $48.00 to $47.00 and set a “hold” rating on the stock in a report on Wednesday, February 1st. DA Davidson reduced their price target on shares of PotlatchDeltic from $57.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, January 24th. Finally, StockNews.com downgraded shares of PotlatchDeltic from a “hold” rating to a “sell” rating in a research note on Tuesday, March 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.40.

Insider Activity at PotlatchDeltic

In related news, VP William R. Dereu sold 1,040 shares of the stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $47.06, for a total transaction of $48,942.40. Following the sale, the vice president now directly owns 56,968 shares of the company’s stock, valued at approximately $2,680,914.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP William R. Dereu sold 1,040 shares of the firm’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $47.06, for a total transaction of $48,942.40. Following the sale, the vice president now owns 56,968 shares of the company’s stock, valued at approximately $2,680,914.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Covey sold 48,248 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $46.41, for a total transaction of $2,239,189.68. Following the sale, the director now directly owns 116,768 shares in the company, valued at approximately $5,419,202.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,028 shares of company stock valued at $4,667,676. 2.00% of the stock is owned by insiders.

About PotlatchDeltic

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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.