Engineers Gate Manager LP trimmed its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 61.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,605 shares of the real estate investment trust’s stock after selling 15,315 shares during the period. Engineers Gate Manager LP’s holdings in PotlatchDeltic were worth $394,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Profund Advisors LLC raised its position in shares of PotlatchDeltic by 10.8% during the 3rd quarter. Profund Advisors LLC now owns 5,807 shares of the real estate investment trust’s stock worth $238,000 after purchasing an additional 568 shares during the last quarter. Victory Capital Management Inc. raised its holdings in PotlatchDeltic by 20.9% in the 3rd quarter. Victory Capital Management Inc. now owns 49,735 shares of the real estate investment trust’s stock valued at $2,041,000 after acquiring an additional 8,589 shares during the last quarter. Texas Permanent School Fund raised its holdings in PotlatchDeltic by 2.4% in the 2nd quarter. Texas Permanent School Fund now owns 50,141 shares of the real estate investment trust’s stock valued at $2,216,000 after acquiring an additional 1,178 shares during the last quarter. Verition Fund Management LLC acquired a new position in PotlatchDeltic in the 3rd quarter valued at $269,000. Finally, Foundry Partners LLC raised its holdings in PotlatchDeltic by 3.1% in the 3rd quarter. Foundry Partners LLC now owns 115,005 shares of the real estate investment trust’s stock valued at $4,720,000 after acquiring an additional 3,511 shares during the last quarter. 80.36% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
PCH has been the subject of several analyst reports. StockNews.com downgraded PotlatchDeltic from a “hold” rating to a “sell” rating in a report on Tuesday, March 7th. Truist Financial lowered their price objective on shares of PotlatchDeltic from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Wednesday, February 1st. DA Davidson lowered their price objective on shares of PotlatchDeltic from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, January 24th. Finally, Citigroup initiated coverage on shares of PotlatchDeltic in a research note on Wednesday, March 1st. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PotlatchDeltic currently has an average rating of “Moderate Buy” and a consensus target price of $55.40.
PotlatchDeltic Stock Up 0.3 %
PotlatchDeltic (NASDAQ:PCH – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The real estate investment trust reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). The business had revenue of $253.14 million for the quarter, compared to analysts’ expectations of $242.91 million. PotlatchDeltic had a return on equity of 17.02% and a net margin of 25.09%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company posted $0.59 earnings per share. Equities research analysts forecast that PotlatchDeltic Co. will post 1.25 earnings per share for the current fiscal year.
PotlatchDeltic Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 3rd will be given a $0.45 dividend. This is a boost from PotlatchDeltic’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Thursday, March 2nd. PotlatchDeltic’s dividend payout ratio is presently 37.82%.
Insider Buying and Selling at PotlatchDeltic
In other PotlatchDeltic news, VP Michele Tyler sold 4,676 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $48.13, for a total value of $225,055.88. Following the completion of the transaction, the vice president now directly owns 20,662 shares of the company’s stock, valued at approximately $994,462.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP William R. Dereu sold 1,040 shares of the company’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $47.06, for a total value of $48,942.40. Following the sale, the vice president now owns 56,968 shares in the company, valued at approximately $2,680,914.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michele Tyler sold 4,676 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $48.13, for a total transaction of $225,055.88. Following the completion of the sale, the vice president now owns 20,662 shares in the company, valued at approximately $994,462.06. The disclosure for this sale can be found here. Insiders sold a total of 99,028 shares of company stock valued at $4,667,676 in the last ninety days. Insiders own 2.00% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on PotlatchDeltic (PCH)
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