Allspring Global Investments Holdings LLC Sells 17,845 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Allspring Global Investments Holdings LLC decreased its stake in PotlatchDeltic Co. (NASDAQ:PCH) by 14.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 106,035 shares of the real estate investment trust’s stock after selling 17,845 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PotlatchDeltic were worth $5,206,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PCH. M&T Bank Corp raised its holdings in shares of PotlatchDeltic by 1.2% during the 3rd quarter. M&T Bank Corp now owns 57,353 shares of the real estate investment trust’s stock valued at $2,603,000 after buying an additional 658 shares in the last quarter. Planned Solutions Inc. purchased a new position in shares of PotlatchDeltic during the fourth quarter worth approximately $60,000. Victory Capital Management Inc. lifted its holdings in shares of PotlatchDeltic by 16.8% in the 3rd quarter. Victory Capital Management Inc. now owns 151,074 shares of the real estate investment trust’s stock worth $6,857,000 after acquiring an additional 21,696 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of PotlatchDeltic by 78.5% in 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 in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of 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. Institutional investors own 86.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PCH. Royal Bank of Canada reissued a “sector perform” rating and issued a $48.00 price target on shares of PotlatchDeltic in a research note on Wednesday, January 31st. Truist Financial dropped their target price on PotlatchDeltic from $51.00 to $49.00 and set a “hold” rating for the company in a report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $51.33.

PotlatchDeltic Stock Performance

Shares of NASDAQ:PCH opened at $40.75 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.14 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $45.12 and a 200-day moving average price of $45.82. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 52.92 and a beta of 1.15. PotlatchDeltic Co. has a 12 month low of $40.65 and a 12 month high of $54.44.

PotlatchDeltic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.42%. PotlatchDeltic’s dividend payout ratio is presently 233.77%.

Insider Activity at PotlatchDeltic

In other PotlatchDeltic news, CFO Wayne Wasechek sold 1,565 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.13, for a total value of $70,628.45. Following the completion of the transaction, the chief financial officer now directly owns 21,247 shares in the company, valued at approximately $958,877.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Eric J. Cremers sold 17,591 shares of PotlatchDeltic stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 241,111 shares in the company, valued at $10,881,339.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Wayne Wasechek sold 1,565 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $45.13, for a total value 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 approximately $958,877.11. The disclosure for this sale can be found here. Insiders have sold a total of 23,124 shares of company stock worth $1,043,626 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

About PotlatchDeltic

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.