Mirae Asset Global Investments Co. Ltd. Sells 2,316 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Mirae Asset Global Investments Co. Ltd. cut its position in PotlatchDeltic Co. (NASDAQ:PCH) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,109 shares of the real estate investment trust’s stock after selling 2,316 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in PotlatchDeltic were worth $1,773,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PCH. Manchester Capital Management LLC grew its stake in shares of PotlatchDeltic by 2,132.0% in the third quarter. Manchester Capital Management LLC now owns 558 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 533 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in shares of PotlatchDeltic in the third quarter valued at $28,000. Fifth Third Bancorp increased its holdings in shares of PotlatchDeltic by 43.8% in the third quarter. Fifth Third Bancorp now owns 1,002 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 305 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of PotlatchDeltic by 490.2% in the first quarter. Steward Partners Investment Advisory LLC now owns 903 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 750 shares during the last quarter. Finally, CENTRAL TRUST Co increased its holdings in shares of PotlatchDeltic by 46.7% in the third quarter. CENTRAL TRUST Co now owns 1,281 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 408 shares during the last quarter. 86.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on PCH shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $48.00 price objective on shares of PotlatchDeltic in a report on Wednesday, January 31st. Truist Financial decreased their price objective on shares of PotlatchDeltic from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.33.

PotlatchDeltic Trading Up 1.1 %

PCH stock opened at $41.19 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.14 and a current ratio of 1.44. The company’s 50-day simple moving average is $45.04 and its 200 day simple moving average is $45.80. PotlatchDeltic Co. has a 52 week low of $40.55 and a 52 week high of $54.44. The company has a market capitalization of $3.28 billion, a PE ratio of 53.49 and a beta of 1.15.

PotlatchDeltic Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 4.37%. PotlatchDeltic’s dividend payout ratio is 233.77%.

Insider Buying and Selling

In related news, CEO Eric J. Cremers sold 17,591 shares of the company’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Wayne Wasechek sold 1,565 shares of the stock in a transaction dated 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 owns 21,247 shares of the company’s stock, valued at $958,877.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric J. Cremers sold 17,591 shares of the stock in a transaction dated 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 quarter. 2.00% of the stock is owned by company insiders.

PotlatchDeltic 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.