Strs Ohio Reduces Stake in PotlatchDeltic Co. (NASDAQ:PCH)

Strs Ohio reduced its position in PotlatchDeltic Co. (NASDAQ:PCH) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,100 shares of the real estate investment trust’s stock after selling 500 shares during the period. Strs Ohio’s holdings in PotlatchDeltic were worth $790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PCH. Manchester Capital Management LLC raised its holdings in PotlatchDeltic by 2,132.0% in the 3rd quarter. Manchester Capital Management LLC now owns 558 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 533 shares during the period. Millburn Ridgefield Corp bought a new position in PotlatchDeltic in the 3rd quarter worth $28,000. Fifth Third Bancorp raised its holdings in PotlatchDeltic by 43.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,002 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 305 shares during the period. Planned Solutions Inc. bought a new position in PotlatchDeltic in the 4th quarter worth $60,000. Finally, VitalStone Financial LLC raised its holdings in PotlatchDeltic by 109.6% in the 3rd quarter. VitalStone Financial LLC now owns 3,608 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 1,887 shares during the period. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Eric J. Cremers sold 17,591 shares of the firm’s 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 owns 241,111 shares in the company, valued at $10,881,339.43. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Michele Tyler sold 3,968 shares of PotlatchDeltic stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $45.14, for a total value of $179,115.52. Following the completion of the transaction, the vice president now owns 31,864 shares in the company, valued at $1,438,340.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric J. Cremers sold 17,591 shares of PotlatchDeltic stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $45.13, for a total value of $793,881.83. Following the completion of the transaction, the chief executive officer now 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 a total of 23,124 shares of company stock worth $1,043,626 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

PotlatchDeltic Price Performance

NASDAQ:PCH opened at $41.41 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.44 and a debt-to-equity ratio of 0.40. The business’s 50-day simple moving average is $44.84 and its two-hundred day simple moving average is $45.72. The stock has a market cap of $3.29 billion, a PE ratio of 53.78 and a beta of 1.15. PotlatchDeltic Co. has a 52 week low of $40.55 and a 52 week high of $54.44.

PotlatchDeltic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.35%. PotlatchDeltic’s payout ratio is 233.77%.

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.