Sumitomo Mitsui Trust Holdings Inc. Purchases 9,370 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 16.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,634 shares of the real estate investment trust’s stock after purchasing an additional 9,370 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in PotlatchDeltic were worth $3,272,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PCH. Manchester Capital Management LLC boosted its position 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 valued at $25,000 after buying an additional 533 shares during the period. Millburn Ridgefield Corp purchased a new stake in PotlatchDeltic in the 3rd quarter valued at about $28,000. Fifth Third Bancorp boosted its position 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 valued at $45,000 after buying an additional 305 shares during the period. Planned Solutions Inc. purchased a new stake in PotlatchDeltic in the 4th quarter valued at about $60,000. Finally, VitalStone Financial LLC boosted its position 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 valued at $163,000 after buying an additional 1,887 shares during the period. 86.06% of the stock is currently owned by institutional investors.

PotlatchDeltic Price Performance

Shares of PCH opened at $41.41 on Thursday. The company has a 50 day moving average price of $44.84 and a 200-day moving average price of $45.72. PotlatchDeltic Co. has a fifty-two week low of $40.55 and a fifty-two week high of $54.44. The stock has a market capitalization of $3.29 billion, a PE ratio of 53.78 and a beta of 1.15. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.14 and a current ratio of 1.44.

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.80 annualized dividend and a dividend yield of 4.35%. PotlatchDeltic’s payout ratio is presently 233.77%.

Insider Activity at PotlatchDeltic

In related news, CEO Eric J. Cremers sold 17,591 shares of the stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Michele Tyler sold 3,968 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $45.14, for a total transaction of $179,115.52. Following the completion of the sale, the vice president now owns 31,864 shares of the company’s stock, valued at $1,438,340.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric J. Cremers sold 17,591 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $45.13, for a total transaction of $793,881.83. Following the transaction, the chief executive officer now owns 241,111 shares in the company, 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 90 days. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

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

PotlatchDeltic Company 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.