Jennison Associates LLC Trims Stock Position in PotlatchDeltic Co. (NASDAQ:PCH)

Jennison Associates LLC lowered its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 15.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,296 shares of the real estate investment trust’s stock after selling 2,494 shares during the period. Jennison Associates LLC’s holdings in PotlatchDeltic were worth $653,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of PotlatchDeltic by 21.2% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 759,426 shares of the real estate investment trust’s stock valued at $34,470,000 after acquiring an additional 133,066 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of PotlatchDeltic by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,310,548 shares of the real estate investment trust’s stock valued at $59,486,000 after acquiring an additional 43,924 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of PotlatchDeltic during the 4th quarter valued at about $1,095,000. Victory Capital Management Inc. grew its position in shares of PotlatchDeltic by 16.8% during the 3rd quarter. Victory Capital Management Inc. now owns 151,074 shares of the real estate investment trust’s stock valued at $6,857,000 after acquiring an additional 21,696 shares during the period. Finally, Private Client Services LLC acquired a new stake in shares of PotlatchDeltic during the 4th quarter valued at about $671,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PCH. Royal Bank of Canada restated a “sector perform” rating and set a $48.00 target price on shares of PotlatchDeltic in a research report on Wednesday, January 31st. Truist Financial dropped their target price on PotlatchDeltic from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.33.

PotlatchDeltic Trading Up 0.0 %

PCH stock opened at $41.05 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. PotlatchDeltic Co. has a 12-month low of $40.47 and a 12-month high of $54.44. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 53.31 and a beta of 1.15. The business’s 50-day moving average is $44.70 and its 200 day moving average is $45.66.

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 issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.38%. The ex-dividend date was Thursday, March 7th. PotlatchDeltic’s payout ratio is 233.77%.

Insider Buying and Selling

In other news, CEO Eric J. Cremers sold 17,591 shares of the business’s 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 transaction, the chief executive officer now directly owns 241,111 shares in the company, valued at approximately $10,881,339.43. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Michele Tyler sold 3,968 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $45.14, for a total transaction of $179,115.52. Following the transaction, the vice president now directly owns 31,864 shares in the company, valued at approximately $1,438,340.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Eric J. Cremers sold 17,591 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $45.13, for a total value of $793,881.83. Following the transaction, the chief executive officer now owns 241,111 shares in the company, valued at $10,881,339.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,124 shares of company stock worth $1,043,626. Insiders own 2.00% of the company’s stock.

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.