Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,254 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in PotlatchDeltic Co. (NASDAQ:PCH) by 13.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,656 shares of the real estate investment trust’s stock after purchasing an additional 2,254 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PotlatchDeltic were worth $916,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PCH. Manchester Capital Management LLC boosted its stake in PotlatchDeltic by 2,132.0% during 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 during the period. Millburn Ridgefield Corp purchased a new stake in PotlatchDeltic in the third quarter valued at approximately $28,000. Fifth Third Bancorp grew its stake 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 buying an additional 305 shares in the last quarter. Planned Solutions Inc. bought a new position in shares of PotlatchDeltic in the 4th quarter worth $60,000. Finally, VitalStone Financial LLC lifted its holdings in shares of PotlatchDeltic by 109.6% during the 3rd quarter. VitalStone Financial LLC now owns 3,608 shares of the real estate investment trust’s stock worth $163,000 after acquiring an additional 1,887 shares during the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Stock Performance

PotlatchDeltic stock opened at $41.05 on Monday. The firm has a 50-day moving average of $44.70 and a 200-day moving average of $45.66. The firm has a market cap of $3.26 billion, a P/E ratio of 53.31 and a beta of 1.15. 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 1-year low of $40.47 and a 1-year high of $54.44.

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date was Thursday, March 7th. PotlatchDeltic’s payout ratio is 233.77%.

Insider Activity at PotlatchDeltic

In other news, CFO Wayne Wasechek sold 1,565 shares of PotlatchDeltic stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $45.13, for a total transaction of $70,628.45. Following the sale, the chief financial officer now owns 21,247 shares of the company’s stock, valued at approximately $958,877.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Eric J. Cremers sold 17,591 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 $793,881.83. Following the completion of 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Wayne Wasechek sold 1,565 shares of the firm’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 $70,628.45. Following the transaction, the chief financial officer now directly 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.

Analyst Upgrades and Downgrades

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

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.