PotlatchDeltic Co. (NASDAQ:PCH) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in PotlatchDeltic Co. (NASDAQ:PCH) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 158,140 shares of the real estate investment trust’s stock after selling 4,119 shares during the period. California Public Employees Retirement System’s holdings in PotlatchDeltic were worth $7,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PCH. SG Americas Securities LLC acquired a new stake in PotlatchDeltic in the 3rd quarter valued at about $418,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in PotlatchDeltic by 9.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,402 shares of the real estate investment trust’s stock valued at $744,000 after acquiring an additional 1,350 shares during the last quarter. Mackenzie Financial Corp grew its stake in PotlatchDeltic by 78.5% in the 3rd quarter. Mackenzie Financial Corp now owns 9,387 shares of the real estate investment trust’s stock valued at $421,000 after acquiring an additional 4,127 shares during the last quarter. Yorktown Management & Research Co Inc acquired a new stake in PotlatchDeltic in the 3rd quarter valued at about $286,000. Finally, Hennion & Walsh Asset Management Inc. grew its stake in PotlatchDeltic by 109.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 17,058 shares of the real estate investment trust’s stock valued at $774,000 after acquiring an additional 8,915 shares during the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on PCH. Royal Bank of Canada raised shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $45.00 to $46.00 in a research note on Wednesday. Truist Financial decreased their price target on shares of PotlatchDeltic from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.67.

Insider Transactions at PotlatchDeltic

In related news, CEO Eric J. Cremers sold 17,591 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Eric J. Cremers sold 17,591 shares of PotlatchDeltic 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 sale, the chief executive officer now owns 241,111 shares in the company, valued at $10,881,339.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Wayne Wasechek sold 1,565 shares of PotlatchDeltic 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 sale, the chief financial officer now owns 21,247 shares in the company, 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 in the last three months. Company insiders own 2.00% of the company’s stock.

PotlatchDeltic Price Performance

PotlatchDeltic stock opened at $42.00 on Friday. PotlatchDeltic Co. has a 12-month low of $39.86 and a 12-month high of $54.44. The stock has a market capitalization of $3.34 billion, a P/E ratio of 73.69 and a beta of 1.19. The firm’s 50-day moving average is $44.44 and its two-hundred day moving average is $45.53. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 1.14.

PotlatchDeltic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.80 annualized dividend and a dividend yield of 4.29%. PotlatchDeltic’s payout ratio is currently 315.80%.

About PotlatchDeltic

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.