Invesco Ltd. Sells 887,432 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Invesco Ltd. trimmed its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 79.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,587 shares of the real estate investment trust’s stock after selling 887,432 shares during the quarter. Invesco Ltd. owned about 0.29% of PotlatchDeltic worth $8,854,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PCH. Barclays PLC boosted its stake in shares of PotlatchDeltic by 147.7% in the third quarter. Barclays PLC now owns 163,784 shares of the real estate investment trust’s stock valued at $7,378,000 after buying an additional 97,655 shares during the period. JPMorgan Chase & Co. raised its position in shares of PotlatchDeltic by 22.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 900,447 shares of the real estate investment trust’s stock valued at $40,565,000 after buying an additional 163,774 shares in the last quarter. Empirical Asset Management LLC bought a new stake in shares of PotlatchDeltic during the 4th quarter worth approximately $1,773,000. Procyon Advisors LLC increased its stake in PotlatchDeltic by 37.3% in the fourth quarter. Procyon Advisors LLC now owns 9,241 shares of the real estate investment trust’s stock valued at $363,000 after acquiring an additional 2,511 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in PotlatchDeltic by 259.7% during the fourth quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 818 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Eric J. Cremers sold 14,188 shares of PotlatchDeltic stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $44.76, for a total transaction of $635,054.88. Following the completion of the transaction, the chief executive officer now directly owns 281,133 shares in the company, valued at $12,583,513.08. This trade represents a 4.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Wayne Wasechek sold 1,293 shares of PotlatchDeltic stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $44.82, for a total value of $57,952.26. Following the transaction, the chief financial officer now owns 27,701 shares of the company’s stock, valued at $1,241,558.82. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,651 shares of company stock worth $834,770. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PCH shares. Truist Financial reduced their target price on PotlatchDeltic from $44.00 to $42.00 and set a “hold” rating on the stock in a report on Tuesday. Citigroup lowered their price objective on shares of PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Finally, DA Davidson set a $54.00 target price on PotlatchDeltic in a report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PotlatchDeltic has an average rating of “Moderate Buy” and an average target price of $48.43.

PotlatchDeltic Stock Performance

Shares of PotlatchDeltic stock opened at $39.02 on Thursday. The business has a 50-day moving average price of $43.36 and a two-hundred day moving average price of $42.62. PotlatchDeltic Co. has a 1-year low of $36.82 and a 1-year high of $48.12. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46. The company has a market cap of $3.07 billion, a P/E ratio of 139.36 and a beta of 1.12.

PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, January 27th. The real estate investment trust reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. PotlatchDeltic had a return on equity of 1.05% and a net margin of 2.06%. As a group, analysts anticipate that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.61%. The ex-dividend date was Friday, March 7th. PotlatchDeltic’s dividend payout ratio is presently 642.86%.

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.