PotlatchDeltic Co. (NASDAQ:PCH) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp boosted its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 49.1% in the fourth quarter, Holdings Channel reports. The fund owned 28,300 shares of the real estate investment trust’s stock after purchasing an additional 9,322 shares during the period. Cibc World Markets Corp’s holdings in PotlatchDeltic were worth $1,111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Fifth Third Bancorp grew its position in PotlatchDeltic by 259.7% in the 4th quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 818 shares during the last quarter. Systematic Financial Management LP purchased a new stake in shares of PotlatchDeltic in the third quarter valued at about $166,000. KBC Group NV increased its stake in shares of PotlatchDeltic by 67.3% during the fourth quarter. KBC Group NV now owns 3,685 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 1,483 shares during the period. FMR LLC raised its holdings in PotlatchDeltic by 20.4% during the third quarter. FMR LLC now owns 4,329 shares of the real estate investment trust’s stock worth $195,000 after purchasing an additional 733 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in PotlatchDeltic in the third quarter valued at about $284,000. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

PotlatchDeltic Stock Performance

Shares of PCH opened at $44.52 on Friday. The company has a 50-day moving average of $44.34 and a two-hundred day moving average of $43.16. The stock has a market cap of $3.51 billion, a P/E ratio of 159.00 and a beta of 1.14. PotlatchDeltic Co. has a 12-month low of $37.06 and a 12-month 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.

PotlatchDeltic (NASDAQ:PCH) last announced its earnings results on Monday, January 27th. The real estate investment trust reported $0.07 EPS for the quarter, beating 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, research analysts predict that PotlatchDeltic Co. will post 0.8 EPS for the current fiscal year.

PotlatchDeltic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $0.45 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.80 dividend on an annualized basis and a yield of 4.04%. PotlatchDeltic’s dividend payout ratio (DPR) is 642.86%.

Insiders Place Their Bets

In related news, CFO Wayne Wasechek sold 1,293 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $44.82, for a total transaction of $57,952.26. Following the sale, the chief financial officer now owns 27,701 shares in the company, valued at approximately $1,241,558.82. This trade represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric J. Cremers sold 14,188 shares of PotlatchDeltic stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $44.76, for a total transaction of $635,054.88. Following the completion of the sale, the chief executive officer now directly owns 281,133 shares of the company’s stock, valued at $12,583,513.08. The trade was a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,651 shares of company stock valued at $834,770 in the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

PCH has been the topic of several recent analyst reports. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. DA Davidson set a $54.00 price objective on PotlatchDeltic in a research report on Wednesday, January 29th. Truist Financial reduced their target price on PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating for the company in a report on Monday, January 6th. Citigroup lowered their price target on shares of PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Finally, BMO Capital Markets upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.71.

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.