Kennedy Capital Management LLC Reduces Stock Holdings in PotlatchDeltic Co. (NASDAQ:PCH)

Kennedy Capital Management LLC trimmed its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 14.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 132,262 shares of the real estate investment trust’s stock after selling 21,997 shares during the period. Kennedy Capital Management LLC owned 0.17% of PotlatchDeltic worth $5,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of PotlatchDeltic in the fourth quarter worth about $2,128,000. Legal & General Group Plc boosted its holdings in PotlatchDeltic by 4.0% in the 4th quarter. Legal & General Group Plc now owns 2,498,762 shares of the real estate investment trust’s stock worth $98,076,000 after buying an additional 95,485 shares during the period. Envestnet Asset Management Inc. grew its stake in PotlatchDeltic by 41.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 33,548 shares of the real estate investment trust’s stock valued at $1,317,000 after buying an additional 9,759 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of PotlatchDeltic by 29.6% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 348,323 shares of the real estate investment trust’s stock worth $13,672,000 after acquiring an additional 79,500 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of PotlatchDeltic by 5.2% during the fourth quarter. Wells Fargo & Company MN now owns 267,277 shares of the real estate investment trust’s stock worth $10,491,000 after acquiring an additional 13,142 shares in the last quarter. 86.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Truist Financial decreased their price objective on PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. DA Davidson set a $54.00 price target on PotlatchDeltic in a research report on Wednesday, January 29th. StockNews.com upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Citigroup decreased their target price on shares of PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Finally, Raymond James raised shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Monday, December 23rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PotlatchDeltic presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.71.

Insiders Place Their Bets

In other news, VP Michele Tyler sold 3,170 shares of PotlatchDeltic stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $44.72, for a total value of $141,762.40. Following the transaction, the vice president now owns 39,446 shares in the company, valued at approximately $1,764,025.12. The trade was a 7.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Wayne Wasechek sold 1,293 shares of the 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 sale, the chief financial officer now owns 27,701 shares of the company’s stock, valued at $1,241,558.82. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,651 shares of company stock valued at $834,770. 2.00% of the stock is currently owned by corporate insiders.

PotlatchDeltic Stock Performance

PotlatchDeltic stock opened at $38.95 on Friday. PotlatchDeltic Co. has a fifty-two week low of $36.82 and a fifty-two week high of $48.12. The firm’s fifty day moving average price is $44.22 and its 200-day moving average price is $42.91. The stock has a market cap of $3.07 billion, a P/E ratio of 139.11 and a beta of 1.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.08 and a current ratio of 1.49.

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

PotlatchDeltic Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend was Friday, March 7th. PotlatchDeltic’s payout ratio is currently 642.86%.

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.