Fisher Asset Management LLC Purchases 76,924 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Fisher Asset Management LLC lifted its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 34.0% in the fourth quarter, HoldingsChannel reports. The fund owned 302,959 shares of the real estate investment trust’s stock after buying an additional 76,924 shares during the period. Fisher Asset Management LLC’s holdings in PotlatchDeltic were worth $11,891,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp grew its stake in shares of PotlatchDeltic by 259.7% during the fourth quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 818 shares during the period. Systematic Financial Management LP acquired a new position in PotlatchDeltic in the third quarter valued at about $166,000. KBC Group NV grew its stake in PotlatchDeltic by 67.3% in the fourth quarter. KBC Group NV now owns 3,685 shares of the real estate investment trust’s stock valued at $145,000 after acquiring an additional 1,483 shares during the period. FMR LLC grew its stake in PotlatchDeltic by 20.4% in the third quarter. FMR LLC now owns 4,329 shares of the real estate investment trust’s stock valued at $195,000 after acquiring an additional 733 shares during the period. Finally, Versor Investments LP acquired a new position in PotlatchDeltic in the third quarter valued at about $257,000. 86.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PotlatchDeltic

In other news, VP Michele Tyler sold 3,170 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,764,025.12. This represents a 7.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric J. Cremers sold 14,188 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $44.76, for a total value 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. The trade was a 4.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,651 shares of company stock worth $834,770 over the last 90 days. Company insiders own 2.00% of the company’s stock.

PotlatchDeltic Stock Performance

PCH opened at $47.34 on Tuesday. PotlatchDeltic Co. has a 52-week low of $37.06 and a 52-week high of $48.12. The firm has a market capitalization of $3.73 billion, a PE ratio of 169.07 and a beta of 1.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.08 and a current ratio of 1.49. The business’s 50-day simple moving average is $42.56 and its 200 day simple moving average is $42.87.

PotlatchDeltic (NASDAQ:PCH) last released its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts expect that PotlatchDeltic Co. will post 0.8 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.80 annualized dividend and a yield of 3.80%. PotlatchDeltic’s dividend payout ratio is 642.86%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Truist Financial decreased their target price on PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Raymond James raised PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Monday, December 23rd. DA Davidson set a $54.00 target price on PotlatchDeltic in a research note on Wednesday, January 29th. BMO Capital Markets raised PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 target price for the company in a research note on Friday, December 6th. Finally, StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.