Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 55.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,379 shares of the real estate investment trust’s stock after buying an additional 4,752 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PotlatchDeltic were worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently modified their holdings of PCH. Accel Wealth Management purchased a new position in shares of PotlatchDeltic during the third quarter valued at about $27,000. Wipfli Financial Advisors LLC purchased a new stake in PotlatchDeltic in the third quarter worth about $43,000. Signaturefd LLC grew its holdings in PotlatchDeltic by 166.4% in the third quarter. Signaturefd LLC now owns 1,124 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 702 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in PotlatchDeltic in the second quarter worth about $58,000. Finally, Parallel Advisors LLC grew its holdings in PotlatchDeltic by 144.1% in the second quarter. Parallel Advisors LLC now owns 1,662 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 981 shares during the period. Hedge funds and other institutional investors own 80.36% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have weighed in on PCH. Truist Financial cut their price objective on shares of PotlatchDeltic from $48.00 to $47.00 and set a “hold” rating on the stock in a report on Wednesday, February 1st. DA Davidson cut their price objective on shares of PotlatchDeltic from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, January 24th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.40.
Insider Activity at PotlatchDeltic
In related news, CEO Eric J. Cremers sold 8,535 shares of the stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $48.00, for a total transaction of $409,680.00. Following the transaction, the chief executive officer now owns 199,129 shares in the company, valued at $9,558,192. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other PotlatchDeltic news, VP Michele Tyler sold 4,676 shares of the stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $48.13, for a total value of $225,055.88. Following the transaction, the vice president now directly owns 20,662 shares in the company, valued at $994,462.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric J. Cremers sold 8,535 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $48.00, for a total transaction of $409,680.00. Following the completion of the transaction, the chief executive officer now owns 199,129 shares in the company, valued at $9,558,192. The disclosure for this sale can be found here. Insiders have sold a total of 40,827 shares of company stock worth $1,960,233 over the last quarter. Company insiders own 2.00% of the company’s stock.
PotlatchDeltic Trading Down 0.8 %
NASDAQ:PCH opened at $47.22 on Friday. The company’s 50 day moving average price is $46.04 and its 200-day moving average price is $45.69. PotlatchDeltic Co. has a 52 week low of $39.10 and a 52 week high of $58.13. The company has a quick ratio of 2.89, a current ratio of 3.37 and a debt-to-equity ratio of 0.44. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 9.92 and a beta of 1.16.
PotlatchDeltic (NASDAQ:PCH – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The real estate investment trust reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). PotlatchDeltic had a net margin of 25.09% and a return on equity of 17.02%. The firm had revenue of $253.14 million for the quarter, compared to analysts’ expectations of $242.91 million. During the same quarter in the previous year, the company earned $0.59 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts forecast that PotlatchDeltic Co. will post 1.35 earnings per share for the current fiscal year.
PotlatchDeltic Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 3rd will be given a dividend of $0.45 per share. This is an increase from PotlatchDeltic’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, March 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 3.81%. PotlatchDeltic’s dividend payout ratio is 37.82%.
PotlatchDeltic Company Profile
PotlatchDeltic Corp. operates as a real estate investment trust. The firm engages in the ownership and management of acres of timberlands. It operates through the following segments: Timberlands, Wood Products and Real Estate. The Timberland segment sells delivered logs, pulpwood, sawlogs, and stumpage.
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