PotlatchDeltic Co. (NASDAQ:PCH) Stake Cut by M&T Bank Corp

M&T Bank Corp reduced its holdings in PotlatchDeltic Co. (NASDAQ:PCH) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,544 shares of the real estate investment trust’s stock after selling 3,257 shares during the period. M&T Bank Corp’s holdings in PotlatchDeltic were worth $2,101,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its stake 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 worth $44,000 after acquiring an additional 818 shares in the last quarter. Systematic Financial Management LP purchased a new stake in shares of PotlatchDeltic during the 3rd quarter worth about $166,000. KBC Group NV raised its stake in shares of PotlatchDeltic by 67.3% during the 4th quarter. KBC Group NV now owns 3,685 shares of the real estate investment trust’s stock worth $145,000 after purchasing an additional 1,483 shares in the last quarter. FMR LLC raised its stake in shares of PotlatchDeltic by 20.4% during the 3rd 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, Versor Investments LP purchased a new stake in shares of PotlatchDeltic during the 3rd quarter worth about $257,000. 86.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

PotlatchDeltic Stock Up 0.1 %

Shares of PCH stock opened at $46.28 on Monday. The stock’s 50 day simple moving average is $43.15 and its 200 day simple moving average is $43.02. 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 Co. has a twelve month low of $37.06 and a twelve month high of $48.12. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 165.29 and a beta of 1.14.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.07 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%. As a group, research analysts predict that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Friday, March 7th. PotlatchDeltic’s dividend payout ratio is currently 642.86%.

Insiders Place Their Bets

In other news, CEO Eric J. Cremers sold 14,188 shares of the business’s 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 sale, the chief executive officer now directly owns 281,133 shares in the company, valued at approximately $12,583,513.08. The trade was a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michele Tyler sold 3,170 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $44.72, for a total value of $141,762.40. Following the sale, the vice president now owns 39,446 shares in the company, valued at approximately $1,764,025.12. This represents a 7.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,651 shares of company stock valued at $834,770 in the last three months. Company insiders own 2.00% of the company’s stock.

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.