PotlatchDeltic Co. (NASDAQ:PCH) Shares Sold by AlphaQuest LLC

AlphaQuest LLC trimmed its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 56.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,106 shares of the real estate investment trust’s stock after selling 11,891 shares during the period. AlphaQuest LLC’s holdings in PotlatchDeltic were worth $357,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. TCW Group Inc. purchased a new position in PotlatchDeltic in the third quarter worth $1,923,000. Quest Partners LLC increased its holdings in shares of PotlatchDeltic by 872.1% in the 3rd quarter. Quest Partners LLC now owns 20,997 shares of the real estate investment trust’s stock valued at $946,000 after purchasing an additional 18,837 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of PotlatchDeltic in the third quarter valued at about $781,000. Allspring Global Investments Holdings LLC boosted its holdings in PotlatchDeltic by 4.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 162,135 shares of the real estate investment trust’s stock worth $6,364,000 after buying an additional 7,567 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in PotlatchDeltic during the third quarter worth about $2,071,000. 86.06% of the stock is owned by institutional investors and hedge funds.

PotlatchDeltic Stock Up 2.3 %

PCH opened at $45.01 on Friday. The firm has a market cap of $3.55 billion, a P/E ratio of 160.75 and a beta of 1.14. The business’s fifty day simple moving average is $43.71 and its 200 day simple moving average is $43.08. PotlatchDeltic Co. has a 52 week low of $37.06 and a 52 week high of $48.12. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 0.46.

PotlatchDeltic (NASDAQ:PCH) last released 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 net margin of 2.06% and a return on equity of 1.05%. As a group, equities research analysts anticipate that PotlatchDeltic Co. will post 0.8 EPS for the current fiscal 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 issued a $0.45 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.80 annualized dividend and a yield of 4.00%. PotlatchDeltic’s dividend payout ratio (DPR) is presently 642.86%.

Wall Street Analysts Forecast Growth

PCH has been the subject of a number of research reports. BMO Capital Markets upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price target for the company in a research report on Friday, December 6th. Citigroup reduced their price objective on PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Raymond James raised PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Monday, December 23rd. DA Davidson set a $54.00 price target on PotlatchDeltic in a research note on Wednesday, January 29th. Finally, Truist Financial lowered their price objective on shares of PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Two equities research 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.71.

Insiders Place Their Bets

In related news, 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 transaction of $635,054.88. Following the completion of the transaction, the chief executive officer now owns 281,133 shares of the company’s stock, valued at approximately $12,583,513.08. This represents a 4.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michele Tyler sold 3,170 shares of PotlatchDeltic stock in a transaction on Monday, February 10th. The shares were sold at an average price of $44.72, for a total transaction of $141,762.40. Following the completion of the transaction, the vice president now owns 39,446 shares in the company, valued at approximately $1,764,025.12. This trade represents a 7.44 % decrease in their position. 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 quarter. 1.00% of the stock is currently owned by company insiders.

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.