Benson Investment Management Company Inc. bought a new stake in PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 50,300 shares of the real estate investment trust’s stock, valued at approximately $2,213,000. Benson Investment Management Company Inc. owned 0.06% of PotlatchDeltic as of its most recent filing with the Securities and Exchange Commission.
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Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Profund Advisors LLC boosted its holdings in PotlatchDeltic by 10.8% in the third quarter. Profund Advisors LLC now owns 5,807 shares of the real estate investment trust’s stock valued at $238,000 after purchasing an additional 568 shares during the period. Victory Capital Management Inc. boosted its holdings in PotlatchDeltic by 20.9% during the third quarter. Victory Capital Management Inc. now owns 49,735 shares of the real estate investment trust’s stock valued at $2,041,000 after buying an additional 8,589 shares during the last quarter. Verition Fund Management LLC acquired a new stake in PotlatchDeltic during the third quarter valued at approximately $269,000. Foundry Partners LLC raised its position in shares of PotlatchDeltic by 3.1% during the third quarter. Foundry Partners LLC now owns 115,005 shares of the real estate investment trust’s stock valued at $4,720,000 after purchasing an additional 3,511 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in PotlatchDeltic by 13.4% in the third quarter. The Manufacturers Life Insurance Company now owns 94,954 shares of the real estate investment trust’s stock valued at $3,897,000 after purchasing an additional 11,235 shares during the last quarter. 80.36% of the shares are owned by institutional investors.
In other PotlatchDeltic news, insider Wayne Wasecek sold 1,800 shares of PotlatchDeltic stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $47.99, for a total transaction of $86,382.00. Following the transaction, the insider now owns 12,322 shares of the company’s stock, valued at approximately $591,332.78. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other PotlatchDeltic news, insider Wayne Vasecek sold 1,800 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $47.99, for a total value of $86,382.00. Following the completion of the transaction, the insider now owns 12,322 shares in the company, valued at approximately $591,332.78. The sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through the SEC’s website. Also, VP Michele Tyler sold 4,676 shares of PotlatchDeltic stock in a transaction 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 sale, the vice president now owns 20,662 shares in the company, valued at $994,462.06. Disclosure of this sale can be found here. Insiders sold a total of 99,028 shares of company stock valued at $4,667,676 in the last quarter. Insiders own 2.00% of the company’s stock.
Changes in analyst ratings
A number of research firms recently commented on PCH. DA Davidson decreased their price objective on shares of PotlatchDeltic from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, January 24th. Truist Financial reduced their target price on PotlatchDeltic from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Wednesday, February 1st. StockNews.com assumed coverage on PotlatchDeltic in a research note on Thursday, March 16th. They assign a sell rating to the stock. Finally, Citigroup initiated coverage on shares of PotlatchDeltic in a research note on Wednesday, March 1st. They issued a “buy” rating on the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Moderate Buy” and an average target price of $55.40, according to MarketBeat .
Shares of PotlatchDeltic rose 0.4%
Shares of PCH stock opened at $46.90 on Friday. The stock has a market cap of $3.75 billion, a PE ratio of 9.85 and a beta of 1.17. The company has a current ratio of 3.37, a quick ratio of 2.89 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average is $47.30 and its 200-day moving average is $45.65. PotlatchDeltic Co. has a 12-month low of $39.10 and a 12-month high of $58.13.
PotlatchDeltic (NASDAQ:PCH – Get Rating ) last posted its quarterly earnings results on Tuesday, January 31st. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.07). The business had revenue of $253.14 million during the quarter, compared to analyst estimates of $242.91 million. PotlatchDeltic had a net margin of 25.09% and a return on equity of 17.02%. PotlatchDeltic’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted earnings of $0.59 per share. Equities analysts predict that PotlatchDeltic Co. will post 1.25 EPS for the current year.
PotlatchDeltic Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 3rd will be given a $0.45 dividend. This is a positive change from PotlatchDeltic’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $1.80 annual dividend and a dividend yield of 3.84%. PotlatchDeltic’s dividend payout ratio is currently 37.82%.
PotlatchDeltic Company Profile
PotlatchDeltic Corp. operates as a real estate investment trust that owns and manages acres of forest. It operates in the following segments: Timberlands, Wood Products and Real Estate. Timberland’s segment includes the supply of logs, pulp, logs and logs.
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