Peregrine Capital Management LLC Increases Stake in PotlatchDeltic Co. (NASDAQ:PCH)

Peregrine Capital Management LLC raised its position in PotlatchDeltic Co. (NASDAQ:PCH) by 34.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 136,782 shares of the real estate investment trust’s stock after purchasing an additional 35,102 shares during the period. Peregrine Capital Management LLC’s holdings in PotlatchDeltic were worth $5,369,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its holdings in shares of PotlatchDeltic by 259.7% during 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 during the period. Systematic Financial Management LP purchased a new position in shares of PotlatchDeltic during the 3rd quarter worth $166,000. KBC Group NV raised its holdings 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 acquiring an additional 1,483 shares during the period. FMR LLC raised its holdings 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 acquiring an additional 733 shares during the period. Finally, Versor Investments LP purchased a new position in shares of PotlatchDeltic during the 3rd quarter worth $257,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Stock Performance

NASDAQ PCH opened at $44.53 on Thursday. The company has a market cap of $3.51 billion, a P/E ratio of 159.04 and a beta of 1.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.08. The stock has a 50-day moving average of $41.71 and a two-hundred day moving average of $42.63. PotlatchDeltic Co. has a 1-year low of $37.06 and a 1-year high of $47.65.

PotlatchDeltic (NASDAQ:PCH) last released its earnings results on Monday, January 27th. The real estate investment trust reported $0.07 earnings per share 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, analysts anticipate that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Announces Dividend

The company also recently announced 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 4.04%. The ex-dividend date of this dividend is Friday, March 7th. PotlatchDeltic’s dividend payout ratio is currently 642.86%.

Analysts Set New Price Targets

Several research firms have recently commented on PCH. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 price target on shares of PotlatchDeltic in a report on Wednesday, October 30th. BMO Capital Markets upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a report on Friday, December 6th. Citigroup cut their price objective on PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. DA Davidson reissued a “buy” rating and set a $53.00 price objective on shares of PotlatchDeltic in a research report on Tuesday, January 28th. Finally, Truist Financial cut their price objective on PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.57.

Insider Buying and Selling at PotlatchDeltic

In other news, CEO Eric J. Cremers sold 14,188 shares of PotlatchDeltic stock in a transaction dated Monday, February 10th. The stock was 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 owns 281,133 shares in the company, valued at approximately $12,583,513.08. This trade represents a 4.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Wayne Wasechek sold 1,293 shares of PotlatchDeltic stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $44.82, for a total value of $57,952.26. Following the completion of the transaction, the chief financial officer now owns 27,701 shares of the company’s stock, valued at $1,241,558.82. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,651 shares of company stock valued at $834,770 in the last three months. 1.00% of the stock is owned by corporate insiders.

PotlatchDeltic Company 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.