Baird Financial Group Inc. Buys 4,963 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Baird Financial Group Inc. raised its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,729 shares of the real estate investment trust’s stock after purchasing an additional 4,963 shares during the quarter. Baird Financial Group Inc. owned 0.10% of PotlatchDeltic worth $3,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of PotlatchDeltic by 27.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,145,473 shares of the real estate investment trust’s stock valued at $44,960,000 after buying an additional 245,026 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of PotlatchDeltic by 4.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 162,135 shares of the real estate investment trust’s stock worth $6,364,000 after acquiring an additional 7,567 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of PotlatchDeltic by 4.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,542,771 shares of the real estate investment trust’s stock valued at $60,554,000 after purchasing an additional 70,745 shares during the last quarter. New York State Common Retirement Fund raised its position in PotlatchDeltic by 17.3% in the 4th quarter. New York State Common Retirement Fund now owns 271,698 shares of the real estate investment trust’s stock worth $10,664,000 after purchasing an additional 40,058 shares during the period. Finally, Stephens Inc. AR lifted its stake in PotlatchDeltic by 9.0% in the fourth quarter. Stephens Inc. AR now owns 7,995 shares of the real estate investment trust’s stock worth $314,000 after purchasing an additional 662 shares during the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Trading Up 0.1 %

Shares of PCH opened at $38.20 on Friday. PotlatchDeltic Co. has a 1-year low of $36.82 and a 1-year high of $48.12. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 136.43 and a beta of 1.16. The firm’s 50-day moving average price is $41.64 and its 200-day moving average price is $42.23. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46.

PotlatchDeltic (NASDAQ:PCH) last posted its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.13. The firm had revenue of $268.26 million for the quarter, compared to the consensus estimate of $243.68 million. PotlatchDeltic had a return on equity of 1.05% and a net margin of 2.06%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. Sell-side analysts anticipate that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend is Friday, June 6th. PotlatchDeltic’s dividend payout ratio is currently 295.08%.

Insider Activity

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 of the company’s stock, valued at $12,583,513.08. The trade was a 4.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Wayne Wasechek sold 1,293 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $44.82, for a total transaction of $57,952.26. Following the sale, the chief financial officer now directly owns 27,701 shares in the company, valued at $1,241,558.82. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,651 shares of company stock worth $834,770. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

PCH has been the topic of several analyst reports. DA Davidson set a $54.00 price objective on PotlatchDeltic in a report on Wednesday, January 29th. Citigroup dropped their price objective on PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Truist Financial dropped their price target on shares of PotlatchDeltic from $44.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Two 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, PotlatchDeltic currently has an average rating of “Moderate Buy” and a consensus price target of $48.43.

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.