Clearbridge Investments LLC Sells 1,255 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Clearbridge Investments LLC reduced its stake in PotlatchDeltic Co. (NASDAQ:PCH) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 345,288 shares of the real estate investment trust’s stock after selling 1,255 shares during the quarter. Clearbridge Investments LLC’s holdings in PotlatchDeltic were worth $13,553,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PCH. Fifth Third Bancorp grew its stake in shares of PotlatchDeltic by 259.7% in the fourth quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 818 shares in the last quarter. Systematic Financial Management LP acquired a new position in shares of PotlatchDeltic during the 3rd quarter worth approximately $166,000. KBC Group NV increased its holdings in shares of PotlatchDeltic by 67.3% during the fourth 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 during the period. FMR LLC raised its position in shares of PotlatchDeltic by 20.4% in the third quarter. FMR LLC now owns 4,329 shares of the real estate investment trust’s stock valued at $195,000 after buying an additional 733 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of PotlatchDeltic in the third quarter valued at approximately $284,000. 86.06% of the stock is currently owned by institutional investors and hedge funds.

PotlatchDeltic Trading Up 0.1 %

Shares of PotlatchDeltic stock opened at $44.86 on Thursday. The firm has a market capitalization of $3.53 billion, a PE ratio of 160.21 and a beta of 1.14. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $44.87 and its 200 day moving average is $43.26. PotlatchDeltic Co. has a 1 year low of $37.06 and a 1 year high of $48.12.

PotlatchDeltic (NASDAQ:PCH) last announced 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%. Equities research analysts forecast that PotlatchDeltic Co. will post 0.8 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Friday, March 7th. PotlatchDeltic’s payout ratio is 642.86%.

Insider Transactions at PotlatchDeltic

In related news, CFO Wayne Wasechek sold 1,293 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $44.82, for a total value of $57,952.26. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michele Tyler sold 3,170 shares of PotlatchDeltic stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $44.72, for a total value of $141,762.40. Following the transaction, the vice president now directly owns 39,446 shares in the company, valued at $1,764,025.12. The trade was a 7.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,651 shares of company stock worth $834,770. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. DA Davidson set a $54.00 price objective on PotlatchDeltic in a research note on Wednesday, January 29th. Citigroup dropped their price target 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 upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Raymond James upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Monday, December 23rd. Finally, BMO Capital Markets upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.71.

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.