Corebridge Financial Inc. Sells 6,764 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Corebridge Financial Inc. reduced its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 5.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 120,098 shares of the real estate investment trust’s stock after selling 6,764 shares during the quarter. Corebridge Financial Inc.’s holdings in PotlatchDeltic were worth $4,714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EagleClaw Capital Managment LLC raised its stake in shares of PotlatchDeltic by 0.5% in the 4th quarter. EagleClaw Capital Managment LLC now owns 62,225 shares of the real estate investment trust’s stock valued at $2,442,000 after acquiring an additional 300 shares in the last quarter. Xponance Inc. raised its position in shares of PotlatchDeltic by 4.3% in the fourth quarter. Xponance Inc. now owns 10,706 shares of the real estate investment trust’s stock valued at $420,000 after purchasing an additional 446 shares during the period. Fiduciary Counselling Inc. lifted its stake in shares of PotlatchDeltic by 0.5% in the fourth quarter. Fiduciary Counselling Inc. now owns 116,716 shares of the real estate investment trust’s stock worth $4,581,000 after buying an additional 607 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of PotlatchDeltic by 3.3% during the 4th quarter. LPL Financial LLC now owns 20,266 shares of the real estate investment trust’s stock worth $795,000 after buying an additional 654 shares during the period. Finally, Stephens Inc. AR grew its stake in PotlatchDeltic by 9.0% in the 4th quarter. Stephens Inc. AR now owns 7,995 shares of the real estate investment trust’s stock valued at $314,000 after buying an additional 662 shares during the last quarter. Institutional investors and hedge funds own 86.06% of the company’s stock.

Insider Activity

In other PotlatchDeltic news, CFO Wayne Wasechek sold 1,293 shares of the business’s 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 transaction, the chief financial officer now directly owns 27,701 shares in the company, valued at $1,241,558.82. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eric J. Cremers sold 14,188 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $44.76, for a total transaction of $635,054.88. Following the sale, the chief executive officer now directly owns 281,133 shares of the company’s stock, valued at approximately $12,583,513.08. The trade was a 4.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,651 shares of company stock worth $834,770. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. BMO Capital Markets raised shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 target price for the company in a research report on Friday, December 6th. DA Davidson set a $54.00 target price on PotlatchDeltic in a research note on Wednesday, January 29th. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Citigroup reduced 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. Finally, Truist Financial dropped their target price on shares of PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PotlatchDeltic currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.71.

PotlatchDeltic Price Performance

Shares of NASDAQ:PCH opened at $44.82 on Monday. The business’s 50 day moving average is $44.72 and its 200-day moving average is $43.25. 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 has a market capitalization of $3.53 billion, a PE ratio of 160.07 and a beta of 1.14. 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, beating 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%. Sell-side analysts predict that PotlatchDeltic Co. will post 0.8 earnings per share for the current year.

PotlatchDeltic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Friday, March 7th. PotlatchDeltic’s payout ratio is 642.86%.

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.