Raymond James Financial Inc. Acquires New Position in PotlatchDeltic Co. (NASDAQ:PCH)

Raymond James Financial Inc. bought a new position in PotlatchDeltic Co. (NASDAQ:PCH) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 54,225 shares of the real estate investment trust’s stock, valued at approximately $2,128,000.

Several other institutional investors and hedge funds have also made changes to their positions in PCH. Fiduciary Counselling Inc. lifted its position in PotlatchDeltic by 0.5% during 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 in the last quarter. Proficio Capital Partners LLC acquired a new position in PotlatchDeltic in the 4th quarter valued at about $741,000. Victory Capital Management Inc. increased its holdings in shares of PotlatchDeltic by 91.2% during the 4th quarter. Victory Capital Management Inc. now owns 41,976 shares of the real estate investment trust’s stock worth $1,648,000 after buying an additional 20,022 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position 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 buying an additional 70,745 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of PotlatchDeltic by 34.0% during the 4th quarter. Fisher Asset Management LLC now owns 302,959 shares of the real estate investment trust’s stock valued at $11,891,000 after buying an additional 76,924 shares during the period. 86.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on PCH. DA Davidson set a $54.00 target price on PotlatchDeltic in a research report on Wednesday, January 29th. Truist Financial decreased their price objective on shares of PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Citigroup cut their target price on PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Raymond James upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Monday, December 23rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.71.

PotlatchDeltic Stock Performance

NASDAQ PCH opened at $44.82 on Monday. 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 company has a market capitalization of $3.53 billion, a PE ratio of 160.07 and a beta of 1.14. The company has a fifty day moving average of $44.72 and a two-hundred day moving average of $43.25. PotlatchDeltic Co. has a 1 year low of $37.06 and a 1 year high of $48.12.

PotlatchDeltic (NASDAQ:PCH) last issued 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 net margin of 2.06% and a return on equity of 1.05%. As a group, analysts expect that PotlatchDeltic Co. will post 0.8 earnings per share for the current year.

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.02%. PotlatchDeltic’s dividend payout ratio (DPR) is presently 642.86%.

Insider Buying and Selling

In other news, CEO Eric J. Cremers sold 14,188 shares of the firm’s stock in a transaction on 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 $12,583,513.08. This trade represents a 4.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Michele Tyler sold 3,170 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $44.72, for a total transaction of $141,762.40. Following the completion of the sale, the vice president now owns 39,446 shares in the company, valued at $1,764,025.12. This represents a 7.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,651 shares of company stock valued at $834,770 over the last quarter. Company insiders own 2.00% of the company’s stock.

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.