Summit Trail Advisors LLC Acquires New Shares in PotlatchDeltic Co. (NASDAQ:PCH)

Summit Trail Advisors LLC bought a new position in shares of PotlatchDeltic Co. (NASDAQ:PCH) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 21,068 shares of the real estate investment trust’s stock, valued at approximately $1,034,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Manchester Capital Management LLC increased its holdings in shares of PotlatchDeltic by 2,132.0% during the 3rd quarter. Manchester Capital Management LLC now owns 558 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 533 shares during the period. Millburn Ridgefield Corp bought a new position in shares of PotlatchDeltic during the 3rd quarter worth about $28,000. Fifth Third Bancorp increased its holdings in shares of PotlatchDeltic by 43.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,002 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 305 shares during the period. Planned Solutions Inc. bought a new position in shares of PotlatchDeltic during the 4th quarter worth about $60,000. Finally, VitalStone Financial LLC increased its holdings in shares of PotlatchDeltic by 109.6% during the 3rd quarter. VitalStone Financial LLC now owns 3,608 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 1,887 shares during the period. Institutional investors and hedge funds own 86.06% of the company’s stock.

PotlatchDeltic Price Performance

Shares of PCH stock traded up $0.69 during trading hours on Monday, reaching $42.69. 441,773 shares of the company were exchanged, compared to its average volume of 415,892. PotlatchDeltic Co. has a fifty-two week low of $39.86 and a fifty-two week high of $54.44. The stock’s fifty day moving average is $44.40 and its two-hundred day moving average is $45.51. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 73.69 and a beta of 1.19. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.42 and a quick ratio of 1.12.

PotlatchDeltic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.22%. PotlatchDeltic’s payout ratio is 315.80%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PCH shares. Royal Bank of Canada raised shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $45.00 to $46.00 in a research note on Wednesday, May 1st. Truist Financial decreased their price objective on shares of PotlatchDeltic from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, PotlatchDeltic currently has a consensus rating of “Hold” and a consensus target price of $50.67.

Insider Activity at PotlatchDeltic

In related news, CEO Eric J. Cremers sold 17,591 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $45.13, for a total value of $793,881.83. Following the transaction, the chief executive officer now directly owns 241,111 shares in the company, valued at $10,881,339.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Eric J. Cremers sold 17,591 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.13, for a total transaction of $793,881.83. Following the completion of the sale, the chief executive officer now owns 241,111 shares of the company’s stock, valued at $10,881,339.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Wayne Wasechek sold 1,565 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.13, for a total transaction of $70,628.45. Following the completion of the transaction, the chief financial officer now directly owns 21,247 shares of the company’s stock, valued at approximately $958,877.11. The disclosure for this sale can be found here. Insiders have sold 23,124 shares of company stock worth $1,043,626 over the last ninety days. Company insiders own 1.00% of the company’s stock.

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.