Citigroup Inc. Cuts Stock Position in PotlatchDeltic Co. (NASDAQ:PCH)

Citigroup Inc. lessened its stake in PotlatchDeltic Co. (NASDAQ:PCH) by 84.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,274 shares of the real estate investment trust’s stock after selling 28,376 shares during the quarter. Citigroup Inc.’s holdings in PotlatchDeltic were worth $239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Manchester Capital Management LLC grew its holdings in shares of PotlatchDeltic by 2,132.0% during the third quarter. Manchester Capital Management LLC now owns 558 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 533 shares in the last quarter. Intrepid Capital Management Inc. purchased a new stake in shares of PotlatchDeltic during the second quarter worth $30,000. Millburn Ridgefield Corp purchased a new stake in shares of PotlatchDeltic during the third quarter worth $28,000. Steward Partners Investment Advisory LLC grew its holdings in shares of PotlatchDeltic by 490.2% during the first quarter. Steward Partners Investment Advisory LLC now owns 903 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 750 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of PotlatchDeltic by 43.8% during the third quarter. Fifth Third Bancorp now owns 1,002 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Trading Up 1.4 %

NASDAQ PCH opened at $46.96 on Thursday. The firm’s 50-day moving average is $45.47 and its two-hundred day moving average is $45.96. PotlatchDeltic Co. has a 12 month low of $41.31 and a 12 month high of $54.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.44 and a quick ratio of 1.14. The stock has a market capitalization of $3.73 billion, a P/E ratio of 60.99 and a beta of 1.15.

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.80 annualized dividend and a dividend yield of 3.83%. PotlatchDeltic’s dividend payout ratio is presently 233.77%.

Insider Transactions at PotlatchDeltic

In related news, CEO Eric J. Cremers sold 17,591 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 241,111 shares in the company, valued at $10,881,339.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Eric J. Cremers sold 17,591 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 241,111 shares in the company, valued at $10,881,339.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michele Tyler sold 3,968 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $45.14, for a total transaction of $179,115.52. Following the sale, the vice president now owns 31,864 shares in the company, valued at $1,438,340.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,124 shares of company stock valued at $1,043,626. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Truist Financial dropped their target price on shares of PotlatchDeltic from $51.00 to $49.00 and set a “hold” rating for the company in a report on Wednesday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $48.00 price objective on shares of PotlatchDeltic in a report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $51.33.

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.