Farringdon Capital Ltd. Acquires Shares of 5,923 PotlatchDeltic Co. (NASDAQ:PCH)

Farringdon Capital Ltd. bought a new position in PotlatchDeltic Co. (NASDAQ:PCH) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 5,923 shares of the real estate investment trust’s stock, valued at approximately $232,000.

Several other hedge funds have also recently made changes to their positions in the business. Zacks Investment Management purchased a new stake in PotlatchDeltic during the fourth quarter valued at approximately $454,000. Ceredex Value Advisors LLC lifted its position in PotlatchDeltic by 90.6% in the fourth quarter. Ceredex Value Advisors LLC now owns 333,500 shares of the real estate investment trust’s stock worth $13,090,000 after buying an additional 158,500 shares during the last quarter. Bridgewater Associates LP purchased a new position in PotlatchDeltic during the fourth quarter worth $1,438,000. Mariner LLC raised its stake in shares of PotlatchDeltic by 33.8% in the fourth quarter. Mariner LLC now owns 6,718 shares of the real estate investment trust’s stock valued at $264,000 after acquiring an additional 1,698 shares during the period. Finally, Barclays PLC lifted its holdings in shares of PotlatchDeltic by 25.4% in the 4th quarter. Barclays PLC now owns 205,450 shares of the real estate investment trust’s stock worth $8,064,000 after acquiring an additional 41,666 shares during the last quarter. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PotlatchDeltic

In other news, VP Michele Tyler sold 3,170 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $44.72, for a total value of $141,762.40. Following the completion of the sale, the vice president now owns 39,446 shares of the company’s stock, valued at $1,764,025.12. This trade represents a 7.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Wayne Wasechek sold 1,293 shares of the company’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. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,651 shares of company stock valued at $834,770 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

PotlatchDeltic Stock Up 2.6 %

Shares of PotlatchDeltic stock opened at $39.73 on Friday. PotlatchDeltic Co. has a 1 year low of $36.82 and a 1 year high of $48.12. 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 stock has a market cap of $3.13 billion, a price-to-earnings ratio of 141.89 and a beta of 1.12. The firm’s 50-day moving average is $43.67 and its two-hundred day moving average is $42.71.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings data 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%. As a group, research analysts expect that PotlatchDeltic Co. will post 0.8 earnings per share for the current fiscal year.

PotlatchDeltic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors 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 4.53%. The ex-dividend date of this dividend was Friday, March 7th. PotlatchDeltic’s dividend payout ratio (DPR) is currently 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.