Parvin Asset Management LLC Makes New $314,000 Investment in PotlatchDeltic Co. (NASDAQ:PCH)

Parvin Asset Management LLC bought a new position in PotlatchDeltic Co. (NASDAQ:PCH) in the fourth quarter, Holdings Channel.com reports. The firm bought 7,995 shares of the real estate investment trust’s stock, valued at approximately $314,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PCH. Quarry LP lifted its holdings in shares of PotlatchDeltic by 224.2% in the fourth quarter. Quarry LP now owns 697 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 482 shares during the last quarter. Fifth Third Bancorp grew its holdings in PotlatchDeltic by 259.7% during the 4th quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 818 shares during the last quarter. Sterling Capital Management LLC increased its position in PotlatchDeltic by 806.9% in the 4th quarter. Sterling Capital Management LLC now owns 2,503 shares of the real estate investment trust’s stock valued at $98,000 after acquiring an additional 2,227 shares during the period. GeoWealth Management LLC bought a new position in shares of PotlatchDeltic during the fourth quarter valued at $131,000. Finally, KBC Group NV lifted its holdings in shares of PotlatchDeltic by 67.3% during the fourth quarter. KBC Group NV now owns 3,685 shares of the real estate investment trust’s stock worth $145,000 after purchasing an additional 1,483 shares during the period. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Stock Performance

Shares of PCH opened at $38.71 on Wednesday. The stock has a market capitalization of $3.05 billion, a P/E ratio of 138.25 and a beta of 1.12. The firm’s fifty day simple moving average is $42.91 and its two-hundred day simple moving average is $42.50. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46. PotlatchDeltic Co. has a 12 month low of $36.82 and a 12 month high of $48.12.

PotlatchDeltic (NASDAQ:PCH) last released its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.13. The company had revenue of $268.26 million for the quarter, compared to analysts’ expectations of $243.68 million. PotlatchDeltic had a net margin of 2.06% and a return on equity of 1.05%. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, analysts predict that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.80 annualized dividend and a yield of 4.65%. PotlatchDeltic’s dividend payout ratio (DPR) is 642.86%.

Insider Buying and Selling at PotlatchDeltic

In other PotlatchDeltic news, VP Michele Tyler sold 3,170 shares of the stock in a transaction dated Monday, February 10th. The shares were 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 in the company, valued at approximately $1,764,025.12. This trade represents a 7.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 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 90 days, insiders sold 18,651 shares of company stock worth $834,770. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

PCH has been the subject of a number of recent research reports. Citigroup decreased their price objective on PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. DA Davidson set a $54.00 price objective on PotlatchDeltic in a report on Wednesday, January 29th. Truist Financial decreased their price objective on PotlatchDeltic from $44.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Finally, StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.43.

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.