Peregrine Capital Management LLC Sells 461 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Peregrine Capital Management LLC decreased its position in PotlatchDeltic Co. (NASDAQ:PCH) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,466 shares of the real estate investment trust’s stock after selling 461 shares during the period. Peregrine Capital Management LLC owned about 0.17% of PotlatchDeltic worth $5,297,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in shares of PotlatchDeltic by 1.5% during the 4th quarter. Franklin Resources Inc. now owns 27,287 shares of the real estate investment trust’s stock worth $1,340,000 after acquiring an additional 395 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in PotlatchDeltic by 0.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 106,448 shares of the real estate investment trust’s stock worth $5,005,000 after purchasing an additional 413 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of PotlatchDeltic by 0.7% in the 4th quarter. M&T Bank Corp now owns 57,776 shares of the real estate investment trust’s stock worth $2,836,000 after purchasing an additional 423 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of PotlatchDeltic by 2.2% during the 1st quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the real estate investment trust’s stock valued at $1,072,000 after purchasing an additional 500 shares during the last quarter. Finally, State of Michigan Retirement System raised its holdings in shares of PotlatchDeltic by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 19,531 shares of the real estate investment trust’s stock valued at $918,000 after buying an additional 500 shares in the last quarter. 86.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

PCH has been the subject of several research reports. Truist Financial cut their target price on PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada lifted their target price on shares of PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.00.

PotlatchDeltic Trading Up 0.9 %

NASDAQ:PCH opened at $43.46 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average of $41.15 and a 200 day moving average of $42.75. The firm has a market capitalization of $3.46 billion, a P/E ratio of 76.25, a P/E/G ratio of 121.70 and a beta of 1.12. PotlatchDeltic Co. has a 52 week low of $37.06 and a 52 week high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last released its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The business had revenue of $320.70 million during the quarter, compared to analysts’ expectations of $305.01 million. During the same quarter last year, the business posted $0.06 EPS. The business’s revenue was up 30.3% on a year-over-year basis. On average, research analysts predict that PotlatchDeltic Co. will post 0.04 earnings per share for the current year.

PotlatchDeltic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Friday, September 13th. PotlatchDeltic’s payout ratio is currently 315.79%.

Insiders Place Their Bets

In other news, VP Ashlee Townsend Cribb sold 4,114 shares of PotlatchDeltic stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $43.11, for a total transaction of $177,354.54. Following the sale, the vice president now owns 29,039 shares of the company’s stock, valued at approximately $1,251,871.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

PotlatchDeltic 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.