Pictet Asset Management Holding SA Sells 33,490 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Pictet Asset Management Holding SA decreased its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,448,285 shares of the real estate investment trust’s stock after selling 33,490 shares during the quarter. Pictet Asset Management Holding SA’s holdings in PotlatchDeltic were worth $96,095,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in PotlatchDeltic in the 4th quarter worth $217,145,000. Adelante Capital Management LLC lifted its position in shares of PotlatchDeltic by 3,486.3% in the third quarter. Adelante Capital Management LLC now owns 1,147,262 shares of the real estate investment trust’s stock worth $51,684,000 after buying an additional 1,115,272 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of PotlatchDeltic by 27.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,145,473 shares of the real estate investment trust’s stock worth $44,960,000 after buying an additional 245,026 shares in the last quarter. Heitman Real Estate Securities LLC bought a new position in PotlatchDeltic during the third quarter valued at approximately $8,153,000. Finally, NFJ Investment Group LLC purchased a new position in PotlatchDeltic during the 3rd quarter valued at approximately $5,878,000. 86.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PotlatchDeltic

In other news, CEO Eric J. Cremers sold 14,188 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 281,133 shares in the company, valued at approximately $12,583,513.08. This represents a 4.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michele Tyler sold 3,170 shares of the firm’s stock in a transaction dated 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 directly owns 39,446 shares of the company’s stock, valued at approximately $1,764,025.12. This represents a 7.44 % decrease in their position. 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 ninety days. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PCH. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Raymond James raised shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Monday, December 23rd. Truist Financial decreased their target price on shares of PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. DA Davidson set a $54.00 price target on PotlatchDeltic in a research report on Wednesday, January 29th. Finally, Citigroup decreased their price objective on PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.71.

PotlatchDeltic Stock Down 0.4 %

Shares of NASDAQ PCH opened at $44.82 on Friday. The firm has a 50-day simple moving average of $44.72 and a two-hundred day simple moving average of $43.24. PotlatchDeltic Co. has a 1 year low of $37.06 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 company has a market cap of $3.53 billion, a P/E ratio of 160.07 and a beta of 1.14.

PotlatchDeltic (NASDAQ:PCH) last released 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%. Research analysts anticipate that PotlatchDeltic Co. will post 0.8 earnings per share for the current year.

PotlatchDeltic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Friday, March 7th. PotlatchDeltic’s dividend payout ratio (DPR) is 642.86%.

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.