Allspring Global Investments Holdings LLC Has $6.36 Million Position in PotlatchDeltic Co. (NASDAQ:PCH)

Allspring Global Investments Holdings LLC grew its holdings in PotlatchDeltic Co. (NASDAQ:PCH) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 162,135 shares of the real estate investment trust’s stock after purchasing an additional 7,567 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.21% of PotlatchDeltic worth $6,364,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp lifted its stake in shares of PotlatchDeltic by 259.7% in the fourth quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 818 shares during the period. Systematic Financial Management LP bought a new stake in shares of PotlatchDeltic in the third quarter valued at about $166,000. KBC Group NV lifted its stake in shares of PotlatchDeltic by 67.3% in the fourth quarter. KBC Group NV now owns 3,685 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 1,483 shares during the period. FMR LLC lifted its stake in shares of PotlatchDeltic by 20.4% in the third quarter. FMR LLC now owns 4,329 shares of the real estate investment trust’s stock valued at $195,000 after buying an additional 733 shares during the period. Finally, Versor Investments LP bought a new position in PotlatchDeltic during the third quarter worth about $257,000. 86.06% of the stock is owned by institutional investors and hedge funds.

PotlatchDeltic Trading Down 0.7 %

PCH opened at $44.53 on Thursday. The firm’s fifty day simple moving average is $41.71 and its 200 day simple moving average is $42.63. 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 $37.06 and a 12 month high of $47.65. The stock has a market capitalization of $3.51 billion, a P/E ratio of 159.04 and a beta of 1.17.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.07 EPS for the quarter, topping 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 anticipate that PotlatchDeltic Co. will post 0.8 EPS for the current fiscal year.

PotlatchDeltic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.80 annualized dividend and a dividend yield of 4.04%. PotlatchDeltic’s dividend payout ratio is presently 642.86%.

Wall Street Analyst Weigh In

A number of research analysts have commented on PCH shares. Citigroup cut their price target on shares of PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. BMO Capital Markets upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price target for the company in a research note on Friday, December 6th. StockNews.com upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Raymond James upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Monday, December 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 target price on shares of PotlatchDeltic in a research note on Wednesday, October 30th. Two investment 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, PotlatchDeltic currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.57.

Insider Transactions at PotlatchDeltic

In related news, CFO Wayne Wasechek sold 1,293 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $44.82, for a total value of $57,952.26. Following the completion of the transaction, the chief financial officer now owns 27,701 shares of the company’s stock, valued at $1,241,558.82. This represents a 4.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michele Tyler sold 3,170 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $44.72, for a total transaction of $141,762.40. Following the completion of the transaction, the vice president now owns 39,446 shares of the company’s stock, valued at approximately $1,764,025.12. This trade represents a 7.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,651 shares of company stock worth $834,770 in the last ninety days. Insiders own 1.00% of the company’s stock.

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.