State of New Jersey Common Pension Fund D Grows Position in PotlatchDeltic Co. (NASDAQ:PCH)

State of New Jersey Common Pension Fund D raised its position in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 10.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,388 shares of the real estate investment trust’s stock after buying an additional 4,893 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of PotlatchDeltic worth $1,978,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Adelante Capital Management LLC lifted its stake in shares of PotlatchDeltic by 3,486.3% during the 3rd quarter. Adelante Capital Management LLC now owns 1,147,262 shares of the real estate investment trust’s stock worth $51,684,000 after acquiring an additional 1,115,272 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of PotlatchDeltic by 22.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 900,447 shares of the real estate investment trust’s stock valued at $40,565,000 after acquiring an additional 163,774 shares during the period. Curi RMB Capital LLC increased its holdings in shares of PotlatchDeltic by 0.5% in the 3rd quarter. Curi RMB Capital LLC now owns 335,671 shares of the real estate investment trust’s stock valued at $15,122,000 after acquiring an additional 1,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of PotlatchDeltic by 29.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,946 shares of the real estate investment trust’s stock valued at $13,918,000 after acquiring an additional 69,887 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of PotlatchDeltic by 6.1% in the 3rd quarter. Fisher Asset Management LLC now owns 226,035 shares of the real estate investment trust’s stock valued at $10,183,000 after acquiring an additional 13,006 shares during the period. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PCH. Citigroup dropped their target price on PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Raymond James upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Monday, December 23rd. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. BMO Capital Markets upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a research note on Friday, December 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 price target on shares of PotlatchDeltic in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, PotlatchDeltic currently has a consensus rating of “Moderate Buy” and an average target price of $48.71.

PotlatchDeltic Stock Performance

NASDAQ PCH opened at $45.09 on Monday. The stock has a 50-day moving average of $41.81 and a 200 day moving average of $42.66. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $47.65. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 161.04 and a beta of 1.17. 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 (NASDAQ:PCH) last announced its earnings results on Monday, January 27th. The real estate investment trust reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.10. PotlatchDeltic had a return on equity of 1.05% and a net margin of 2.06%. Sell-side analysts anticipate that PotlatchDeltic Co. will post 0.8 EPS for the current fiscal year.

PotlatchDeltic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.99%. PotlatchDeltic’s dividend payout ratio (DPR) is presently 642.86%.

Insider Activity

In other PotlatchDeltic news, CFO Wayne Wasechek sold 1,293 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $44.82, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michele Tyler sold 3,170 shares of the company’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 transaction, the vice president now owns 39,446 shares in the company, valued at $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 sold 18,651 shares of company stock worth $834,770 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

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.