Pictet Asset Management Holding SA Cuts Stock Position in 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 its most recent Form 13F filing with the Securities and Exchange Commission. 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 owned about 3.11% of PotlatchDeltic worth $96,095,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in shares of PotlatchDeltic by 259.7% during the fourth quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 818 shares in the last quarter. KBC Group NV grew its position in PotlatchDeltic by 67.3% during the 4th quarter. KBC Group NV now owns 3,685 shares of the real estate investment trust’s stock valued at $145,000 after purchasing an additional 1,483 shares during the last quarter. Systematic Financial Management LP bought a new stake in PotlatchDeltic during the 3rd quarter valued at about $166,000. FMR LLC raised its holdings in PotlatchDeltic by 20.4% in the third quarter. FMR LLC now owns 4,329 shares of the real estate investment trust’s stock worth $195,000 after buying an additional 733 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of PotlatchDeltic in the third quarter worth approximately $284,000. 86.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Wayne Wasechek sold 1,293 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 27,701 shares of the company’s stock, valued at $1,241,558.82. This represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michele Tyler sold 3,170 shares of PotlatchDeltic stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 18,651 shares of company stock valued at $834,770. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PCH shares. Truist Financial reduced their price target on shares of PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating for the company in a research report on Monday, January 6th. BMO Capital Markets upgraded 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. Raymond James raised PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research report on Monday, December 23rd. Citigroup decreased their target price on PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Finally, StockNews.com raised shares of 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 given a buy rating to the company. According to MarketBeat.com, PotlatchDeltic presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.71.

PotlatchDeltic Trading Down 0.4 %

Shares of NASDAQ:PCH opened at $44.82 on Friday. PotlatchDeltic Co. has a 52-week low of $37.06 and a 52-week high of $48.12. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 160.07 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.08 and a current ratio of 1.49. The stock’s 50-day simple moving average is $44.72 and its two-hundred day simple moving average is $43.24.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. PotlatchDeltic had a net margin of 2.06% and a return on equity of 1.05%. Analysts expect that PotlatchDeltic Co. will post 0.8 EPS for the current year.

PotlatchDeltic Dividend Announcement

The business 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 $0.45 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.80 annualized dividend and a dividend yield of 4.02%. PotlatchDeltic’s dividend payout ratio (DPR) is 642.86%.

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.