Peregrine Capital Management LLC Grows Stake in PotlatchDeltic Co. (NASDAQ:PCH)

Peregrine Capital Management LLC boosted its position in shares of PotlatchDeltic Co. (NASDAQ:PCH – Get Rating) by 95.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 190,974 shares of the real estate investment trust’s stock after purchasing an additional 93,191 shares during the quarter. Peregrine Capital Management LLC owned about 0.24% of PotlatchDeltic worth $8,401,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PCH. Accel Wealth Management purchased a new position in shares of PotlatchDeltic in the 3rd quarter valued at $27,000. Quadrant Capital Group LLC increased its holdings in shares of PotlatchDeltic by 289.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 877 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 652 shares during the period. Wipfli Financial Advisors LLC acquired a new stake in shares of PotlatchDeltic in the 3rd quarter worth $43,000. Signaturefd LLC boosted its position in shares of PotlatchDeltic by 166.4% in the 3rd quarter. Signaturefd LLC now owns 1,124 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 702 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its position in PotlatchDeltic by 46.7% during the 3rd quarter. CENTRAL TRUST Co now owns 1,281 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 408 shares during the period. 80.36% of the stock is currently owned by hedge funds and other institutional investors.

PotlatchDeltic Price Performance

NASDAQ:PCH opened at $48.99 on Friday. PotlatchDeltic Co. has a 12 month low of $39.10 and a 12 month high of $58.13. The stock has a 50 day moving average of $46.94 and a two-hundred day moving average of $45.60. The company has a current ratio of 3.37, a quick ratio of 2.89 and a debt-to-equity ratio of 0.44. The firm has a market cap of $3.92 billion, a P/E ratio of 10.29 and a beta of 1.17.

PotlatchDeltic (NASDAQ:PCH – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The real estate investment trust reported $0.12 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.07). PotlatchDeltic had a return on equity of 17.02% and a net margin of 25.09%. The firm had revenue of $253.14 million for the quarter, compared to analysts’ expectations of $242.91 million. During the same quarter last year, the firm posted $0.59 earnings per share. PotlatchDeltic’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts expect that PotlatchDeltic Co. will post 1.25 earnings per share for the current fiscal year.

PotlatchDeltic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 3rd will be issued a dividend of $0.45 per share. This is a boost from PotlatchDeltic’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Thursday, March 2nd. PotlatchDeltic’s payout ratio is currently 37.82%.

Insider Transactions at PotlatchDeltic

In related news, Director Michael J. Covey sold 48,248 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $46.41, for a total value of $2,239,189.68. Following the transaction, the director now directly owns 116,768 shares in the company, valued at $5,419,202.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PotlatchDeltic news, Director Michael J. Covey sold 48,248 shares of the company’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $46.41, for a total transaction of $2,239,189.68. Following the transaction, the director now directly owns 116,768 shares in the company, valued at $5,419,202.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William R. Dereu sold 1,040 shares of the company’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $47.06, for a total value of $48,942.40. Following the transaction, the vice president now owns 56,968 shares in the company, valued at $2,680,914.08. The disclosure for this sale can be found here. Insiders have sold a total of 99,028 shares of company stock worth $4,667,676 in the last ninety days. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PCH shares. Citigroup started coverage on PotlatchDeltic in a report on Wednesday, March 1st. They issued a “buy” rating for the company. Truist Financial decreased their price objective on PotlatchDeltic from $48.00 to $47.00 and set a “hold” rating for the company in a report on Wednesday, February 1st. DA Davidson cut their price target on PotlatchDeltic from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, January 24th. Finally, StockNews.com started coverage on PotlatchDeltic in a research note on Thursday. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, PotlatchDeltic presently has an average rating of “Moderate Buy” and an average target price of $55.40.

PotlatchDeltic Company Profile

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PotlatchDeltic Corp. operates as a real estate investment trust, which engages in the ownership and management of acres of timberlands. It operates through the following segments: Timberlands, Wood Products, and Real Estate. The Timberland segment includes delivering logs, pulpwood, sawlogs, and stumpage.