Congress Asset Management Co. Buys 15,779 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

Congress Asset Management Co. grew its stake in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 10.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 167,183 shares of the real estate investment trust’s stock after purchasing an additional 15,779 shares during the period. Congress Asset Management Co. owned approximately 0.21% of PotlatchDeltic worth $6,562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Fifth Third Bancorp boosted its stake in shares of PotlatchDeltic by 259.7% in the 4th quarter. Fifth Third Bancorp now owns 1,133 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 818 shares during the last quarter. KBC Group NV grew its stake in PotlatchDeltic by 67.3% in 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 period. Systematic Financial Management LP purchased a new stake in shares of PotlatchDeltic during the 3rd quarter valued at $166,000. FMR LLC raised its stake in shares of PotlatchDeltic by 20.4% during the 3rd quarter. FMR LLC now owns 4,329 shares of the real estate investment trust’s stock worth $195,000 after purchasing an additional 733 shares during the period. Finally, Versor Investments LP purchased a new position in shares of PotlatchDeltic in the 3rd quarter worth about $257,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

PotlatchDeltic Price Performance

PCH stock opened at $43.96 on Tuesday. The firm has a 50 day simple moving average of $41.67 and a two-hundred day simple moving average of $42.60. The stock has a market cap of $3.46 billion, a PE ratio of 157.00 and a beta of 1.17. PotlatchDeltic Co. has a one year low of $37.06 and a one year high of $47.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.08.

PotlatchDeltic (NASDAQ:PCH) last announced its earnings results on Monday, January 27th. The real estate investment trust reported $0.07 earnings per share (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%. On average, analysts predict 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. Investors of record on Friday, March 7th will be issued a dividend of $0.45 per share. 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 4.09%. PotlatchDeltic’s dividend payout ratio is 642.86%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PCH shares. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. Citigroup cut their price target on PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. Royal Bank of Canada restated an “outperform” rating and issued a $50.00 price objective on shares of PotlatchDeltic in a research note on Wednesday, October 30th. DA Davidson reiterated a “buy” rating and issued a $53.00 target price on shares of PotlatchDeltic in a research note on Tuesday, January 28th. Finally, 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 report on Monday, December 23rd. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.57.

Insider Buying and Selling

In other news, CEO Eric J. Cremers sold 14,188 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $44.76, for a total value of $635,054.88. Following the transaction, the chief executive officer now owns 281,133 shares in the company, valued at approximately $12,583,513.08. This trade represents a 4.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michele Tyler sold 3,170 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $44.72, for a total transaction of $141,762.40. Following the completion of the sale, the vice president now directly 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. Insiders sold 18,651 shares of company stock worth $834,770 in the last quarter. 2.00% of the stock is owned by insiders.

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.