M&T Bank Corp Acquires 423 Shares of PotlatchDeltic Co. (NASDAQ:PCH)

M&T Bank Corp increased its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 57,776 shares of the real estate investment trust’s stock after buying an additional 423 shares during the quarter. M&T Bank Corp’s holdings in PotlatchDeltic were worth $2,836,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Louisiana State Employees Retirement System purchased a new stake in PotlatchDeltic in the fourth quarter worth $1,095,000. Planned Solutions Inc. purchased a new stake in PotlatchDeltic in the 4th quarter worth about $60,000. Victory Capital Management Inc. raised its stake in PotlatchDeltic by 16.8% in the 3rd quarter. Victory Capital Management Inc. now owns 151,074 shares of the real estate investment trust’s stock valued at $6,857,000 after acquiring an additional 21,696 shares during the period. Mackenzie Financial Corp lifted its holdings in PotlatchDeltic by 78.5% during the third quarter. Mackenzie Financial Corp now owns 9,387 shares of the real estate investment trust’s stock valued at $421,000 after purchasing an additional 4,127 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in PotlatchDeltic by 109.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 17,058 shares of the real estate investment trust’s stock worth $774,000 after purchasing an additional 8,915 shares during the period. Hedge funds and other institutional investors own 86.06% of the company’s stock.

Insider Buying and Selling at PotlatchDeltic

In related news, CEO Eric J. Cremers sold 17,591 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $45.13, for a total transaction of $793,881.83. Following the transaction, the chief executive officer now owns 241,111 shares in the company, valued at approximately $10,881,339.43. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other PotlatchDeltic news, CFO Wayne Wasechek sold 1,565 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $45.13, for a total value of $70,628.45. Following the completion of the sale, the chief financial officer now directly owns 21,247 shares in the company, valued at $958,877.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric J. Cremers sold 17,591 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $45.13, for a total value of $793,881.83. Following the completion of the transaction, the chief executive officer now directly owns 241,111 shares of the company’s stock, valued at approximately $10,881,339.43. The disclosure for this sale can be found here. Insiders sold 23,124 shares of company stock valued at $1,043,626 in the last quarter. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PCH has been the subject of a number of recent research reports. Truist Financial reduced their price objective on shares of PotlatchDeltic from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Wednesday, January 31st. Royal Bank of Canada raised shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $45.00 to $46.00 in a research note on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PotlatchDeltic has a consensus rating of “Hold” and an average price target of $50.67.

PotlatchDeltic Trading Down 0.8 %

Shares of PCH opened at $42.35 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 1.42. PotlatchDeltic Co. has a fifty-two week low of $39.86 and a fifty-two week high of $54.44. The firm has a 50 day moving average price of $44.35 and a 200-day moving average price of $45.50. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 74.30 and a beta of 1.19.

PotlatchDeltic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Thursday, March 7th. PotlatchDeltic’s dividend payout ratio (DPR) is presently 315.79%.

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.