PotlatchDeltic (NASDAQ:PCH) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of PotlatchDeltic (NASDAQ:PCH) from a sell rating to a hold rating in a research note published on Tuesday morning.

Other research analysts also recently issued research reports about the stock. Bank of America upgraded shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Thursday, September 12th. Truist Financial lifted their price target on PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 price objective on shares of PotlatchDeltic in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $48.67.

PotlatchDeltic Trading Down 2.6 %

Shares of NASDAQ:PCH opened at $41.31 on Tuesday. The company has a market capitalization of $3.25 billion, a PE ratio of 196.71 and a beta of 1.14. PotlatchDeltic has a 12-month low of $37.06 and a 12-month high of $50.04. The business has a 50 day moving average of $43.42 and a two-hundred day moving average of $42.26. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42.

PotlatchDeltic (NASDAQ:PCH) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.08. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The business had revenue of $255.10 million for the quarter, compared to analyst estimates of $241.35 million. During the same period in the prior year, the company posted $0.14 EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, analysts forecast that PotlatchDeltic will post 0.15 EPS for the current year.

PotlatchDeltic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.45 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.36%. PotlatchDeltic’s payout ratio is 857.14%.

Institutional Trading of PotlatchDeltic

Several hedge funds have recently modified their holdings of PCH. Fisher Asset Management LLC increased its position in shares of PotlatchDeltic by 6.1% in the third quarter. Fisher Asset Management LLC now owns 226,035 shares of the real estate investment trust’s stock valued at $10,183,000 after buying an additional 13,006 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of PotlatchDeltic by 28.4% during the third quarter. Cerity Partners LLC now owns 22,812 shares of the real estate investment trust’s stock worth $1,028,000 after buying an additional 5,049 shares in the last quarter. Intech Investment Management LLC acquired a new position in PotlatchDeltic in the 3rd quarter valued at $781,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in PotlatchDeltic during the third quarter worth about $372,000. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of PotlatchDeltic in the 3rd quarter valued at $2,162,000. 86.06% of the stock is owned by institutional investors and hedge funds.

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.