PotlatchDeltic (NASDAQ:PCH) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of PotlatchDeltic (NASDAQ:PCH) from a neutral rating to a buy rating in a research note issued to investors on Thursday morning, Marketbeat reports. They currently have $51.00 price objective on the real estate investment trust’s stock.

Several other equities research analysts have also recently weighed in on PCH. StockNews.com raised shares of PotlatchDeltic from a sell rating to a hold rating in a research report on Friday, August 9th. Truist Financial lowered their target price on PotlatchDeltic from $49.00 to $42.00 and set a hold rating for the company in a report on Tuesday, July 16th. Finally, Royal Bank of Canada lifted their price target on PotlatchDeltic from $46.00 to $50.00 and gave the company an outperform rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $47.67.

PotlatchDeltic Stock Performance

PCH stock opened at $45.32 on Thursday. PotlatchDeltic has a twelve month low of $37.06 and a twelve month high of $50.04. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 79.51, a PEG ratio of 995.32 and a beta of 1.13. The business’s fifty day simple moving average is $42.06 and its two-hundred day simple moving average is $42.65. The company has a quick ratio of 1.00, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $320.70 million during the quarter, compared to the consensus estimate of $305.01 million. PotlatchDeltic had a net margin of 3.45% and a return on equity of 1.14%. The company’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share.

PotlatchDeltic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, September 13th. This represents a $1.80 annualized dividend and a yield of 3.97%. PotlatchDeltic’s payout ratio is presently 315.80%.

Insider Buying and Selling

In other PotlatchDeltic news, VP Ashlee Townsend Cribb sold 4,114 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $43.11, for a total value of $177,354.54. Following the sale, the vice president now directly owns 29,039 shares of the company’s stock, valued at $1,251,871.29. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in PotlatchDeltic by 0.5% during the first quarter. Vanguard Group Inc. now owns 11,736,374 shares of the real estate investment trust’s stock worth $551,844,000 after acquiring an additional 57,237 shares during the last quarter. Norges Bank purchased a new position in PotlatchDeltic in the 4th quarter worth approximately $150,557,000. Westwood Holdings Group Inc. boosted its holdings in shares of PotlatchDeltic by 3.6% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,664,242 shares of the real estate investment trust’s stock worth $65,554,000 after purchasing an additional 58,111 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of PotlatchDeltic by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,363,897 shares of the real estate investment trust’s stock valued at $66,967,000 after purchasing an additional 53,349 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in PotlatchDeltic by 19.2% during the first quarter. Janus Henderson Group PLC now owns 1,316,743 shares of the real estate investment trust’s stock worth $61,913,000 after buying an additional 212,121 shares in the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.

PotlatchDeltic Company 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.