Royal Bank of Canada Reiterates “Outperform” Rating for PotlatchDeltic (NASDAQ:PCH)

Royal Bank of Canada reissued their outperform rating on shares of PotlatchDeltic (NASDAQ:PCH) in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a $50.00 price objective on the real estate investment trust’s stock.

Other analysts also recently issued reports about the company. Truist Financial upped their price objective on PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Thursday, September 12th. Finally, StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.67.

PotlatchDeltic Trading Up 0.6 %

Shares of PCH opened at $41.81 on Wednesday. PotlatchDeltic has a fifty-two week low of $37.06 and a fifty-two week high of $50.04. The company has a market capitalization of $3.30 billion, a PE ratio of 199.10 and a beta of 1.14. The stock has a fifty day moving average of $43.56 and a two-hundred day moving average of $42.20. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.00 and a current ratio of 1.24.

PotlatchDeltic (NASDAQ:PCH) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.08. The firm had revenue of $255.10 million during the quarter, compared to analyst estimates of $241.35 million. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 earnings per share. As a group, analysts forecast that PotlatchDeltic will post 0.05 EPS for the current year.

PotlatchDeltic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date was Friday, September 13th. PotlatchDeltic’s dividend payout ratio is presently 857.14%.

Institutional Investors Weigh In On PotlatchDeltic

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in PotlatchDeltic by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 11,736,374 shares of the real estate investment trust’s stock worth $551,844,000 after buying an additional 57,237 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of PotlatchDeltic by 3.6% in the second quarter. Westwood Holdings Group Inc. now owns 1,664,242 shares of the real estate investment trust’s stock worth $65,554,000 after acquiring an additional 58,111 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in PotlatchDeltic by 19.2% in the first quarter. Janus Henderson Group PLC now owns 1,316,743 shares of the real estate investment trust’s stock valued at $61,913,000 after purchasing an additional 212,121 shares during the last quarter. Deprince Race & Zollo Inc. grew its stake in PotlatchDeltic by 33.0% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,227,361 shares of the real estate investment trust’s stock valued at $48,346,000 after purchasing an additional 304,352 shares in the last quarter. Finally, Heartland Advisors Inc. increased its holdings in PotlatchDeltic by 6.4% during the 1st quarter. Heartland Advisors Inc. now owns 521,312 shares of the real estate investment trust’s stock worth $24,512,000 after purchasing an additional 31,514 shares during the last quarter. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

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.