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 released on Tuesday.

Several other analysts have also weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of PotlatchDeltic in a research note on Wednesday, October 30th. Truist Financial raised their target price on shares of PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Finally, Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Thursday, September 12th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $48.67.

PotlatchDeltic Price Performance

Shares of NASDAQ PCH opened at $41.77 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.93. PotlatchDeltic has a fifty-two week low of $37.06 and a fifty-two week high of $50.04. The stock has a market capitalization of $3.29 billion, a PE ratio of 198.90 and a beta of 1.14. The business has a fifty day moving average price of $43.37 and a two-hundred day moving average price of $42.26.

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

PotlatchDeltic Announces Dividend

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

Institutional Investors Weigh In On PotlatchDeltic

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bessemer Group Inc. raised its stake in PotlatchDeltic by 370.7% during the first quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 556 shares during the last quarter. Independence Bank of Kentucky acquired a new stake in PotlatchDeltic during the 2nd quarter worth about $51,000. Beach Investment Counsel Inc. PA acquired a new stake in PotlatchDeltic during the 2nd quarter worth about $59,000. Quarry LP bought a new position in shares of PotlatchDeltic in the 2nd quarter worth about $82,000. Finally, Quest Partners LLC acquired a new position in shares of PotlatchDeltic in the 2nd quarter valued at about $85,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

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.