PotlatchDeltic (NASDAQ:PCH) Upgraded at StockNews.com

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

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

PotlatchDeltic Trading Down 0.3 %

PCH stock traded down $0.11 during mid-day trading on Tuesday, reaching $41.81. 37,050 shares of the stock traded hands, compared to its average volume of 432,539. PotlatchDeltic has a 52-week low of $37.06 and a 52-week high of $50.04. The stock’s fifty day moving average is $43.39 and its 200-day moving average is $42.25. The company has a market cap of $3.29 billion, a P/E ratio of 199.62 and a beta of 1.14. 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 issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The business had revenue of $255.10 million for the quarter, compared to the consensus estimate of $241.35 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. PotlatchDeltic’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that PotlatchDeltic will post 0.15 earnings per share for the current year.

PotlatchDeltic Announces Dividend

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

Hedge Funds Weigh In On PotlatchDeltic

Several large investors have recently bought and sold shares of PCH. Bessemer Group Inc. raised its position in shares of PotlatchDeltic by 370.7% during the first quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 556 shares during the last quarter. Independence Bank of Kentucky acquired a new position in PotlatchDeltic in the 2nd quarter valued at approximately $51,000. Beach Investment Counsel Inc. PA bought a new stake in shares of PotlatchDeltic in the 2nd quarter worth approximately $59,000. Quarry LP acquired a new stake in shares of PotlatchDeltic during the 2nd quarter worth approximately $82,000. Finally, Quest Partners LLC bought a new stake in shares of PotlatchDeltic during the second quarter valued at approximately $85,000. 86.06% of the stock is currently 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.