PotlatchDeltic (NASDAQ:PCH) Price Target Cut to $44.00 by Analysts at Truist Financial

PotlatchDeltic (NASDAQ:PCH) had its price target reduced by Truist Financial from $45.00 to $44.00 in a research note published on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

A number of other research firms have also commented on PCH. Raymond James raised PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Monday, December 23rd. Bank of America raised shares of 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. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday, October 30th. Finally, BMO Capital Markets raised shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price target for the company in a report on Friday, December 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, PotlatchDeltic has a consensus rating of “Moderate Buy” and an average target price of $48.20.

PotlatchDeltic Trading Down 1.1 %

Shares of PotlatchDeltic stock opened at $39.00 on Monday. The stock has a market capitalization of $3.07 billion, a P/E ratio of 185.71 and a beta of 1.16. PotlatchDeltic has a 12-month low of $37.06 and a 12-month high of $49.27. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The company has a 50-day simple moving average of $41.71 and a 200 day simple moving average of $42.11.

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, beating analysts’ consensus estimates of ($0.04) by $0.08. The company had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $241.35 million. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. PotlatchDeltic’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. Research analysts expect that PotlatchDeltic will post 0.15 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend was Monday, December 16th. PotlatchDeltic’s dividend payout ratio (DPR) is presently 857.14%.

Institutional Investors Weigh In On PotlatchDeltic

A number of institutional investors and hedge funds have recently modified their holdings of the business. MQS Management LLC acquired a new stake in PotlatchDeltic during the 3rd quarter worth $771,000. TCW Group Inc. acquired a new stake in shares of PotlatchDeltic during the third quarter worth $1,923,000. Renaissance Technologies LLC increased its holdings in PotlatchDeltic by 2,054.5% in the second quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust’s stock valued at $4,053,000 after purchasing an additional 98,123 shares during the last quarter. Quest Partners LLC lifted its stake in PotlatchDeltic by 872.1% in the third quarter. Quest Partners LLC now owns 20,997 shares of the real estate investment trust’s stock valued at $946,000 after buying an additional 18,837 shares during the period. Finally, Foresight Group Ltd Liability Partnership boosted its holdings in PotlatchDeltic by 72.7% during the second quarter. Foresight Group Ltd Liability Partnership now owns 84,314 shares of the real estate investment trust’s stock worth $3,321,000 after buying an additional 35,494 shares during the last quarter. 86.06% of the stock is owned by 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.