PotlatchDeltic (NASDAQ:PCH) Receives Outperform Rating from Royal Bank of Canada

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

A number of other equities analysts also recently commented on the stock. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Bank of America raised shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Thursday, September 12th. Finally, Truist Financial increased their target price on shares of PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, PotlatchDeltic currently has an average rating of “Hold” and a consensus target price of $48.67.

PotlatchDeltic Price Performance

Shares of PotlatchDeltic stock opened at $42.07 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.00. PotlatchDeltic has a fifty-two week low of $37.06 and a fifty-two week high of $50.04. The firm has a fifty day moving average price of $43.60 and a two-hundred day moving average price of $42.22. The company has a market cap of $3.32 billion, a PE ratio of 91.46 and a beta of 1.13.

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 net margin of 3.45% and a return on equity of 1.14%. The firm had revenue of $255.10 million during the quarter, compared to the consensus estimate of $241.35 million. During the same period in the prior year, the firm earned $0.14 EPS. The business’s revenue was down 3.9% on a year-over-year basis. Analysts expect that PotlatchDeltic will post 0.01 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 given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.28%. The ex-dividend date was Friday, September 13th. PotlatchDeltic’s payout ratio is presently 391.31%.

Institutional Investors Weigh In On PotlatchDeltic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ceredex Value Advisors LLC bought a new position in shares of PotlatchDeltic in the 3rd quarter valued at about $7,884,000. Bernzott Capital Advisors boosted its stake in shares of PotlatchDeltic by 7.7% in the 3rd quarter. Bernzott Capital Advisors now owns 187,506 shares of the real estate investment trust’s stock valued at $8,447,000 after purchasing an additional 13,390 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of PotlatchDeltic by 4,404.9% in the 3rd quarter. International Assets Investment Management LLC now owns 20,092 shares of the real estate investment trust’s stock valued at $905,000 after purchasing an additional 19,646 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of PotlatchDeltic by 73.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 154,568 shares of the real estate investment trust’s stock valued at $6,963,000 after purchasing an additional 65,682 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. bought a new position in shares of PotlatchDeltic in the 3rd quarter valued at about $219,000. 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.