BidaskClub upgraded shares of Potlatchdeltic (NASDAQ:PCH) from a strong sell rating to a sell rating in a research note released on Wednesday.
Several other equities research analysts have also issued reports on the stock. ValuEngine raised shares of Potlatchdeltic from a sell rating to a hold rating in a report on Saturday, February 2nd. Raymond James downgraded shares of Potlatchdeltic from an outperform rating to a mkt perform rating in a research report on Tuesday, January 8th. Vertical Research upgraded shares of Potlatchdeltic from a hold rating to a buy rating in a research report on Monday, January 7th. Zacks Investment Research upgraded shares of Potlatchdeltic from a sell rating to a hold rating in a research report on Wednesday, January 2nd. Finally, BMO Capital Markets cut their target price on shares of Potlatchdeltic from $49.00 to $44.00 and set a hold rating on the stock in a research report on Wednesday, October 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $49.50.
Shares of Potlatchdeltic stock opened at $36.78 on Wednesday. The company has a market cap of $2.27 billion, a P/E ratio of 16.13, a P/E/G ratio of 6.52 and a beta of 1.31. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.48 and a current ratio of 1.92. Potlatchdeltic has a 1 year low of $28.07 and a 1 year high of $53.75.
Potlatchdeltic (NASDAQ:PCH) last announced its quarterly earnings results on Monday, February 4th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The company had revenue of $217.25 million for the quarter, compared to analyst estimates of $225.86 million. Potlatchdeltic had a net margin of 12.61% and a return on equity of 10.87%. During the same period in the previous year, the firm posted $0.62 EPS. Equities research analysts forecast that Potlatchdeltic will post 1.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.35%. Potlatchdeltic’s dividend payout ratio is presently 70.18%.
In other news, CFO Jerald W. Richards sold 9,390 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $35.01, for a total value of $328,743.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Covey sold 40,722 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $35.01, for a total transaction of $1,425,677.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,374 shares of company stock worth $2,323,754. 3.00% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its position in shares of Potlatchdeltic by 3,277.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 834,758 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 810,044 shares during the period. Advisor Group Inc. lifted its position in shares of Potlatchdeltic by 107.8% during the 4th quarter. Advisor Group Inc. now owns 1,253 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 650 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Potlatchdeltic during the 4th quarter valued at $101,000. LS Investment Advisors LLC lifted its position in shares of Potlatchdeltic by 10.3% during the 4th quarter. LS Investment Advisors LLC now owns 3,729 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 348 shares during the period. Finally, Wealthcare Advisory Partners LLC lifted its position in shares of Potlatchdeltic by 9.5% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 4,546 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 395 shares during the period. Hedge funds and other institutional investors own 85.34% of the company’s stock.
Potlatchdeltic Company Profile
PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland sales program.
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