PotlatchDeltic (NASDAQ:PCH) Given Buy Rating at DA Davidson

DA Davidson reiterated their buy rating on shares of PotlatchDeltic (NASDAQ:PCH) in a research note published on Tuesday,Benzinga reports. DA Davidson currently has a $53.00 price target on the real estate investment trust’s stock.

A number of other analysts also recently issued reports on the company. Truist Financial cut their price objective on PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $50.00 price objective on shares of PotlatchDeltic in a research report on Wednesday, October 30th. StockNews.com downgraded PotlatchDeltic from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd. BMO Capital Markets raised PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a research report on Friday, December 6th. Finally, Citigroup cut their price objective on PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.57.

PotlatchDeltic Price Performance

PCH stock traded up $1.09 during midday trading on Tuesday, reaching $43.60. The stock had a trading volume of 570,090 shares, compared to its average volume of 419,366. The company’s fifty day simple moving average is $41.53 and its 200 day simple moving average is $42.41. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 207.62 and a beta of 1.16. PotlatchDeltic has a 52-week low of $37.06 and a 52-week high of $47.65.

PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, January 27th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. As a group, sell-side analysts predict that PotlatchDeltic will post 0.21 earnings per share for the current fiscal year.

PotlatchDeltic Dividend Announcement

The business also recently disclosed 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 4.13%. The ex-dividend date of this dividend was Monday, December 16th. PotlatchDeltic’s payout ratio is presently 857.14%.

Institutional Investors Weigh In On PotlatchDeltic

Several institutional investors have recently added to or reduced their stakes in the business. Adelante Capital Management LLC lifted its stake in PotlatchDeltic by 3,486.3% during the third quarter. Adelante Capital Management LLC now owns 1,147,262 shares of the real estate investment trust’s stock worth $51,684,000 after purchasing an additional 1,115,272 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in PotlatchDeltic by 22.2% in the third quarter. JPMorgan Chase & Co. now owns 900,447 shares of the real estate investment trust’s stock valued at $40,565,000 after buying an additional 163,774 shares during the last quarter. Curi RMB Capital LLC lifted its stake in PotlatchDeltic by 0.5% in the third quarter. Curi RMB Capital LLC now owns 335,671 shares of the real estate investment trust’s stock valued at $15,122,000 after buying an additional 1,578 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in PotlatchDeltic by 29.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,946 shares of the real estate investment trust’s stock valued at $13,918,000 after buying an additional 69,887 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in PotlatchDeltic by 6.1% in the third quarter. Fisher Asset Management LLC now owns 226,035 shares of the real estate investment trust’s stock valued at $10,183,000 after buying an additional 13,006 shares during the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

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.