BMO Capital Markets upgraded shares of PotlatchDeltic (NASDAQ:PCH - Free Report) from a market perform rating to an outperform rating in a report released on Friday, MarketBeat.com reports. BMO Capital Markets currently has $51.00 price target on the real estate investment trust's stock.
Several other brokerages have also issued reports on PCH. Truist Financial lifted their price objective on shares of PotlatchDeltic from $42.00 to $45.00 and gave the company a "hold" rating in a report on Tuesday, October 15th. 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. StockNews.com upgraded PotlatchDeltic from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Finally, Bank of America upgraded shares of PotlatchDeltic from a "neutral" rating to a "buy" rating and set a $51.00 target price for the company in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $49.25.
Get Our Latest Stock Report on PCH
PotlatchDeltic Trading Up 1.2 %
Shares of NASDAQ:PCH traded up $0.52 during trading on Friday, reaching $44.27. 461,257 shares of the company were exchanged, compared to its average volume of 429,698. The business's fifty day simple moving average is $43.03 and its 200-day simple moving average is $42.34. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.93. PotlatchDeltic has a 12-month low of $37.06 and a 12-month high of $50.04. The firm has a market capitalization of $3.49 billion, a PE ratio of 211.48 and a beta of 1.14.
PotlatchDeltic (NASDAQ:PCH - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $241.35 million. During the same period in the previous year, the company posted $0.14 EPS. PotlatchDeltic's revenue was down 3.9% on a year-over-year basis. On average, research analysts anticipate that PotlatchDeltic will post 0.15 EPS for the current year.
PotlatchDeltic Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.07%. PotlatchDeltic's dividend payout ratio is currently 857.14%.
Institutional Trading of PotlatchDeltic
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Independence Bank of Kentucky purchased a new position in PotlatchDeltic during the second quarter valued at approximately $51,000. Quarry LP acquired a new stake in shares of PotlatchDeltic during the 2nd quarter worth approximately $82,000. Quest Partners LLC purchased a new position in shares of PotlatchDeltic during the 2nd quarter valued at approximately $85,000. Systematic Financial Management LP acquired a new position in shares of PotlatchDeltic in the 3rd quarter valued at $166,000. Finally, FMR LLC boosted its holdings in PotlatchDeltic by 20.4% during the third quarter. FMR LLC now owns 4,329 shares of the real estate investment trust's stock worth $195,000 after buying an additional 733 shares in the last quarter. Institutional investors and hedge funds own 86.06% of the company's stock.
About PotlatchDeltic
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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.
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