PotlatchDeltic (NASDAQ:PCH) Shares Gap Down - Here's Why

PotlatchDeltic Co. (NASDAQ:PCH - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $42.86, but opened at $42.00. PotlatchDeltic shares last traded at $42.27, with a volume of 63,573 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PCH. BMO Capital Markets raised PotlatchDeltic from a "market perform" rating to an "outperform" rating and set a $51.00 price target on the stock in a research note on Friday, December 6th. 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. Citigroup lowered their target price on PotlatchDeltic from $52.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. Truist Financial cut their price target on PotlatchDeltic from $45.00 to $44.00 and set a "hold" rating for the company in a research note on Monday, January 6th. Finally, Raymond James raised shares of 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, PotlatchDeltic has a consensus rating of "Moderate Buy" and a consensus target price of $48.57.

PotlatchDeltic Stock Performance

The stock has a 50-day moving average price of $41.62 and a 200 day moving average price of $42.43. The firm has a market cap of $3.52 billion, a PE ratio of 159.75 and a beta of 1.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 0.93.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The real estate investment trust reported $0.07 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.10. PotlatchDeltic had a net margin of 2.06% and a return on equity of 1.05%. Research analysts forecast that PotlatchDeltic Co. will post 0.8 earnings per share for the current year.

PotlatchDeltic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.02%. PotlatchDeltic's payout ratio is 642.86%.

Hedge Funds Weigh In On PotlatchDeltic

Several hedge funds and other institutional investors have recently modified their holdings of PCH. Dimensional Fund Advisors LP purchased a new stake in PotlatchDeltic during the 2nd quarter worth $1,479,000. Bank of Montreal Can grew its stake in shares of PotlatchDeltic by 14.8% in the second quarter. Bank of Montreal Can now owns 11,070 shares of the real estate investment trust's stock valued at $437,000 after buying an additional 1,424 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of PotlatchDeltic during the 2nd quarter valued at about $1,142,000. Squarepoint Ops LLC lifted its position in PotlatchDeltic by 58.1% during the 2nd quarter. Squarepoint Ops LLC now owns 10,227 shares of the real estate investment trust's stock worth $403,000 after acquiring an additional 3,757 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in PotlatchDeltic by 14.4% in the 2nd quarter. AQR Capital Management LLC now owns 65,514 shares of the real estate investment trust's stock worth $2,573,000 after acquiring an additional 8,259 shares during the period. 86.06% of the stock is owned by institutional investors and hedge funds.

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.