Potlatchdeltic (PCH) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Potlatchdeltic (NASDAQ:PCH) from a sell rating to a hold rating in a report published on Tuesday.

PCH has been the subject of several other research reports. Vertical Research raised shares of Potlatchdeltic from a hold rating to a buy rating in a research report on Monday, January 7th. Raymond James cut shares of Potlatchdeltic from an outperform rating to a mkt perform rating in a research report on Tuesday, January 8th. ValuEngine cut shares of Potlatchdeltic from a hold rating to a sell rating in a research report on Wednesday, January 2nd. BMO Capital Markets raised shares of Potlatchdeltic from a market perform rating to an outperform rating and set a $44.00 price objective for the company in a research report on Monday. Finally, Zacks Investment Research raised shares of Potlatchdeltic from a sell rating to a hold rating in a research report on Wednesday, January 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $49.50.

PCH stock opened at $36.99 on Tuesday. 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 52 week low of $28.07 and a 52 week high of $53.75. The stock has a market capitalization of $2.51 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 6.67 and a beta of 1.33.

Potlatchdeltic (NASDAQ:PCH) last released its quarterly earnings results on Monday, February 4th. The real estate investment trust reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. Potlatchdeltic had a net margin of 12.61% and a return on equity of 10.87%. The business had revenue of $217.25 million for the quarter, compared to the consensus estimate of $225.86 million. During the same period in the prior year, the company posted $0.62 earnings per share. On average, analysts predict that Potlatchdeltic will post 1.11 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be issued a $0.40 dividend. The ex-dividend date is Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.33%. Potlatchdeltic’s dividend payout ratio (DPR) is currently 70.18%.

In other news, CFO Jerald W. Richards sold 9,390 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $35.01, for a total value of $328,743.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Covey sold 40,722 shares of the stock in a transaction dated 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. Insiders sold 66,374 shares of company stock valued at $2,323,754 in the last three months. Company insiders own 3.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of PCH. Vanguard Group Inc. raised its holdings in Potlatchdeltic by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 8,698,996 shares of the real estate investment trust’s stock valued at $356,224,000 after buying an additional 544,732 shares during the last quarter. Vanguard Group Inc raised its holdings in Potlatchdeltic by 6.7% in the 3rd quarter. Vanguard Group Inc now owns 8,698,996 shares of the real estate investment trust’s stock valued at $356,224,000 after buying an additional 544,732 shares during the last quarter. BlackRock Inc. raised its holdings in Potlatchdeltic by 8.5% in the 3rd quarter. BlackRock Inc. now owns 8,537,689 shares of the real estate investment trust’s stock valued at $349,616,000 after buying an additional 666,586 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Potlatchdeltic by 10.9% in the 3rd quarter. Renaissance Technologies LLC now owns 2,601,731 shares of the real estate investment trust’s stock valued at $106,541,000 after buying an additional 255,411 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its holdings in Potlatchdeltic by 11.1% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,363,557 shares of the real estate investment trust’s stock valued at $96,788,000 after buying an additional 237,010 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

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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