PotlatchDeltic (NASDAQ:PCH) PT Lowered to $53.00 at Bank of America

PotlatchDeltic (NASDAQ:PCHGet Rating) had its price target cut by Bank of America from $55.00 to $53.00 in a report released on Tuesday, The Fly reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently weighed in on the company. Raymond James decreased their price objective on PotlatchDeltic from $70.00 to $65.00 and set a strong-buy rating on the stock in a report on Tuesday, August 16th. StockNews.com lowered shares of PotlatchDeltic from a buy rating to a hold rating in a report on Wednesday, August 3rd. Truist Financial boosted their price target on shares of PotlatchDeltic to $51.00 and gave the stock an outperform rating in a research note on Wednesday, July 27th. Finally, DA Davidson reduced their price objective on PotlatchDeltic from $66.00 to $59.00 and set a buy rating on the stock in a research note on Monday, June 27th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $57.60.

PotlatchDeltic Price Performance

Shares of NASDAQ:PCH opened at $41.43 on Tuesday. PotlatchDeltic has a 12 month low of $41.27 and a 12 month high of $61.51. The stock has a market cap of $2.87 billion, a P/E ratio of 7.37 and a beta of 1.15. The company has a current ratio of 4.20, a quick ratio of 3.78 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $46.77 and a 200 day moving average of $49.82.

PotlatchDeltic (NASDAQ:PCHGet Rating) last posted its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.26. The firm had revenue of $359.60 million for the quarter, compared to analysts’ expectations of $341.42 million. PotlatchDeltic had a net margin of 29.77% and a return on equity of 23.13%. The business’s quarterly revenue was down 19.6% on a year-over-year basis. During the same quarter last year, the company posted $2.77 EPS. As a group, sell-side analysts forecast that PotlatchDeltic will post 5.22 EPS for the current fiscal year.

PotlatchDeltic Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Tuesday, September 20th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Monday, September 19th. PotlatchDeltic’s dividend payout ratio (DPR) is 31.32%.

PotlatchDeltic declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 31st that permits the company to buyback $200.00 million in shares. This buyback authorization permits the real estate investment trust to purchase up to 6.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On PotlatchDeltic

Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio raised its stake in PotlatchDeltic by 1.9% in the first quarter. Strs Ohio now owns 15,700 shares of the real estate investment trust’s stock worth $827,000 after buying an additional 300 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in PotlatchDeltic by 50.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 900 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 300 shares in the last quarter. US Bancorp DE raised its stake in PotlatchDeltic by 2.0% in the first quarter. US Bancorp DE now owns 16,705 shares of the real estate investment trust’s stock worth $881,000 after buying an additional 332 shares in the last quarter. Convergence Investment Partners LLC raised its stake in PotlatchDeltic by 1.2% in the second quarter. Convergence Investment Partners LLC now owns 29,236 shares of the real estate investment trust’s stock worth $1,292,000 after buying an additional 344 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its stake in PotlatchDeltic by 3.1% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 11,471 shares of the real estate investment trust’s stock worth $605,000 after buying an additional 348 shares in the last quarter. 80.72% of the stock is owned by institutional investors.

About PotlatchDeltic

(Get Rating)

PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns 1.8 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 residential and commercial real estate development business and a rural timberland sales program.

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Analyst Recommendations for PotlatchDeltic (NASDAQ:PCH)

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