PotlatchDeltic Co. (NASDAQ:PCH) – Investment analysts at Seaport Res Ptn upped their Q2 2021 EPS estimates for PotlatchDeltic in a note issued to investors on Wednesday, June 9th. Seaport Res Ptn analyst M. Weintraub now expects that the real estate investment trust will earn $3.10 per share for the quarter, up from their prior forecast of $2.60. Seaport Res Ptn also issued estimates for PotlatchDeltic’s Q3 2021 earnings at $2.21 EPS, Q4 2021 earnings at $0.75 EPS and FY2021 earnings at $8.00 EPS.
A number of other research firms also recently commented on PCH. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $65.00 price objective (up previously from $58.00) on shares of PotlatchDeltic in a research note on Tuesday, May 4th. DA Davidson reaffirmed a “neutral” rating on shares of PotlatchDeltic in a research note on Tuesday, March 23rd. BMO Capital Markets reissued a “market perform” rating and set a $61.00 target price (up previously from $58.00) on shares of PotlatchDeltic in a research report on Tuesday, May 4th. Finally, Raymond James increased their target price on shares of PotlatchDeltic from $61.00 to $79.00 and gave the stock a “strong-buy” rating in a research report on Monday, April 26th. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. PotlatchDeltic currently has a consensus rating of “Hold” and a consensus price target of $63.25.
PotlatchDeltic (NASDAQ:PCH) last released its earnings results on Sunday, April 25th. The real estate investment trust reported $1.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.76 by $0.18. PotlatchDeltic had a net margin of 26.53% and a return on equity of 24.67%. The company had revenue of $354.20 million for the quarter, compared to analyst estimates of $331.65 million. During the same period in the prior year, the firm earned ($0.25) EPS. The firm’s quarterly revenue was up 69.6% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Friday, June 4th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Thursday, June 3rd. PotlatchDeltic’s dividend payout ratio is presently 55.78%.
In other PotlatchDeltic news, Director William Lindeke Driscoll sold 18,333 shares of the company’s stock in a transaction that occurred on Thursday, May 6th. The stock was sold at an average price of $60.38, for a total value of $1,106,946.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Covey sold 79,741 shares of the company’s stock in a transaction that occurred on Friday, April 30th. The stock was sold at an average price of $60.09, for a total value of $4,791,636.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 144,122 shares of company stock valued at $8,676,384. 2.00% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Dupont Capital Management Corp boosted its stake in shares of PotlatchDeltic by 18.7% during the 1st quarter. Dupont Capital Management Corp now owns 28,976 shares of the real estate investment trust’s stock valued at $1,533,000 after buying an additional 4,564 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of PotlatchDeltic by 4.5% during the 4th quarter. Rhumbline Advisers now owns 236,863 shares of the real estate investment trust’s stock valued at $11,848,000 after buying an additional 10,293 shares during the last quarter. RMB Capital Management LLC boosted its stake in shares of PotlatchDeltic by 8.9% during the 1st quarter. RMB Capital Management LLC now owns 229,468 shares of the real estate investment trust’s stock valued at $12,143,000 after buying an additional 18,733 shares during the last quarter. State of Tennessee Treasury Department lifted its stake in PotlatchDeltic by 55.3% during the first quarter. State of Tennessee Treasury Department now owns 113,881 shares of the real estate investment trust’s stock worth $6,027,000 after purchasing an additional 40,569 shares during the last quarter. Finally, KBC Group NV lifted its stake in PotlatchDeltic by 18.4% during the first quarter. KBC Group NV now owns 49,967 shares of the real estate investment trust’s stock worth $2,644,000 after purchasing an additional 7,777 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.
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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