PotlatchDeltic (NASDAQ:PCH) Shares Gap Up to $43.34

PotlatchDeltic Co. (NASDAQ:PCH)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $43.34, but opened at $44.53. PotlatchDeltic shares last traded at $44.97, with a volume of 52,550 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PCH shares. Truist Financial reduced their price objective on shares of PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. Royal Bank of Canada raised shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $45.00 to $46.00 in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $44.00.

PotlatchDeltic Price Performance

The stock has a market capitalization of $3.51 billion, a P/E ratio of 77.46, a PEG ratio of 9.83 and a beta of 1.12. The business has a fifty day simple moving average of $40.85 and a 200-day simple moving average of $43.31. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 1.42.

PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The company had revenue of $320.70 million for the quarter, compared to analyst estimates of $305.01 million. PotlatchDeltic had a return on equity of 0.74% and a net margin of 4.58%. PotlatchDeltic’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 earnings per share. Sell-side analysts expect that PotlatchDeltic Co. will post 0.22 earnings per share for the current fiscal year.

PotlatchDeltic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a $0.45 dividend. The ex-dividend date was Friday, June 7th. This represents a $1.80 annualized dividend and a yield of 4.07%. PotlatchDeltic’s dividend payout ratio is currently 315.80%.

Institutional Investors Weigh In On PotlatchDeltic

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its position in PotlatchDeltic by 1.5% during the 4th quarter. Franklin Resources Inc. now owns 27,287 shares of the real estate investment trust’s stock valued at $1,340,000 after buying an additional 395 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of PotlatchDeltic by 0.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 106,448 shares of the real estate investment trust’s stock worth $5,005,000 after purchasing an additional 413 shares during the period. M&T Bank Corp grew its stake in shares of PotlatchDeltic by 0.7% in the fourth quarter. M&T Bank Corp now owns 57,776 shares of the real estate investment trust’s stock worth $2,836,000 after purchasing an additional 423 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in PotlatchDeltic by 2.2% during the 1st quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the real estate investment trust’s stock valued at $1,072,000 after purchasing an additional 500 shares during the period. Finally, State of Michigan Retirement System raised its position in PotlatchDeltic by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 19,531 shares of the real estate investment trust’s stock valued at $918,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 86.06% of the company’s stock.

About PotlatchDeltic

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.