PotlatchDeltic Co. (NASDAQ:PCH) Short Interest Down 14.6% in December

PotlatchDeltic Co. (NASDAQ:PCH) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 1,110,000 shares, a decrease of 14.6% from the December 15th total of 1,300,000 shares. Based on an average daily volume of 413,000 shares, the days-to-cover ratio is currently 2.7 days.

PotlatchDeltic Stock Performance

Shares of PCH stock traded up $0.49 on Friday, reaching $42.32. The stock had a trading volume of 354,506 shares, compared to its average volume of 423,610. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.24. PotlatchDeltic has a 1 year low of $37.06 and a 1 year high of $48.08. The stock has a market cap of $3.33 billion, a P/E ratio of 201.52 and a beta of 1.16. The company has a 50 day simple moving average of $41.45 and a 200 day simple moving average of $42.14.

PotlatchDeltic (NASDAQ:PCH) last announced its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.08. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The business had revenue of $255.10 million for the quarter, compared to analysts’ expectations of $241.35 million. During the same period last year, the firm posted $0.14 earnings per share. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts expect that PotlatchDeltic will post 0.21 EPS for the current year.

PotlatchDeltic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.25%. The ex-dividend date was Monday, December 16th. PotlatchDeltic’s dividend payout ratio is presently 857.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. BMO Capital Markets upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a report on Friday, December 6th. Raymond James upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Monday, December 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $50.00 price target on shares of PotlatchDeltic in a research note on Wednesday, October 30th. Truist Financial dropped their price objective on PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Finally, Citigroup decreased their target price on PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.83.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PCH. Quest Partners LLC bought a new position in shares of PotlatchDeltic during the 2nd quarter valued at approximately $85,000. Oppenheimer Asset Management Inc. lifted its holdings in PotlatchDeltic by 60.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,414 shares of the real estate investment trust’s stock valued at $292,000 after purchasing an additional 2,799 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of PotlatchDeltic in the second quarter worth approximately $1,479,000. Renaissance Technologies LLC increased its stake in shares of PotlatchDeltic by 2,054.5% in the second quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust’s stock worth $4,053,000 after purchasing an additional 98,123 shares in the last quarter. Finally, Moors & Cabot Inc. raised its position in shares of PotlatchDeltic by 7.1% during the 2nd quarter. Moors & Cabot Inc. now owns 13,189 shares of the real estate investment trust’s stock valued at $520,000 after purchasing an additional 871 shares during the period. 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.