PotlatchDeltic (NASDAQ:PCH) Price Target Raised to $50.00

PotlatchDeltic (NASDAQ:PCH) had its price target boosted by Royal Bank of Canada from $46.00 to $50.00 in a research note released on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the real estate investment trust’s stock.

Separately, Truist Financial lowered their price target on shares of PotlatchDeltic from $49.00 to $42.00 and set a hold rating on the stock in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $46.00.

PotlatchDeltic Stock Down 0.2 %

NASDAQ PCH opened at $43.10 on Wednesday. PotlatchDeltic has a twelve month low of $37.06 and a twelve month high of $51.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.12 and a current ratio of 1.29. The stock has a market cap of $3.43 billion, a PE ratio of 75.62, a PEG ratio of 126.26 and a beta of 1.12. The firm has a 50-day simple moving average of $40.90 and a 200 day simple moving average of $43.24.

PotlatchDeltic (NASDAQ:PCH) last announced its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. The company had revenue of $320.70 million during the quarter, compared to the consensus estimate of $305.01 million. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The company’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the company earned $0.06 EPS. On average, research analysts forecast that PotlatchDeltic will post 0.04 EPS for the current year.

PotlatchDeltic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.80 dividend on an annualized basis and a yield of 4.18%. PotlatchDeltic’s payout ratio is currently 315.80%.

Insiders Place Their Bets

In other news, VP Ashlee Townsend Cribb sold 4,114 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $43.11, for a total value of $177,354.54. Following the sale, the vice president now owns 29,039 shares in the company, valued at approximately $1,251,871.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bessemer Group Inc. raised its position in PotlatchDeltic by 370.7% in the 1st quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 556 shares during the last quarter. Independence Bank of Kentucky acquired a new stake in shares of PotlatchDeltic in the second quarter valued at $51,000. Beach Investment Counsel Inc. PA bought a new position in shares of PotlatchDeltic in the second quarter valued at about $59,000. Park Place Capital Corp acquired a new position in PotlatchDeltic during the 2nd quarter worth about $105,000. Finally, Cetera Advisors LLC bought a new stake in PotlatchDeltic during the 1st quarter worth about $203,000. Institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Company Profile

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.