PotlatchDeltic Co. (NASDAQ:PCH) Plans $0.45 Quarterly Dividend

PotlatchDeltic Co. (NASDAQ:PCH) declared a quarterly dividend on Wednesday, August 28th, RTT News reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.45 per share by the real estate investment trust on Monday, September 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Friday, September 13th.

PotlatchDeltic has a dividend payout ratio of 300.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect PotlatchDeltic to earn $0.71 per share next year, which means the company may not be able to cover its $1.80 annual dividend with an expected future payout ratio of 253.5%.

PotlatchDeltic Trading Down 0.2 %

Shares of NASDAQ:PCH opened at $42.55 on Thursday. PotlatchDeltic has a 52-week low of $37.06 and a 52-week high of $50.04. The business has a 50-day moving average price of $41.76 and a 200-day moving average price of $42.65. The company has a quick ratio of 1.00, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 74.65 and a beta of 1.13.

PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. PotlatchDeltic had a net margin of 3.45% and a return on equity of 1.14%. The firm had revenue of $320.70 million during the quarter, compared to analysts’ expectations of $305.01 million. During the same quarter last year, the company posted $0.06 earnings per share. The firm’s revenue was up 30.3% compared to the same quarter last year. Equities analysts predict that PotlatchDeltic will post -0.01 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Truist Financial lowered their target price on PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Bank of America upgraded shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Thursday. Finally, Royal Bank of Canada raised their price target on shares of PotlatchDeltic from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $47.67.

Insiders Place Their Bets

In related news, VP Ashlee Townsend Cribb sold 4,114 shares of the business’s stock in a transaction on Monday, July 29th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by insiders.

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.