PotlatchDeltic (NASDAQ:PCH) Shares Down 5.9% – Here’s What Happened

Shares of PotlatchDeltic Co. (NASDAQ:PCH) were down 5.9% on Tuesday . The company traded as low as $39.72 and last traded at $39.81. Approximately 209,236 shares traded hands during trading, a decline of 51% from the average daily volume of 431,376 shares. The stock had previously closed at $42.30.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PCH. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Bank of America upgraded shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Thursday, September 12th. Finally, Truist Financial boosted their price objective on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.67.

PotlatchDeltic Stock Down 1.2 %

The firm’s 50 day simple moving average is $43.60 and its 200 day simple moving average is $42.22. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 198.62 and a beta of 1.13. The company has a quick ratio of 1.00, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

PotlatchDeltic (NASDAQ:PCH) last announced its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.08. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The firm had revenue of $255.10 million for the quarter, compared to the consensus estimate of $241.35 million. During the same quarter in the previous year, the business earned $0.14 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. Sell-side analysts anticipate that PotlatchDeltic Co. will post 0.01 EPS for the current fiscal year.

PotlatchDeltic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $0.45 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.80 dividend on an annualized basis and a yield of 4.33%. PotlatchDeltic’s dividend payout ratio is presently 857.14%.

Institutional Trading of PotlatchDeltic

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. raised its stake in shares of PotlatchDeltic by 370.7% in the 1st quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 556 shares in the last quarter. Independence Bank of Kentucky acquired a new position in PotlatchDeltic during the second quarter worth about $51,000. Beach Investment Counsel Inc. PA bought a new stake in PotlatchDeltic in the second quarter worth about $59,000. Quarry LP acquired a new stake in PotlatchDeltic in the 2nd quarter valued at about $82,000. Finally, Quest Partners LLC bought a new position in shares of PotlatchDeltic during the 2nd quarter valued at about $85,000. 86.06% of the stock is currently owned by institutional investors.

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.