Royal Bank of Canada Reaffirms Outperform Rating for PotlatchDeltic (NASDAQ:PCH)

Royal Bank of Canada reaffirmed their outperform rating on shares of PotlatchDeltic (NASDAQ:PCH) in a research report report published on Wednesday, Benzinga reports. Royal Bank of Canada currently has a $50.00 price target on the real estate investment trust’s stock.

Several other equities research analysts also recently weighed in on PCH. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Truist Financial upped their target price on shares of PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Finally, Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Thursday, September 12th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, PotlatchDeltic currently has a consensus rating of “Hold” and a consensus price target of $48.67.

PotlatchDeltic Stock Up 0.6 %

Shares of NASDAQ:PCH opened at $41.81 on Wednesday. The firm has a market capitalization of $3.30 billion, a PE ratio of 199.10 and a beta of 1.13. PotlatchDeltic has a 1 year low of $37.06 and a 1 year high of $50.04. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 1.00. The firm’s 50-day moving average is $43.56 and its two-hundred day moving average is $42.20.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The company 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 earned $0.14 earnings per share. PotlatchDeltic’s quarterly revenue was down 3.9% on a year-over-year basis. Analysts predict that PotlatchDeltic will post 0.01 EPS for the current year.

PotlatchDeltic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.80 dividend on an annualized basis and a yield of 4.31%. PotlatchDeltic’s payout ratio is currently 857.14%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its holdings in PotlatchDeltic by 370.7% in the first quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 556 shares during the last quarter. Independence Bank of Kentucky bought a new position in PotlatchDeltic in the second quarter worth about $51,000. Beach Investment Counsel Inc. PA bought a new position in shares of PotlatchDeltic during the second quarter valued at approximately $59,000. Quarry LP bought a new stake in shares of PotlatchDeltic in the 2nd quarter worth approximately $82,000. Finally, Quest Partners LLC acquired a new position in PotlatchDeltic during the 2nd quarter valued at approximately $85,000. 86.06% of the stock is currently owned by institutional investors.

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.