PotlatchDeltic (NASDAQ:PCH) Rating Increased to Outperform at Raymond James

Raymond James upgraded shares of PotlatchDeltic (NASDAQ:PCH) from a market perform rating to an outperform rating in a report released on Monday morning, Marketbeat reports. The brokerage currently has $45.00 target price on the real estate investment trust’s stock.

Several other research firms have also recently weighed in on PCH. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Thursday, September 12th. Truist Financial lifted their price target on shares of PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Royal Bank of Canada restated an “outperform” rating and issued a $50.00 price objective on shares of PotlatchDeltic in a report on Wednesday, October 30th. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, 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 research report on Friday, December 6th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.40.

PotlatchDeltic Trading Down 0.1 %

NASDAQ:PCH opened at $39.54 on Monday. The firm has a market capitalization of $3.11 billion, a P/E ratio of 188.29 and a beta of 1.14. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average of $42.34 and a 200 day moving average of $42.19. PotlatchDeltic has a 52 week low of $37.06 and a 52 week high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.08. The firm had revenue of $255.10 million during the quarter, compared to the consensus estimate of $241.35 million. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 earnings per share. On average, research analysts predict that PotlatchDeltic will post 0.15 earnings per share for the current year.

PotlatchDeltic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Monday, December 16th. PotlatchDeltic’s dividend payout ratio is presently 857.14%.

Hedge Funds Weigh In On PotlatchDeltic

A number of institutional investors and hedge funds have recently made changes to their positions in PCH. Westwood Holdings Group Inc. boosted its position in shares of PotlatchDeltic by 3.6% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,664,242 shares of the real estate investment trust’s stock worth $65,554,000 after purchasing an additional 58,111 shares in the last quarter. Deprince Race & Zollo Inc. boosted its holdings in PotlatchDeltic by 33.0% in the second quarter. Deprince Race & Zollo Inc. now owns 1,227,361 shares of the real estate investment trust’s stock worth $48,346,000 after acquiring an additional 304,352 shares in the last quarter. Adelante Capital Management LLC boosted its holdings in PotlatchDeltic by 3,486.3% in the third quarter. Adelante Capital Management LLC now owns 1,147,262 shares of the real estate investment trust’s stock worth $51,684,000 after acquiring an additional 1,115,272 shares in the last quarter. Curi RMB Capital LLC increased its holdings in shares of PotlatchDeltic by 0.5% during the third quarter. Curi RMB Capital LLC now owns 335,671 shares of the real estate investment trust’s stock valued at $15,122,000 after acquiring an additional 1,578 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of PotlatchDeltic by 29.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 308,946 shares of the real estate investment trust’s stock valued at $13,918,000 after acquiring an additional 69,887 shares in the last quarter. 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.