Potlatchdeltic (NASDAQ:PCH) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.08), MarketWatch Earnings reports. The business had revenue of $289.20 million for the quarter, compared to the consensus estimate of $288.27 million. Potlatchdeltic had a return on equity of 18.57% and a net margin of 12.72%. Potlatchdeltic’s revenue was up 51.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share.
NASDAQ PCH opened at $36.74 on Tuesday. The company has a market capitalization of $2.15 billion, a PE ratio of 15.57, a P/E/G ratio of 2.34 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.21 and a quick ratio of 2.40. Potlatchdeltic has a 12 month low of $33.09 and a 12 month high of $55.75.
The business also recently disclosed a special dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, September 27th will be issued a $3.54 dividend. This represents a dividend yield of 3.31%. The ex-dividend date is Thursday, September 13th. Potlatchdeltic’s payout ratio is presently 67.80%.
Potlatchdeltic announced that its board has approved a stock repurchase plan on Thursday, August 30th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, VP Lorrie D. Scott sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $47.06, for a total value of $70,590.00. Following the completion of the sale, the vice president now owns 14,586 shares of the company’s stock, valued at approximately $686,417.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.00% of the company’s stock.
PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland sales program.
Read More: What are Closed-End Mutual Funds?
Receive News & Ratings for Potlatchdeltic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Potlatchdeltic and related companies with MarketBeat.com's FREE daily email newsletter.