According to Zacks, “Potlatch Corporation is a Real Estate Investment Trust (REIT) with the acres of timberland in Alabama, Arkansas, Idaho, Minnesota and Mississippi. Potlatch, a certified forest practices leader, is committed to providing superior returns to stockholders through long-term stewardship of its forest resources. The company also conducts a land sales and development business and operates wood products manufacturing facilities through its taxable REIT subsidiary. “
Several other analysts have also issued reports on PCH. Seaport Global Securities started coverage on Weyerhaeuser in a research note on Tuesday, April 2nd. They issued a buy rating on the stock. Bank of America restated a neutral rating and issued a $105.00 price objective (up previously from $95.00) on shares of Childrens Place in a research note on Friday, April 5th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. BidaskClub lowered Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, June 26th. Finally, Vertical Research lowered Potlatchdeltic from a buy rating to a hold rating and set a $39.00 price objective on the stock. in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $43.48.
Potlatchdeltic (NASDAQ:PCH) last released its quarterly earnings data on Monday, April 29th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04. The firm had revenue of $181.72 million for the quarter, compared to analyst estimates of $179.89 million. Potlatchdeltic had a return on equity of 8.66% and a net margin of 12.01%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. On average, equities research analysts forecast that Potlatchdeltic will post 0.93 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.20%. Potlatchdeltic’s dividend payout ratio (DPR) is currently 70.18%.
In other news, Director John S. Moody sold 1,781 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $33.68, for a total transaction of $59,984.08. Following the transaction, the director now owns 2,617 shares in the company, valued at $88,140.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PCH. Penserra Capital Management LLC bought a new position in shares of Potlatchdeltic during the first quarter worth approximately $29,000. Advisor Group Inc. increased its stake in shares of Potlatchdeltic by 107.8% during the fourth quarter. Advisor Group Inc. now owns 1,253 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 650 shares during the period. American Research & Management Co. bought a new position in shares of Potlatchdeltic during the first quarter worth approximately $57,000. First Interstate Bank increased its stake in shares of Potlatchdeltic by 319.8% during the first quarter. First Interstate Bank now owns 2,166 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 1,650 shares during the period. Finally, Pearl River Capital LLC bought a new position in shares of Potlatchdeltic during the first quarter worth approximately $84,000. Institutional investors own 87.67% of the company’s stock.
Potlatchdeltic Company Profile
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.
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