PotlatchDeltic (NASDAQ:PCH) Upgraded to Strong-Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of PotlatchDeltic (NASDAQ:PCH) from a strong sell rating to a strong-buy rating in a report released on Wednesday, Zacks.com reports. They currently have $66.00 price objective on the real estate investment trust’s stock.

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. “

Separately, DA Davidson raised shares of PotlatchDeltic from a neutral rating to a buy rating in a research report on Wednesday, October 6th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, PotlatchDeltic has a consensus rating of Buy and an average price target of $65.50.

Shares of PotlatchDeltic stock opened at $57.10 on Wednesday. The firm has a fifty day simple moving average of $57.59 and a 200-day simple moving average of $54.39. The company has a current ratio of 5.20, a quick ratio of 4.69 and a debt-to-equity ratio of 0.43. PotlatchDeltic has a 1-year low of $46.94 and a 1-year high of $65.67. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 7.97 and a beta of 1.25.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings data on Sunday, October 24th. The real estate investment trust reported $0.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. PotlatchDeltic had a net margin of 33.98% and a return on equity of 31.81%. The business had revenue of $287.33 million during the quarter, compared to analysts’ expectations of $275.77 million. During the same period in the previous year, the company earned $1.20 earnings per share. PotlatchDeltic’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, research analysts predict that PotlatchDeltic will post 6.18 earnings per share for the current year.

The business also recently announced a special dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 22nd were given a dividend of $4.00 per share. The ex-dividend date of this dividend was Tuesday, December 14th. This represents a yield of 2.8%. This is a positive change from PotlatchDeltic’s previous special dividend of $3.54. PotlatchDeltic’s payout ratio is 24.58%.

A number of institutional investors have recently made changes to their positions in PCH. Advisor Group Holdings Inc. increased its holdings in PotlatchDeltic by 41.2% in the 2nd quarter. Advisor Group Holdings Inc. now owns 14,840 shares of the real estate investment trust’s stock valued at $790,000 after buying an additional 4,330 shares during the period. Envestnet Asset Management Inc. increased its holdings in PotlatchDeltic by 170.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 11,280 shares of the real estate investment trust’s stock valued at $600,000 after buying an additional 7,105 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in PotlatchDeltic by 467.1% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 9,766 shares of the real estate investment trust’s stock valued at $519,000 after buying an additional 8,044 shares during the period. WINTON GROUP Ltd bought a new stake in PotlatchDeltic in the 2nd quarter valued at $241,000. Finally, Rafferty Asset Management LLC bought a new stake in PotlatchDeltic in the 2nd quarter valued at $285,000. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

About PotlatchDeltic

PotlatchDeltic Corp. operates as a real estate investment trust. The firm engages in the ownership and management of acres of timberlands. It operates through the following segments: Timberlands, Wood Products and Real Estate. The Timberland segment sells delivered logs, pulpwood, sawlogs, and stumpage.

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