PotlatchDeltic (NASDAQ:PCH) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of PotlatchDeltic (NASDAQ:PCH) from a hold rating to a sell rating in a research report released on Thursday morning.

A number of other analysts also recently weighed in on PCH. Royal Bank of Canada increased their price target on shares of PotlatchDeltic from $46.00 to $50.00 and gave the company an outperform rating in a research report on Wednesday, July 31st. Truist Financial cut their price target on shares of PotlatchDeltic from $49.00 to $42.00 and set a hold rating on the stock in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $46.00.

PotlatchDeltic Stock Performance

Shares of NASDAQ:PCH opened at $43.10 on Thursday. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 75.62, a P/E/G ratio of 126.26 and a beta of 1.12. The firm’s 50 day simple moving average is $40.90 and its 200 day simple moving average is $43.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.12. PotlatchDeltic has a fifty-two week low of $37.06 and a fifty-two week high of $51.71.

PotlatchDeltic (NASDAQ:PCH) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $320.70 million for the quarter, compared to the consensus estimate of $305.01 million. PotlatchDeltic had a net margin of 3.45% and a return on equity of 1.14%. PotlatchDeltic’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period last year, the company posted $0.06 EPS. As a group, sell-side analysts forecast that PotlatchDeltic will post 0.04 earnings per share for the current year.

PotlatchDeltic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, June 7th. This represents a $1.80 annualized dividend and a yield of 4.18%. PotlatchDeltic’s dividend payout ratio (DPR) is currently 315.80%.

Insiders Place Their Bets

In other news, VP Ashlee Townsend Cribb sold 4,114 shares of PotlatchDeltic stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $43.11, for a total value of $177,354.54. Following the sale, the vice president now directly owns 29,039 shares in the company, valued at $1,251,871.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of PotlatchDeltic

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System bought a new position in shares of PotlatchDeltic in the fourth quarter valued at $1,095,000. Russell Investments Group Ltd. grew its stake in shares of PotlatchDeltic by 353.2% in the first quarter. Russell Investments Group Ltd. now owns 455,008 shares of the real estate investment trust’s stock valued at $21,394,000 after buying an additional 354,616 shares in the last quarter. Sei Investments Co. grew its stake in shares of PotlatchDeltic by 47.7% in the first quarter. Sei Investments Co. now owns 119,049 shares of the real estate investment trust’s stock valued at $5,598,000 after buying an additional 38,461 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of PotlatchDeltic by 0.5% in the first quarter. Vanguard Group Inc. now owns 11,736,374 shares of the real estate investment trust’s stock valued at $551,844,000 after buying an additional 57,237 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of PotlatchDeltic in the fourth quarter valued at $1,292,000. 86.06% of the stock is currently owned by institutional investors and hedge funds.

About PotlatchDeltic

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.