Royal Bank of Canada reissued their outperform rating on shares of PotlatchDeltic (NASDAQ:PCH – Free Report) in a research report released on Wednesday, Benzinga reports. Royal Bank of Canada currently has a $50.00 price target on the real estate investment trust’s stock.
Other equities analysts also recently issued reports about the stock. StockNews.com upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Bank of America upgraded shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Thursday, September 12th. Finally, Truist Financial upped their price objective on shares of PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $48.67.
View Our Latest Stock Report on PCH
PotlatchDeltic Price Performance
PotlatchDeltic (NASDAQ:PCH – Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The company had revenue of $255.10 million for the quarter, compared to the consensus estimate of $241.35 million. PotlatchDeltic had a net margin of 3.45% and a return on equity of 1.14%. The firm’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share. Equities research analysts anticipate that PotlatchDeltic will post 0.01 earnings per share for the current fiscal year.
PotlatchDeltic Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.80 annualized dividend and a yield of 4.28%. PotlatchDeltic’s dividend payout ratio is 391.31%.
Institutional Investors Weigh In On PotlatchDeltic
Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its position in PotlatchDeltic by 353.2% during the first quarter. Russell Investments Group Ltd. now owns 455,008 shares of the real estate investment trust’s stock worth $21,394,000 after purchasing an additional 354,616 shares during the period. Sei Investments Co. lifted its holdings 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 worth $5,598,000 after acquiring an additional 38,461 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 worth $551,844,000 after acquiring an additional 57,237 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of PotlatchDeltic by 2,054.5% in the second quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust’s stock worth $4,053,000 after acquiring an additional 98,123 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its holdings in shares of PotlatchDeltic by 327.6% in the first quarter. Edgestream Partners L.P. now owns 54,146 shares of the real estate investment trust’s stock worth $2,546,000 after acquiring an additional 41,483 shares during 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.
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