PotlatchDeltic Co. Declares Quarterly Dividend of $0.45 (NASDAQ:PCH)

PotlatchDeltic Co. (NASDAQ:PCH) declared a quarterly dividend on Wednesday, August 28th, RTT News reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.45 per share by the real estate investment trust on Monday, September 30th. This represents a $1.80 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Friday, September 13th.

PotlatchDeltic has a payout ratio of 300.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect PotlatchDeltic to earn $0.71 per share next year, which means the company may not be able to cover its $1.80 annual dividend with an expected future payout ratio of 253.5%.

PotlatchDeltic Stock Down 0.2 %

Shares of PCH stock opened at $42.55 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. PotlatchDeltic has a 12 month low of $37.06 and a 12 month high of $50.04. The stock has a market cap of $3.38 billion, a P/E ratio of 74.65 and a beta of 1.13. The company has a 50 day simple moving average of $41.76 and a two-hundred day simple moving average of $42.65.

PotlatchDeltic (NASDAQ:PCH) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The business had revenue of $320.70 million during the quarter, compared to analyst estimates of $305.01 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. PotlatchDeltic’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, research analysts expect that PotlatchDeltic will post -0.01 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Ashlee Townsend Cribb sold 4,114 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $43.11, for a total transaction of $177,354.54. Following the transaction, the vice president now directly owns 29,039 shares in the company, valued at approximately $1,251,871.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PCH. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Thursday. Royal Bank of Canada lifted their price objective 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. Finally, Truist Financial dropped their target price on shares of PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, PotlatchDeltic has an average rating of “Hold” and a consensus price target of $47.67.

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.