Brokers Issue Forecasts for PotlatchDeltic FY2024 Earnings

PotlatchDeltic Co. (NASDAQ:PCH) – Equities researchers at Seaport Res Ptn issued their FY2024 earnings per share (EPS) estimates for PotlatchDeltic in a research note issued to investors on Wednesday, October 30th. Seaport Res Ptn analyst M. Weintraub forecasts that the real estate investment trust will earn $0.22 per share for the year. The consensus estimate for PotlatchDeltic’s current full-year earnings is $0.11 per share. Seaport Res Ptn also issued estimates for PotlatchDeltic’s Q4 2024 earnings at $0.01 EPS and FY2025 earnings at $1.00 EPS.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The firm had revenue of $255.10 million for the quarter, compared to the consensus estimate of $241.35 million. During the same quarter in the previous year, the company earned $0.14 EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis.

A number of other research analysts also recently issued reports on the company. Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Thursday, September 12th. StockNews.com lowered shares of PotlatchDeltic from a “hold” rating to a “sell” rating in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 price objective on shares of PotlatchDeltic in a report on Wednesday, October 30th. Finally, Truist Financial boosted their target price on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, PotlatchDeltic currently has an average rating of “Hold” and a consensus price target of $48.67.

PotlatchDeltic Price Performance

PCH stock opened at $42.30 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 202.10 and a beta of 1.14. The company’s fifty day simple moving average is $43.54 and its 200 day simple moving average is $42.22. PotlatchDeltic has a 12-month low of $37.06 and a 12-month high of $50.04.

PotlatchDeltic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.26%. PotlatchDeltic’s dividend payout ratio is presently 857.14%.

Institutional Investors Weigh In On PotlatchDeltic

Institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. grew its position in PotlatchDeltic by 370.7% during the first quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 556 shares during the period. Independence Bank of Kentucky purchased a new stake in shares of PotlatchDeltic during the 2nd quarter worth approximately $51,000. Beach Investment Counsel Inc. PA bought a new stake in shares of PotlatchDeltic in the 2nd quarter worth approximately $59,000. Quarry LP purchased a new position in PotlatchDeltic in the second quarter valued at approximately $82,000. Finally, Quest Partners LLC bought a new position in PotlatchDeltic during the second quarter valued at $85,000. Institutional investors own 86.06% of the company’s stock.

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.