Truist Financial Raises PotlatchDeltic (NASDAQ:PCH) Price Target to $45.00

PotlatchDeltic (NASDAQ:PCH) had its price objective hoisted by Truist Financial from $42.00 to $45.00 in a research note released on Tuesday morning, Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

A number of other research firms also recently weighed in on PCH. StockNews.com raised shares of PotlatchDeltic from a sell rating to a hold rating in a research report on Friday, August 9th. Royal Bank of Canada raised their price objective on shares of PotlatchDeltic from $46.00 to $50.00 and gave the stock an outperform rating in a report on Wednesday, July 31st. Finally, Bank of America raised shares of PotlatchDeltic from a neutral rating to a buy rating and set a $51.00 target price for the company in a research report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $48.67.

PotlatchDeltic Stock Performance

Shares of PCH stock opened at $43.76 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.00. The company’s fifty day moving average price is $43.34 and its two-hundred day moving average price is $42.41. The firm has a market capitalization of $3.48 billion, a P/E ratio of 76.77 and a beta of 1.13. PotlatchDeltic has a 12 month low of $37.06 and a 12 month high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.17 EPS for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $305.01 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The company’s revenue was up 30.3% compared to the same quarter last year. On average, research analysts anticipate that PotlatchDeltic will post 0.02 earnings per share for the current fiscal year.

PotlatchDeltic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Friday, September 13th. PotlatchDeltic’s dividend payout ratio is presently 315.79%.

Insiders Place Their Bets

In other news, VP Ashlee Townsend Cribb sold 4,114 shares of PotlatchDeltic stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $43.11, for a total value of $177,354.54. Following the completion of the transaction, the vice president now directly owns 29,039 shares of the company’s stock, valued at approximately $1,251,871.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning increased its holdings in shares of PotlatchDeltic by 13.6% in the 3rd quarter. Creative Planning now owns 5,835 shares of the real estate investment trust’s stock worth $263,000 after acquiring an additional 699 shares during the period. Procyon Advisors LLC acquired a new stake in shares of PotlatchDeltic in the third quarter valued at approximately $303,000. Azzad Asset Management Inc. ADV raised its holdings in shares of PotlatchDeltic by 3.6% during the third quarter. Azzad Asset Management Inc. ADV now owns 16,456 shares of the real estate investment trust’s stock valued at $741,000 after buying an additional 570 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of PotlatchDeltic by 41.9% during the third quarter. Handelsbanken Fonder AB now owns 24,743 shares of the real estate investment trust’s stock worth $1,115,000 after buying an additional 7,300 shares during the period. Finally, SG Americas Securities LLC grew its holdings in PotlatchDeltic by 50.6% in the 3rd quarter. SG Americas Securities LLC now owns 6,669 shares of the real estate investment trust’s stock worth $300,000 after buying an additional 2,242 shares in the last quarter. Institutional investors and hedge funds 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.