PotlatchDeltic Co. (NASDAQ:PCH) Receives $57.60 Consensus Target Price from Brokerages

PotlatchDeltic Co. (NASDAQ:PCHGet Rating) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $57.60.

Several research firms recently weighed in on PCH. Truist Financial lifted their price objective on shares of PotlatchDeltic to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. StockNews.com lowered shares of PotlatchDeltic from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. DA Davidson cut their price target on shares of PotlatchDeltic from $66.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, June 27th. Raymond James cut their price objective on shares of PotlatchDeltic from $70.00 to $65.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, August 16th. Finally, Bank of America cut their price objective on shares of PotlatchDeltic from $55.00 to $53.00 and set a “neutral” rating on the stock in a research report on Tuesday.

PotlatchDeltic Stock Down 0.9 %

PotlatchDeltic stock opened at $41.43 on Tuesday. The company’s 50 day simple moving average is $46.77 and its 200 day simple moving average is $49.82. PotlatchDeltic has a fifty-two week low of $41.27 and a fifty-two week high of $61.51. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 7.37 and a beta of 1.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.20 and a quick ratio of 3.78.

PotlatchDeltic (NASDAQ:PCHGet Rating) last released its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.26. PotlatchDeltic had a net margin of 29.77% and a return on equity of 23.13%. The business had revenue of $359.60 million for the quarter, compared to analyst estimates of $341.42 million. During the same quarter last year, the firm earned $2.77 EPS. PotlatchDeltic’s quarterly revenue was down 19.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that PotlatchDeltic will post 5.22 EPS for the current year.

PotlatchDeltic declared that its board has approved a stock buyback plan on Wednesday, August 31st that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

PotlatchDeltic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Tuesday, September 20th will be issued a dividend of $0.44 per share. The ex-dividend date is Monday, September 19th. This represents a $1.76 dividend on an annualized basis and a yield of 4.25%. PotlatchDeltic’s payout ratio is 31.32%.

Hedge Funds Weigh In On PotlatchDeltic

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of PotlatchDeltic by 3.1% in the first quarter. Vanguard Group Inc. now owns 10,503,075 shares of the real estate investment trust’s stock valued at $553,827,000 after purchasing an additional 319,445 shares during the last quarter. BlackRock Inc. boosted its position in shares of PotlatchDeltic by 3.0% in the first quarter. BlackRock Inc. now owns 8,962,038 shares of the real estate investment trust’s stock valued at $472,566,000 after acquiring an additional 258,490 shares during the period. State Street Corp boosted its position in shares of PotlatchDeltic by 1.4% in the second quarter. State Street Corp now owns 2,186,161 shares of the real estate investment trust’s stock valued at $96,606,000 after acquiring an additional 31,024 shares during the period. Legal & General Group Plc boosted its position in shares of PotlatchDeltic by 7.4% in the fourth quarter. Legal & General Group Plc now owns 1,433,955 shares of the real estate investment trust’s stock valued at $86,353,000 after acquiring an additional 99,263 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of PotlatchDeltic by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,392,574 shares of the real estate investment trust’s stock valued at $83,860,000 after acquiring an additional 27,369 shares during the period. 80.72% of the stock is currently owned by institutional investors and hedge funds.

PotlatchDeltic Company Profile

(Get Rating)

PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns 1.8 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. 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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Analyst Recommendations for PotlatchDeltic (NASDAQ:PCH)

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