PotlatchDeltic (NASDAQ:PCH) Price Target Cut to $55.00 by Analysts at DA Davidson

PotlatchDeltic (NASDAQ:PCH – Get Rating) had its price target decreased by DA Davidson from $57.00 to $55.00 in a research report released on Tuesday, The Fly reports. DA Davidson currently has a buy rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on the stock. StockNews.com initiated coverage on shares of PotlatchDeltic in a research note on Wednesday, October 12th. They issued a hold rating on the stock. Royal Bank of Canada raised shares of PotlatchDeltic from a sector perform rating to an outperform rating and raised their target price for the company from $50.00 to $55.00 in a research note on Tuesday, October 18th. Finally, Bank of America lifted their price target on shares of PotlatchDeltic from $53.00 to $55.00 in a research note on Thursday, October 13th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $56.20.

PotlatchDeltic Price Performance

PCH stock opened at $46.17 on Tuesday. The firm has a 50 day moving average of $45.69 and a 200-day moving average of $45.50. The company has a current ratio of 3.99, a quick ratio of 3.59 and a debt-to-equity ratio of 0.41. PotlatchDeltic has a 12 month low of $39.10 and a 12 month high of $58.13. The firm has a market capitalization of $3.73 billion, a P/E ratio of 8.73 and a beta of 1.14.

PotlatchDeltic (NASDAQ:PCH – Get Rating) last announced its earnings results on Monday, October 24th. The real estate investment trust reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. The business had revenue of $306.69 million for the quarter, compared to the consensus estimate of $298.09 million. PotlatchDeltic had a net margin of 27.84% and a return on equity of 20.34%. PotlatchDeltic’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm posted $0.92 earnings per share. As a group, sell-side analysts predict that PotlatchDeltic will post 4.94 earnings per share for the current fiscal year.

PotlatchDeltic Cuts Dividend

The company also recently announced a special dividend, which was paid on Friday, December 30th. Investors of record on Wednesday, December 21st were paid a $0.95 dividend. This represents a dividend yield of 4%. The ex-dividend date was Tuesday, December 20th. PotlatchDeltic’s payout ratio is 34.03%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PCH. Accel Wealth Management purchased a new position in shares of PotlatchDeltic in the third quarter worth $27,000. Quadrant Capital Group LLC increased its stake in shares of PotlatchDeltic by 289.8% in the third quarter. Quadrant Capital Group LLC now owns 877 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 652 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of PotlatchDeltic by 50.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 900 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 300 shares during the period. Ronald Blue Trust Inc. increased its stake in shares of PotlatchDeltic by 219.4% in the fourth quarter. Ronald Blue Trust Inc. now owns 990 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 680 shares during the period. Finally, Wipfli Financial Advisors LLC purchased a new position in shares of PotlatchDeltic in the third quarter worth $43,000. 80.36% of the stock is owned by hedge funds and other institutional investors.

About PotlatchDeltic

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PotlatchDeltic Corp. operates as a real estate investment trust. The firm engages in the ownership and management of acres of timberlands. It operates through the following segments: Timberlands, Wood Products and Real Estate. The Timberland segment sells delivered logs, pulpwood, sawlogs, and stumpage.