Seaport Res Ptn Weighs in on PotlatchDeltic Co.’s Q1 2024 Earnings (NASDAQ:PCH)

PotlatchDeltic Co. (NASDAQ:PCH) – Investment analysts at Seaport Res Ptn issued their Q1 2024 earnings per share (EPS) estimates for shares of PotlatchDeltic in a note issued to investors on Monday, April 15th. Seaport Res Ptn analyst M. Weintraub expects that the real estate investment trust will post earnings of ($0.05) per share for the quarter. The consensus estimate for PotlatchDeltic’s current full-year earnings is $0.66 per share. Seaport Res Ptn also issued estimates for PotlatchDeltic’s Q2 2024 earnings at $0.05 EPS.

PCH has been the subject of several other reports. Truist Financial lowered their price objective on PotlatchDeltic from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Wednesday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $48.00 price objective on shares of PotlatchDeltic in a research report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.33.

PotlatchDeltic Trading Down 1.0 %

NASDAQ:PCH opened at $40.75 on Thursday. The stock has a 50-day simple moving average of $45.12 and a 200-day simple moving average of $45.82. The stock has a market cap of $3.24 billion, a P/E ratio of 52.92 and a beta of 1.15. PotlatchDeltic has a 1 year low of $40.65 and a 1 year high of $54.44. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.14 and a current ratio of 1.44.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in PotlatchDeltic in the fourth quarter valued at about $150,557,000. Vanguard Group Inc. raised its position in PotlatchDeltic by 14.5% in the third quarter. Vanguard Group Inc. now owns 11,820,414 shares of the real estate investment trust’s stock valued at $485,110,000 after purchasing an additional 1,497,553 shares during the period. Price T Rowe Associates Inc. MD raised its position in PotlatchDeltic by 674.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,166,421 shares of the real estate investment trust’s stock valued at $57,739,000 after purchasing an additional 1,015,905 shares during the period. State Street Corp raised its position in PotlatchDeltic by 19.3% in the third quarter. State Street Corp now owns 2,607,726 shares of the real estate investment trust’s stock valued at $107,021,000 after purchasing an additional 421,565 shares during the period. Finally, Geode Capital Management LLC raised its position in PotlatchDeltic by 20.9% in the first quarter. Geode Capital Management LLC now owns 2,093,061 shares of the real estate investment trust’s stock valued at $103,606,000 after purchasing an additional 361,983 shares during the period. 86.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PotlatchDeltic

In other news, CFO Wayne Wasechek sold 1,565 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $45.13, for a total transaction of $70,628.45. Following the completion of the transaction, the chief financial officer now directly owns 21,247 shares of the company’s stock, valued at approximately $958,877.11. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Wayne Wasechek sold 1,565 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $45.13, for a total value of $70,628.45. Following the sale, the chief financial officer now owns 21,247 shares in the company, valued at approximately $958,877.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michele Tyler sold 3,968 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.14, for a total value of $179,115.52. Following the sale, the vice president now owns 31,864 shares in the company, valued at approximately $1,438,340.96. The disclosure for this sale can be found here. In the last three months, insiders sold 23,124 shares of company stock valued at $1,043,626. Corporate insiders own 2.00% of the company’s stock.

PotlatchDeltic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend was Thursday, March 7th. PotlatchDeltic’s dividend payout ratio (DPR) is 233.77%.

PotlatchDeltic Company Profile

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.