PotlatchDeltic (NASDAQ:PCH) Lifted to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of PotlatchDeltic (NASDAQ:PCH) from a sector perform rating to an outperform rating in a research note released on Wednesday morning, MarketBeat reports. The firm currently has $46.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $45.00.

Separately, Truist Financial lowered their price target on shares of PotlatchDeltic from $51.00 to $49.00 and set a hold rating on the stock in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $50.67.

PotlatchDeltic Stock Up 1.4 %

PCH stock opened at $42.00 on Wednesday. The stock has a market capitalization of $3.34 billion, a PE ratio of 73.69 and a beta of 1.19. The company has a fifty day moving average of $44.44 and a 200-day moving average of $45.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.14 and a current ratio of 1.42. PotlatchDeltic has a one year low of $39.86 and a one year high of $54.44.

PotlatchDeltic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend was Thursday, March 7th. PotlatchDeltic’s dividend payout ratio (DPR) is 315.80%.

Insider Transactions at PotlatchDeltic

In other PotlatchDeltic news, VP Michele Tyler sold 3,968 shares of PotlatchDeltic stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $45.14, for a total transaction of $179,115.52. Following the completion of the transaction, the vice president now owns 31,864 shares in the company, valued at $1,438,340.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other PotlatchDeltic news, VP Michele Tyler sold 3,968 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $45.14, for a total transaction of $179,115.52. Following the completion of the transaction, the vice president now owns 31,864 shares of the company’s stock, valued at $1,438,340.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric J. Cremers sold 17,591 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $45.13, for a total value of $793,881.83. Following the completion of the transaction, the chief executive officer now directly owns 241,111 shares of the company’s stock, valued at $10,881,339.43. The disclosure for this sale can be found here. Insiders sold 23,124 shares of company stock valued at $1,043,626 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its holdings in shares of PotlatchDeltic by 2,132.0% during the third quarter. Manchester Capital Management LLC now owns 558 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 533 shares during the last quarter. Millburn Ridgefield Corp acquired a new stake in PotlatchDeltic in the 3rd quarter worth about $28,000. Fifth Third Bancorp grew its holdings in PotlatchDeltic by 43.8% in the 3rd quarter. Fifth Third Bancorp now owns 1,002 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 305 shares during the period. Planned Solutions Inc. acquired a new position in shares of PotlatchDeltic during the 4th quarter valued at about $60,000. Finally, VitalStone Financial LLC lifted its holdings in shares of PotlatchDeltic by 109.6% during the 3rd quarter. VitalStone Financial LLC now owns 3,608 shares of the real estate investment trust’s stock worth $163,000 after acquiring an additional 1,887 shares during the period. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

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.