BidaskClub downgraded shares of Potlatchdeltic (NASDAQ:PCH) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday.
Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Potlatchdeltic from a strong sell rating to a hold rating in a research note on Tuesday, June 26th. ValuEngine cut Potlatchdeltic from a hold rating to a sell rating in a research note on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $50.83.
Potlatchdeltic stock opened at $36.53 on Wednesday. Potlatchdeltic has a 1-year low of $35.10 and a 1-year high of $56.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.40 and a current ratio of 3.21. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10.
Potlatchdeltic (NASDAQ:PCH) last posted its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.14. Potlatchdeltic had a return on equity of 18.57% and a net margin of 12.72%. The company had revenue of $268.20 million for the quarter, compared to analysts’ expectations of $271.88 million. During the same period last year, the firm earned $0.59 earnings per share. Potlatchdeltic’s quarterly revenue was up 64.3% on a year-over-year basis. As a group, analysts anticipate that Potlatchdeltic will post 2.94 earnings per share for the current fiscal year.
Potlatchdeltic announced that its board has authorized a share buyback plan on Thursday, August 30th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a special dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, September 27th will be paid a $3.54 dividend. This represents a yield of 3.31%. The ex-dividend date of this dividend is Thursday, September 13th. Potlatchdeltic’s dividend payout ratio is presently 67.80%.
In other news, VP Lorrie D. Scott sold 1,500 shares of Potlatchdeltic stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $47.06, for a total transaction of $70,590.00. Following the sale, the vice president now owns 14,586 shares in the company, valued at $686,417.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Bridgewater Associates LP acquired a new stake in shares of Potlatchdeltic during the second quarter worth about $438,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Potlatchdeltic during the second quarter worth about $171,000. Oregon Public Employees Retirement Fund increased its position in shares of Potlatchdeltic by 52.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 23,336 shares of the real estate investment trust’s stock worth $1,187,000 after purchasing an additional 8,052 shares in the last quarter. BlackRock Inc. increased its position in shares of Potlatchdeltic by 4.7% during the second quarter. BlackRock Inc. now owns 7,871,103 shares of the real estate investment trust’s stock worth $400,243,000 after purchasing an additional 354,166 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Potlatchdeltic by 8.4% during the second quarter. First Trust Advisors LP now owns 29,983 shares of the real estate investment trust’s stock worth $1,525,000 after purchasing an additional 2,322 shares in the last quarter. Institutional investors and hedge funds own 83.52% of the company’s stock.
PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 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 medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland sales program.
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