DA Davidson upgraded shares of Potlatchdeltic (NASDAQ:PCH) from a neutral rating to a buy rating in a report released on Tuesday, MarketBeat.com reports. The firm currently has $50.00 price target on the real estate investment trust’s stock, down from their previous price target of $52.00. DA Davidson also issued estimates for Potlatchdeltic’s Q4 2018 earnings at $0.06 EPS, FY2018 earnings at $2.42 EPS, Q1 2019 earnings at $0.28 EPS, Q2 2019 earnings at $0.46 EPS, Q3 2019 earnings at $0.61 EPS, Q4 2019 earnings at $0.35 EPS and FY2019 earnings at $1.71 EPS. The analysts noted that the move was a valuation call.
Several other analysts have also recently weighed in on PCH. BidaskClub raised shares of Potlatchdeltic from a strong sell rating to a sell rating in a research note on Friday, August 17th. ValuEngine raised shares of Potlatchdeltic from a strong sell rating to a sell rating in a research note on Monday, October 29th. Finally, Zacks Investment Research raised shares of Potlatchdeltic from a hold rating to a buy rating and set a $57.00 price target for the company in a research note on Wednesday, July 11th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $51.00.
PCH stock opened at $37.13 on Tuesday. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 2.74 and a beta of 1.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 2.40. Potlatchdeltic has a 12 month low of $33.09 and a 12 month high of $55.75.
Potlatchdeltic (NASDAQ:PCH) last posted its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.01). Potlatchdeltic had a net margin of 14.23% and a return on equity of 15.77%. The firm had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $288.27 million. During the same period last year, the company earned $0.82 EPS. The business’s quarterly revenue was up 51.9% on a year-over-year basis. On average, sell-side analysts expect that Potlatchdeltic will post 2.65 earnings per share for the current year.
The business also recently disclosed a special dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, September 27th will be given a dividend of $3.54 per share. The ex-dividend date is Thursday, September 13th. This represents a dividend yield of 3.31%. Potlatchdeltic’s payout ratio is currently 67.80%.
Potlatchdeltic declared that its board has authorized a share buyback program on Thursday, August 30th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the real estate investment trust to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
Several large investors have recently bought and sold shares of PCH. Dimensional Fund Advisors LP purchased a new position in shares of Potlatchdeltic during the 1st quarter worth approximately $18,183,000. UBS Group AG boosted its position in shares of Potlatchdeltic by 41.0% during the 1st quarter. UBS Group AG now owns 28,086 shares of the real estate investment trust’s stock worth $1,462,000 after purchasing an additional 8,167 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Potlatchdeltic by 43.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 138,425 shares of the real estate investment trust’s stock worth $7,205,000 after purchasing an additional 41,598 shares during the period. California State Teachers Retirement System boosted its position in shares of Potlatchdeltic by 43.7% during the 1st quarter. California State Teachers Retirement System now owns 91,692 shares of the real estate investment trust’s stock worth $4,773,000 after purchasing an additional 27,893 shares during the period. Finally, Guggenheim Capital LLC boosted its position in shares of Potlatchdeltic by 33.4% during the 1st quarter. Guggenheim Capital LLC now owns 67,053 shares of the real estate investment trust’s stock worth $3,488,000 after purchasing an additional 16,788 shares during the period. 83.51% of the stock is owned by hedge funds and other institutional investors.
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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