PotlatchDeltic (NASDAQ:PCH) Upgraded at Raymond James

Raymond James upgraded shares of PotlatchDeltic (NASDAQ:PCH) from a market perform rating to an outperform rating in a report released on Monday morning, Marketbeat Ratings reports. Raymond James currently has $45.00 target price on the real estate investment trust’s stock.

Several other research firms also recently commented on PCH. Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 price objective on shares of PotlatchDeltic in a report on Wednesday, October 30th. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. BMO Capital Markets raised shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 target price on the stock in a report on Friday, December 6th. Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Thursday, September 12th. Finally, Truist Financial boosted their price objective on PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.40.

PotlatchDeltic Stock Performance

PCH stock opened at $39.54 on Monday. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The firm has a market cap of $3.11 billion, a PE ratio of 188.29 and a beta of 1.14. The business has a 50 day moving average of $42.34 and a 200-day moving average of $42.19. PotlatchDeltic has a 12-month low of $37.06 and a 12-month high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The firm had revenue of $255.10 million during the quarter, compared to the consensus estimate of $241.35 million. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. As a group, sell-side analysts expect that PotlatchDeltic will post 0.15 earnings per share for the current year.

PotlatchDeltic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.55%. PotlatchDeltic’s dividend payout ratio (DPR) is presently 857.14%.

Institutional Investors Weigh In On PotlatchDeltic

A number of institutional investors and hedge funds have recently bought and sold shares of PCH. Adelante Capital Management LLC raised its position in PotlatchDeltic by 3,486.3% during the third quarter. Adelante Capital Management LLC now owns 1,147,262 shares of the real estate investment trust’s stock valued at $51,684,000 after purchasing an additional 1,115,272 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in shares of PotlatchDeltic by 33.0% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,227,361 shares of the real estate investment trust’s stock valued at $48,346,000 after purchasing an additional 304,352 shares during the last quarter. Heitman Real Estate Securities LLC purchased a new position in shares of PotlatchDeltic during the 3rd quarter valued at about $8,153,000. Ceredex Value Advisors LLC bought a new stake in PotlatchDeltic in the 3rd quarter worth approximately $7,884,000. Finally, NFJ Investment Group LLC purchased a new stake in PotlatchDeltic in the third quarter worth approximately $5,878,000. 86.06% of the stock is owned by hedge funds and other institutional investors.

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.