A number of other research firms have also recently issued reports on PCH. Zacks Investment Research cut Inflarx from a buy rating to a hold rating in a report on Friday, May 3rd. Vertical Research cut Potlatchdeltic from a buy rating to a hold rating and set a $39.00 price objective for the company. in a report on Friday, April 12th. BMO Capital Markets cut MDC Partners from an outperform rating to a market perform rating and set a $2.53 price objective for the company. in a report on Monday, March 11th. Bank of America restated a neutral rating and set a $105.00 price objective (up previously from $95.00) on shares of Childrens Place in a report on Friday, April 5th. Finally, Seaport Global Securities began coverage on Weyerhaeuser in a research report on Tuesday, April 2nd. They set a buy rating for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Potlatchdeltic has an average rating of Buy and a consensus target price of $43.48.
NASDAQ PCH traded up $0.06 during trading on Thursday, hitting $38.73. 321,115 shares of the stock traded hands, compared to its average volume of 464,396. The firm has a market capitalization of $2.62 billion, a P/E ratio of 16.99, a P/E/G ratio of 8.71 and a beta of 1.42. The company has a 50-day moving average of $37.27. The company has a quick ratio of 1.19, a current ratio of 1.72 and a debt-to-equity ratio of 0.56. Potlatchdeltic has a 12-month low of $28.07 and a 12-month high of $49.85.
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Thursday, June 6th. Potlatchdeltic’s payout ratio is 70.18%.
In other news, Director John S. Moody sold 1,781 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $33.68, for a total value of $59,984.08. Following the completion of the transaction, the director now directly owns 2,617 shares of the company’s stock, valued at approximately $88,140.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC purchased a new position in Potlatchdeltic during the 1st quarter worth $29,000. Advisor Group Inc. grew its stake in Potlatchdeltic by 107.8% during the 4th quarter. Advisor Group Inc. now owns 1,253 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 650 shares during the last quarter. American Research & Management Co. purchased a new stake in Potlatchdeltic during the 1st quarter valued at about $57,000. First Interstate Bank grew its stake in Potlatchdeltic by 319.8% during the 1st quarter. First Interstate Bank now owns 2,166 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 1,650 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new stake in Potlatchdeltic during the 1st quarter valued at about $84,000. Hedge funds and other institutional investors own 87.68% 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.
Recommended Story: What is Depreciation?
Receive News & Ratings for Potlatchdeltic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Potlatchdeltic and related companies with MarketBeat.com's FREE daily email newsletter.