Potlatchdeltic Corp (NASDAQ:PCH) Sees Large Decline in Short Interest

Potlatchdeltic Corp (NASDAQ:PCH) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 997,100 shares, a drop of 20.9% from the August 31st total of 1,260,000 shares. Based on an average daily trading volume, of 454,600 shares, the short-interest ratio is currently 2.2 days. Currently, 1.6% of the shares of the stock are short sold.

NASDAQ PCH traded up $1.20 during mid-day trading on Thursday, reaching $43.30. 677,570 shares of the stock were exchanged, compared to its average volume of 455,269. Potlatchdeltic has a one year low of $22.40 and a one year high of $48.13. The stock has a 50 day simple moving average of $43.77 and a 200-day simple moving average of $37.40. The stock has a market cap of $2.90 billion, a P/E ratio of 163.47 and a beta of 1.37. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.40 and a quick ratio of 0.99.

Potlatchdeltic (NASDAQ:PCH) last posted its quarterly earnings results on Monday, July 27th. The real estate investment trust reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.05. Potlatchdeltic had a net margin of 2.17% and a return on equity of 4.19%. The firm had revenue of $181.56 million during the quarter, compared to the consensus estimate of $173.89 million. During the same period in the previous year, the firm posted $0.25 earnings per share. The business’s revenue was down 15.8% compared to the same quarter last year. Sell-side analysts anticipate that Potlatchdeltic will post 2.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Monday, September 14th. Potlatchdeltic’s dividend payout ratio (DPR) is presently 200.00%.

A number of institutional investors have recently added to or reduced their stakes in PCH. Ellevest Inc. increased its holdings in Potlatchdeltic by 10,041.7% during the 2nd quarter. Ellevest Inc. now owns 1,217 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,205 shares during the period. Macquarie Group Ltd. purchased a new stake in Potlatchdeltic during the 2nd quarter valued at $92,000. Baker Ellis Asset Management LLC bought a new position in Potlatchdeltic in the 2nd quarter worth $165,000. Cove Street Capital LLC bought a new position in Potlatchdeltic in the 2nd quarter worth $202,000. Finally, Advisor Group Holdings Inc. bought a new position in Potlatchdeltic in the 1st quarter worth $173,000. Institutional investors and hedge funds own 85.32% of the company’s stock.

A number of analysts have weighed in on the stock. BidaskClub upgraded shares of Potlatchdeltic from a “sell” rating to a “hold” rating in a research report on Wednesday. BofA Securities lowered shares of Potlatchdeltic from a “buy” rating to a “neutral” rating in a research report on Friday, September 11th. Bank of America lowered shares of Potlatchdeltic from a “buy” rating to a “neutral” rating and set a $48.00 target price on the stock. in a research report on Friday, September 11th. Royal Bank of Canada upgraded shares of Potlatchdeltic from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $40.00 to $45.00 in a research report on Friday, July 10th. Finally, Raymond James raised shares of Potlatchdeltic from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $48.00 to $51.00 in a research note on Thursday. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Potlatchdeltic presently has a consensus rating of “Buy” and an average target price of $45.40.

About Potlatchdeltic

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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