Truist Financial Cuts PotlatchDeltic (NASDAQ:PCH) Price Target to $42.00

PotlatchDeltic (NASDAQ:PCH) had its price objective trimmed by Truist Financial from $44.00 to $42.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

PCH has been the topic of several other reports. DA Davidson set a $54.00 price objective on PotlatchDeltic in a report on Wednesday, January 29th. Citigroup decreased their price objective on PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. StockNews.com upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Friday, January 31st. Finally, Raymond James upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Monday, December 23rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, PotlatchDeltic currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.43.

PotlatchDeltic Trading Up 0.1 %

Shares of NASDAQ PCH opened at $39.05 on Tuesday. The stock has a market capitalization of $3.07 billion, a P/E ratio of 139.46 and a beta of 1.12. PotlatchDeltic has a 1-year low of $36.82 and a 1-year high of $48.12. The business’s 50 day moving average is $43.26 and its two-hundred day moving average is $42.59. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.08.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.10. PotlatchDeltic had a return on equity of 1.05% and a net margin of 2.06%. As a group, research analysts expect that PotlatchDeltic will post 0.8 EPS for the current year.

PotlatchDeltic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Friday, March 7th. PotlatchDeltic’s payout ratio is 642.86%.

Insider Buying and Selling

In other PotlatchDeltic news, VP Michele Tyler sold 3,170 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $44.72, for a total transaction of $141,762.40. Following the transaction, the vice president now owns 39,446 shares in the company, valued at approximately $1,764,025.12. This represents a 7.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric J. Cremers sold 14,188 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $44.76, for a total transaction of $635,054.88. Following the transaction, the chief executive officer now directly owns 281,133 shares in the company, valued at approximately $12,583,513.08. The trade was a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,651 shares of company stock valued at $834,770 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of PotlatchDeltic

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of PotlatchDeltic by 27.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,145,473 shares of the real estate investment trust’s stock worth $44,960,000 after buying an additional 245,026 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in PotlatchDeltic by 4.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 162,135 shares of the real estate investment trust’s stock valued at $6,364,000 after acquiring an additional 7,567 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in PotlatchDeltic by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,542,771 shares of the real estate investment trust’s stock worth $60,554,000 after purchasing an additional 70,745 shares in the last quarter. Stephens Inc. AR boosted its holdings in shares of PotlatchDeltic by 9.0% during the 4th quarter. Stephens Inc. AR now owns 7,995 shares of the real estate investment trust’s stock worth $314,000 after purchasing an additional 662 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of PotlatchDeltic by 17.3% in the fourth quarter. New York State Common Retirement Fund now owns 271,698 shares of the real estate investment trust’s stock valued at $10,664,000 after purchasing an additional 40,058 shares in the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.

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.