Potlatchdeltic Corp (NASDAQ:PCH) shares were up 15.8% during mid-day trading on Tuesday . The company traded as high as $30.72 and last traded at $30.71, approximately 532,500 shares changed hands during trading. An increase of 21% from the average daily volume of 440,874 shares. The stock had previously closed at $26.51.
A number of equities analysts have recently issued reports on PCH shares. BidaskClub upgraded shares of Potlatchdeltic from a “sell” rating to a “hold” rating in a research report on Thursday, February 20th. ValuEngine downgraded Potlatchdeltic from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Raymond James raised Potlatchdeltic from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a report on Tuesday, January 7th. Finally, Zacks Investment Research downgraded Potlatchdeltic from a “buy” rating to a “strong sell” rating in a report on Saturday, February 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $45.00.
The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 37.45 and a beta of 1.48. The company has a current ratio of 1.62, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average price of $37.02 and a 200-day moving average price of $41.21.
Potlatchdeltic (NASDAQ:PCH) last released its quarterly earnings results on Monday, February 3rd. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $203.50 million during the quarter, compared to the consensus estimate of $213.69 million. Potlatchdeltic had a return on equity of 4.36% and a net margin of 6.73%. The business’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 EPS. As a group, equities analysts expect that Potlatchdeltic Corp will post 0.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.21%. The ex-dividend date is Thursday, March 5th. Potlatchdeltic’s dividend payout ratio (DPR) is presently 200.00%.
In other news, COO Eric J. Cremers sold 7,145 shares of Potlatchdeltic stock in a transaction on Friday, February 14th. The stock was sold at an average price of $41.65, for a total transaction of $297,589.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jerald W. Richards sold 4,273 shares of Potlatchdeltic stock in a transaction on Friday, February 14th. The stock was sold at an average price of $41.66, for a total value of $178,013.18. The disclosure for this sale can be found here. Insiders have sold a total of 34,640 shares of company stock valued at $1,443,031 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. purchased a new stake in Potlatchdeltic during the 4th quarter worth about $210,000. Norges Bank purchased a new stake in Potlatchdeltic during the 4th quarter worth about $63,508,000. Sunbelt Securities Inc. purchased a new stake in Potlatchdeltic during the 4th quarter worth about $16,345,000. Geode Capital Management LLC increased its position in Potlatchdeltic by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 946,956 shares of the real estate investment trust’s stock worth $40,974,000 after purchasing an additional 55,460 shares in the last quarter. Finally, Mason Street Advisors LLC increased its position in Potlatchdeltic by 1.5% during the 4th quarter. Mason Street Advisors LLC now owns 35,754 shares of the real estate investment trust’s stock worth $1,547,000 after purchasing an additional 520 shares in the last quarter. Hedge funds and other institutional investors own 88.35% of the company’s stock.
About Potlatchdeltic (NASDAQ:PCH)
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.