PotlatchDeltic Co. (NASDAQ:PCH) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 809,900 shares, a decline of 19.8% from the October 31st total of 1,010,000 shares. Based on an average daily volume of 411,300 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.2% of the company’s shares are short sold.
NASDAQ PCH opened at $56.82 on Friday. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 7.94 and a beta of 1.23. PotlatchDeltic has a 52 week low of $44.87 and a 52 week high of $65.67. The business has a 50 day moving average price of $54.67 and a 200-day moving average price of $53.85. The company has a quick ratio of 4.69, a current ratio of 5.20 and a debt-to-equity ratio of 0.43.
PotlatchDeltic (NASDAQ:PCH) last announced its earnings results on Sunday, October 24th. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.08. The company had revenue of $287.33 million for the quarter, compared to analysts’ expectations of $275.77 million. PotlatchDeltic had a return on equity of 31.81% and a net margin of 33.98%. PotlatchDeltic’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 earnings per share. On average, equities research analysts anticipate that PotlatchDeltic will post 6.03 earnings per share for the current year.
The business also recently announced a special dividend, which will be paid on Friday, December 31st. Investors of record on Wednesday, December 22nd will be given a dividend of $4.00 per share. This is a boost from PotlatchDeltic’s previous special dividend of $3.54. PotlatchDeltic’s payout ratio is presently 22.91%.
A number of brokerages have weighed in on PCH. Zacks Investment Research downgraded PotlatchDeltic from a “hold” rating to a “sell” rating in a report on Wednesday, September 29th. DA Davidson upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating in a report on Wednesday, October 6th. They noted that the move was a valuation call. Finally, Raymond James decreased their price objective on PotlatchDeltic from $75.00 to $70.00 and set a “strong-buy” rating for the company in a report on Friday, August 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, PotlatchDeltic presently has an average rating of “Hold” and an average price target of $65.33.
Several large investors have recently made changes to their positions in the stock. MUFG Americas Holdings Corp boosted its position in shares of PotlatchDeltic by 69.5% during the third quarter. MUFG Americas Holdings Corp now owns 478 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 196 shares during the last quarter. Fieldpoint Private Securities LLC boosted its position in shares of PotlatchDeltic by 41.1% during the third quarter. Fieldpoint Private Securities LLC now owns 755 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 220 shares during the last quarter. Windward Capital Management Co. CA boosted its position in shares of PotlatchDeltic by 0.4% during the third quarter. Windward Capital Management Co. CA now owns 52,403 shares of the real estate investment trust’s stock valued at $2,703,000 after buying an additional 221 shares during the last quarter. Stephens Inc. AR boosted its position in shares of PotlatchDeltic by 4.9% during the second quarter. Stephens Inc. AR now owns 4,784 shares of the real estate investment trust’s stock valued at $254,000 after buying an additional 223 shares during the last quarter. Finally, CWM Advisors LLC boosted its position in PotlatchDeltic by 3.1% in the second quarter. CWM Advisors LLC now owns 9,438 shares of the real estate investment trust’s stock worth $502,000 after purchasing an additional 286 shares during the last quarter. 82.90% of the stock is currently owned by institutional investors.
About PotlatchDeltic
PotlatchDeltic Corp. operates as a real estate investment trust. The firm engages in the ownership and management of acres of timberlands. It operates through the following segments: Timberlands, Wood Products and Real Estate. The Timberland segment sells delivered logs, pulpwood, sawlogs, and stumpage.