Potlatchdeltic (PCH) Upgraded to “Buy” at DA Davidson

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DA Davidson upgraded shares of Potlatchdeltic (NASDAQ:PCH) from a neutral rating to a buy rating in a research report sent to investors on Tuesday, MarketBeat reports. They currently have $50.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $52.00. The analysts noted that the move was a valuation call.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Potlatchdeltic from a strong-buy rating to a hold rating in a report on Saturday, October 6th. BidaskClub downgraded shares of Potlatchdeltic from a hold rating to a sell rating in a report on Wednesday, July 25th. Finally, ValuEngine raised shares of Potlatchdeltic from a sell rating to a hold rating in a report on Monday, August 20th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $51.83.

Shares of Potlatchdeltic stock traded up $0.15 during trading on Tuesday, hitting $36.20. 7,805 shares of the company’s stock traded hands, compared to its average volume of 731,572. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.40 and a current ratio of 3.21. Potlatchdeltic has a twelve month low of $33.09 and a twelve month high of $55.75. The firm has a market cap of $2.15 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 2.50 and a beta of 1.10.

Potlatchdeltic (NASDAQ:PCH) last issued its earnings results on Monday, October 29th. The real estate investment trust reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.01). Potlatchdeltic had a net margin of 14.23% and a return on equity of 16.64%. The business had revenue of $289.20 million for the quarter, compared to analyst estimates of $288.27 million. During the same quarter last year, the firm posted $0.82 earnings per share. Potlatchdeltic’s revenue was up 51.9% on a year-over-year basis. On average, equities analysts forecast that Potlatchdeltic will post 2.94 earnings per share for the current fiscal year.

Potlatchdeltic declared that its Board of Directors has authorized a share buyback program on Thursday, August 30th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

The company also recently declared a special dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, September 27th will be issued a dividend of $3.54 per share. This represents a yield of 3.31%. The ex-dividend date of this dividend is Thursday, September 13th. Potlatchdeltic’s dividend payout ratio is currently 67.80%.

In other Potlatchdeltic news, VP Lorrie D. Scott sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $47.06, for a total value of $70,590.00. Following the completion of the transaction, the vice president now directly owns 14,586 shares of the company’s stock, valued at $686,417.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Contravisory Investment Management Inc. bought a new position in shares of Potlatchdeltic in the second quarter worth about $142,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Potlatchdeltic during the 2nd quarter worth approximately $171,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Potlatchdeltic during the 2nd quarter worth approximately $236,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Potlatchdeltic during the 2nd quarter worth approximately $239,000. Finally, Marshall Wace LLP acquired a new stake in shares of Potlatchdeltic during the 2nd quarter worth approximately $289,000. 83.51% of the stock is owned by institutional investors.

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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Analyst Recommendations for Potlatchdeltic (NASDAQ:PCH)

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