According to Zacks, “Potlatch Corporation is a Real Estate Investment Trust (REIT) with the acres of timberland in Alabama, Arkansas, Idaho, Minnesota and Mississippi. Potlatch, a certified forest practices leader, is committed to providing superior returns to stockholders through long-term stewardship of its forest resources. The company also conducts a land sales and development business and operates wood products manufacturing facilities through its taxable REIT subsidiary. “
A number of other equities analysts have also recently issued reports on the stock. BidaskClub upgraded shares of Potlatchdeltic from a hold rating to a buy rating in a research note on Thursday, June 20th. Vertical Research cut shares of Potlatchdeltic from a buy rating to a hold rating and set a $39.00 price objective for the company. in a research note on Friday, April 12th. Bank of America upgraded shares of Potlatchdeltic from a neutral rating to a buy rating and set a $37.88 price objective for the company in a research note on Friday, April 5th. Seaport Global Securities assumed coverage on shares of Potlatchdeltic in a research note on Tuesday, April 2nd. They issued a buy rating and a $45.00 price objective for the company. Finally, BMO Capital Markets upgraded shares of Potlatchdeltic from a market perform rating to an outperform rating and set a $44.00 price objective for the company in a research note on Monday, March 11th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $43.48.
Potlatchdeltic (NASDAQ:PCH) last announced its quarterly earnings data on Monday, April 29th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. Potlatchdeltic had a net margin of 12.01% and a return on equity of 8.66%. The company had revenue of $181.72 million during the quarter, compared to analysts’ expectations of $179.89 million. During the same quarter in the prior year, the company posted $0.69 EPS. The business’s revenue was down 9.1% on a year-over-year basis. As a group, analysts forecast that Potlatchdeltic will post 0.9 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Thursday, June 6th. Potlatchdeltic’s dividend payout ratio (DPR) is currently 70.18%.
In related news, Director John S. Moody sold 1,781 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $33.68, for a total transaction of $59,984.08. Following the completion of the sale, the director now owns 2,617 shares in the company, valued at approximately $88,140.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in PCH. FMR LLC increased its position in shares of Potlatchdeltic by 199.1% during the 4th quarter. FMR LLC now owns 1,499,399 shares of the real estate investment trust’s stock worth $47,440,000 after purchasing an additional 998,147 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Potlatchdeltic by 3,277.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 834,758 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 810,044 shares in the last quarter. Norges Bank acquired a new stake in shares of Potlatchdeltic during the 4th quarter worth about $19,321,000. Clearbridge Investments LLC acquired a new stake in shares of Potlatchdeltic during the 1st quarter worth about $13,705,000. Finally, JPMorgan Chase & Co. grew its holdings in Potlatchdeltic by 112.5% during the 1st quarter. JPMorgan Chase & Co. now owns 685,087 shares of the real estate investment trust’s stock worth $25,890,000 after acquiring an additional 362,625 shares during the last quarter. Institutional investors and hedge funds own 87.68% of the company’s stock.
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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