Potlatchdeltic (PCH) Downgraded to Strong Sell at BidaskClub

BidaskClub downgraded shares of Potlatchdeltic (NASDAQ:PCH) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday morning.

Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Potlatchdeltic from a hold rating to a buy rating and set a $57.00 price objective for the company in a research report on Wednesday, July 11th. ValuEngine raised shares of Potlatchdeltic from a sell rating to a hold rating in a research report on Monday, August 20th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $50.83.

PCH opened at $36.53 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.21 and a quick ratio of 2.40. Potlatchdeltic has a 1 year low of $35.10 and a 1 year high of $56.35. The company has a market cap of $2.26 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10.

Potlatchdeltic (NASDAQ:PCH) last issued its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.14. Potlatchdeltic had a net margin of 12.72% and a return on equity of 18.57%. The company had revenue of $268.20 million during the quarter, compared to the consensus estimate of $271.88 million. During the same quarter last year, the company earned $0.59 earnings per share. Potlatchdeltic’s revenue for the quarter was up 64.3% on a year-over-year basis. On average, analysts expect that Potlatchdeltic will post 2.94 earnings per share for the current year.

Potlatchdeltic announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 30th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the real estate investment trust to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a special dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, September 27th will be given a $3.54 dividend. This represents a yield of 3.31%. The ex-dividend date is Thursday, September 13th. Potlatchdeltic’s dividend payout ratio (DPR) is 67.80%.

In other Potlatchdeltic news, VP Lorrie D. Scott sold 1,500 shares of the stock in a transaction that occurred on 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 sale, the vice president now owns 14,586 shares of the company’s stock, valued at $686,417.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Potlatchdeltic by 4.7% during the 2nd quarter. BlackRock Inc. now owns 7,871,103 shares of the real estate investment trust’s stock valued at $400,243,000 after buying an additional 354,166 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Potlatchdeltic by 50.6% during the 1st quarter. Millennium Management LLC now owns 1,357,937 shares of the real estate investment trust’s stock valued at $70,681,000 after buying an additional 456,375 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Potlatchdeltic by 36.9% during the 2nd quarter. Northern Trust Corp now owns 1,288,325 shares of the real estate investment trust’s stock valued at $65,511,000 after buying an additional 346,939 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Potlatchdeltic by 12.6% during the 2nd quarter. Brown Advisory Inc. now owns 865,338 shares of the real estate investment trust’s stock valued at $44,003,000 after buying an additional 96,929 shares during the last quarter. Finally, Rothschild Asset Management Inc. boosted its stake in shares of Potlatchdeltic by 180.1% during the 2nd quarter. Rothschild Asset Management Inc. now owns 536,113 shares of the real estate investment trust’s stock valued at $27,261,000 after buying an additional 344,698 shares during the last quarter. Institutional investors own 83.52% of the company’s stock.

Potlatchdeltic Company Profile

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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