Truist Financial Cuts PotlatchDeltic (NASDAQ:PCH) Price Target to $42.00

PotlatchDeltic (NASDAQ:PCH) had its price objective decreased by Truist Financial from $44.00 to $42.00 in a report published on Tuesday morning,Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

A number of other analysts have also weighed in on the stock. Citigroup cut their target price on shares of PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. StockNews.com upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Friday, January 31st. DA Davidson set a $54.00 price target on PotlatchDeltic in a report on Wednesday, January 29th. Finally, Raymond James upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a report on Monday, December 23rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.43.

PotlatchDeltic Stock Performance

NASDAQ PCH opened at $39.05 on Tuesday. The stock has a market cap of $3.07 billion, a PE ratio of 139.46 and a beta of 1.12. PotlatchDeltic has a twelve month low of $36.82 and a twelve month high of $48.12. The stock has a fifty day simple moving average of $43.26 and a 200-day simple moving average of $42.59. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46.

PotlatchDeltic (NASDAQ:PCH) last released its quarterly earnings results on Monday, January 27th. The real estate investment trust reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.10. PotlatchDeltic had a return on equity of 1.05% and a net margin of 2.06%. Equities analysts anticipate that PotlatchDeltic will post 0.8 earnings per share for the current year.

PotlatchDeltic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Friday, March 7th. PotlatchDeltic’s payout ratio is currently 642.86%.

Insider Activity at PotlatchDeltic

In other PotlatchDeltic news, CFO Wayne Wasechek sold 1,293 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $44.82, for a total value of $57,952.26. Following the transaction, the chief financial officer now directly owns 27,701 shares of the company’s stock, valued at $1,241,558.82. This represents a 4.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Michele Tyler sold 3,170 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $44.72, for a total transaction of $141,762.40. Following the transaction, the vice president now directly owns 39,446 shares in the company, valued at $1,764,025.12. The trade was a 7.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,651 shares of company stock valued at $834,770. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On PotlatchDeltic

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of PotlatchDeltic in the fourth quarter valued at approximately $217,145,000. Legal & General Group Plc lifted its position in PotlatchDeltic by 4.0% in the fourth quarter. Legal & General Group Plc now owns 2,498,762 shares of the real estate investment trust’s stock worth $98,076,000 after purchasing an additional 95,485 shares during the period. Westwood Holdings Group Inc. boosted its stake in PotlatchDeltic by 12.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,404,064 shares of the real estate investment trust’s stock valued at $94,360,000 after purchasing an additional 260,674 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in shares of PotlatchDeltic by 17.5% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,359,832 shares of the real estate investment trust’s stock valued at $92,623,000 after purchasing an additional 351,777 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PotlatchDeltic by 4.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,542,771 shares of the real estate investment trust’s stock valued at $60,554,000 after purchasing an additional 70,745 shares during the period. Institutional investors and hedge funds own 86.06% of the company’s stock.

About PotlatchDeltic

PotlatchDeltic Corporation (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.