PotlatchDeltic (NASDAQ:PCH) Upgraded to “Outperform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of PotlatchDeltic (NASDAQ:PCH) from a sector perform rating to an outperform rating in a research report report published on Wednesday morning, Marketbeat reports. The brokerage currently has $46.00 target price on the real estate investment trust’s stock, up from their previous target price of $45.00.

Separately, Truist Financial lowered their price target on PotlatchDeltic from $51.00 to $49.00 and set a hold rating for the company in a report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $50.67.

PotlatchDeltic Price Performance

Shares of PCH stock opened at $42.00 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. PotlatchDeltic has a 12-month low of $39.86 and a 12-month high of $54.44. The firm has a fifty day moving average of $44.40 and a 200-day moving average of $45.51. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 73.69 and a beta of 1.19.

PotlatchDeltic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a $0.45 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.80 annualized dividend and a yield of 4.29%. PotlatchDeltic’s dividend payout ratio is currently 315.80%.

Insider Buying and Selling

In related news, CFO Wayne Wasechek sold 1,565 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $45.13, for a total transaction of $70,628.45. Following the completion of the transaction, the chief financial officer now directly owns 21,247 shares in the company, valued at $958,877.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Wayne Wasechek sold 1,565 shares of PotlatchDeltic stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $45.13, for a total value of $70,628.45. Following the sale, the chief financial officer now directly owns 21,247 shares in the company, valued at $958,877.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michele Tyler sold 3,968 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $45.14, for a total transaction of $179,115.52. Following the transaction, the vice president now owns 31,864 shares of the company’s stock, valued at approximately $1,438,340.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,124 shares of company stock valued at $1,043,626. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On PotlatchDeltic

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its holdings in PotlatchDeltic by 39.0% during the first quarter. BNP Paribas Financial Markets now owns 79,647 shares of the real estate investment trust’s stock worth $3,745,000 after buying an additional 22,331 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of PotlatchDeltic by 6.7% during the 1st quarter. Retirement Systems of Alabama now owns 243,462 shares of the real estate investment trust’s stock worth $11,448,000 after purchasing an additional 15,263 shares during the last quarter. Hartford Financial Management Inc. increased its stake in shares of PotlatchDeltic by 2.0% during the 1st quarter. Hartford Financial Management Inc. now owns 26,678 shares of the real estate investment trust’s stock worth $1,254,000 after purchasing an additional 532 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of PotlatchDeltic by 25.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 50,904 shares of the real estate investment trust’s stock valued at $2,394,000 after purchasing an additional 10,251 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in PotlatchDeltic by 2.2% during the first quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the real estate investment trust’s stock worth $1,072,000 after purchasing an additional 500 shares during the period. Institutional investors 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.