Potlatchdeltic Corp (PCH) Receives $50.83 Consensus Target Price from Brokerages
Shares of Potlatchdeltic Corp (NASDAQ:PCH) have been given an average recommendation of “Hold” by the ten analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $50.83.
Several analysts have commented on PCH shares. BidaskClub cut shares of Potlatchdeltic from a “hold” rating to a “sell” rating in a research note on Saturday, May 12th. Vertical Research raised shares of Potlatchdeltic to a “hold” rating in a research note on Monday, May 7th. They noted that the move was a valuation call. Royal Bank of Canada raised shares of Potlatchdeltic from a “sector perform” rating to an “outperform” rating and set a $47.00 price objective for the company in a research note on Monday, May 7th. 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 note on Wednesday, July 11th. Finally, DA Davidson raised shares of Potlatchdeltic from an “underperform” rating to a “neutral” rating and set a $44.00 price objective for the company in a research note on Monday, May 7th.
In other news, VP Lorrie D. Scott sold 1,500 shares of the business’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $47.06, for a total transaction of $70,590.00. Following the completion of the sale, the vice president now directly owns 14,586 shares of the company’s stock, valued at approximately $686,417.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by insiders.
PCH stock traded down $1.30 during midday trading on Tuesday, hitting $47.00. The stock had a trading volume of 240,200 shares, compared to its average volume of 562,417. The stock has a market capitalization of $3.03 billion, a P/E ratio of 20.30, a PEG ratio of 3.46 and a beta of 1.10. 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 12-month low of $44.88 and a 12-month high of $56.35.
Potlatchdeltic (NASDAQ:PCH) last released its earnings results on Monday, July 30th. The real estate investment trust reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.14. The firm had revenue of $268.20 million during the quarter, compared to analysts’ expectations of $271.88 million. Potlatchdeltic had a net margin of 12.72% and a return on equity of 18.57%. Potlatchdeltic’s revenue for the quarter was up 64.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 EPS. research analysts forecast that Potlatchdeltic will post 2.79 earnings per share for the current fiscal year.
Potlatchdeltic announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 30th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a special dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, September 27th will be paid a dividend of $3.54 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a dividend yield of 3.31%. Potlatchdeltic’s dividend payout ratio is presently 67.80%.
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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