ValuEngine upgraded shares of Potlatchdeltic (NASDAQ:PCH) from a buy rating to a strong-buy rating in a research note released on Thursday morning, ValuEngine reports.

A number of other brokerages have also recently issued reports on PCH. Zacks Investment Research upgraded shares of Potlatchdeltic from a sell rating to a hold rating in a report on Wednesday, July 31st. BidaskClub upgraded shares of Potlatchdeltic from a hold rating to a buy rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada cut shares of Potlatchdeltic from an outperform rating to a sector perform rating and set a $42.00 price objective for the company. in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $43.27.

NASDAQ PCH traded down $0.29 during mid-day trading on Thursday, reaching $41.82. 20,902 shares of the stock were exchanged, compared to its average volume of 229,159. Potlatchdeltic has a one year low of $28.07 and a one year high of $48.70. The stock has a 50 day simple moving average of $37.75 and a 200-day simple moving average of $37.59. The stock has a market cap of $2.69 billion, a P/E ratio of 18.40, a P/E/G ratio of 9.42 and a beta of 1.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.58 and a quick ratio of 1.14.

Potlatchdeltic (NASDAQ:PCH) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. The business had revenue of $215.60 million during the quarter, compared to analysts’ expectations of $210.17 million. Potlatchdeltic had a net margin of 9.50% and a return on equity of 6.46%. The business’s quarterly revenue was down 19.6% on a year-over-year basis. During the same period last year, the company posted $0.75 earnings per share. Sell-side analysts anticipate that Potlatchdeltic will post 0.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, September 12th. Potlatchdeltic’s dividend payout ratio is 70.18%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of Potlatchdeltic by 1.1% in the second quarter. Royal Bank of Canada now owns 182,782 shares of the real estate investment trust’s stock valued at $7,126,000 after purchasing an additional 2,077 shares during the period. United Services Automobile Association grew its stake in Potlatchdeltic by 2.6% during the second quarter. United Services Automobile Association now owns 365,807 shares of the real estate investment trust’s stock valued at $14,259,000 after acquiring an additional 9,210 shares in the last quarter. Susquehanna International Group LLP purchased a new position in Potlatchdeltic during the second quarter valued at approximately $988,000. Nuveen Asset Management LLC purchased a new position in Potlatchdeltic during the second quarter valued at approximately $11,986,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Potlatchdeltic by 2.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,342,337 shares of the real estate investment trust’s stock valued at $52,324,000 after acquiring an additional 30,669 shares in the last quarter. 89.21% of the stock is currently owned by institutional investors.

About Potlatchdeltic

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.

See Also: Why is the ex-dividend date different from the record date?

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Analyst Recommendations for Potlatchdeltic (NASDAQ:PCH)

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