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

Other analysts have also recently issued reports about the stock. DA Davidson upgraded shares of Potlatchdeltic from a neutral rating to a buy rating and reduced their target price for the stock from $52.00 to $50.00 in a report on Tuesday, October 30th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Potlatchdeltic from a strong-buy rating to a hold rating in a report on Saturday, October 6th. ValuEngine upgraded shares of Potlatchdeltic from a sell rating to a hold rating in a report on Monday, August 20th. Finally, BMO Capital Markets reduced their target price on shares of Potlatchdeltic from $49.00 to $44.00 and set a hold rating for the company in a report on Wednesday, October 31st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $51.00.

Shares of NASDAQ:PCH opened at $36.43 on Thursday. The company has a market cap of $2.29 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 2.97 and a beta of 1.17. Potlatchdeltic has a 1-year low of $33.09 and a 1-year high of $55.75. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.66.

Potlatchdeltic (NASDAQ:PCH) last issued its earnings results on Monday, October 29th. The real estate investment trust reported $0.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.01). The business had revenue of $289.20 million for the quarter, compared to the consensus estimate of $288.27 million. Potlatchdeltic had a return on equity of 15.77% and a net margin of 14.23%. The company’s quarterly revenue was up 51.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 earnings per share. As a group, sell-side analysts anticipate that Potlatchdeltic will post 2.45 EPS for the current year.

Potlatchdeltic declared that its board has approved a share repurchase program 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 programs are generally a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a special dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, September 27th were paid a $3.54 dividend. This represents a yield of 3.31%. The ex-dividend date was Thursday, September 13th. Potlatchdeltic’s dividend payout ratio is 67.80%.

A number of institutional investors have recently bought and sold shares of PCH. BlackRock Inc. boosted its stake in Potlatchdeltic by 8.5% in the 3rd quarter. BlackRock Inc. now owns 8,537,689 shares of the real estate investment trust’s stock worth $349,616,000 after purchasing an additional 666,586 shares during the period. Northern Trust Corp boosted its stake in Potlatchdeltic by 36.9% in the 2nd quarter. Northern Trust Corp now owns 1,288,325 shares of the real estate investment trust’s stock worth $65,511,000 after purchasing an additional 346,939 shares during the period. Rothschild Asset Management Inc. boosted its stake in Potlatchdeltic by 180.1% in the 2nd quarter. Rothschild Asset Management Inc. now owns 536,113 shares of the real estate investment trust’s stock worth $27,261,000 after purchasing an additional 344,698 shares during the period. Standard Life Aberdeen plc acquired a new position in Potlatchdeltic in the 3rd quarter worth approximately $13,125,000. Finally, Renaissance Technologies LLC boosted its stake in Potlatchdeltic by 10.9% in the 3rd quarter. Renaissance Technologies LLC now owns 2,601,731 shares of the real estate investment trust’s stock worth $106,541,000 after purchasing an additional 255,411 shares during the period. 83.36% of the stock is owned by hedge funds and other 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.

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Analyst Recommendations for Potlatchdeltic (NASDAQ:PCH)

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