PotlatchDeltic (NASDAQ:PCH) Upgraded to “Outperform” by 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 report published on Wednesday morning, MarketBeat Ratings reports. They currently have $46.00 target price on the real estate investment trust’s stock, up from their prior target price of $45.00.

Separately, Truist Financial reduced their price target on shares of PotlatchDeltic from $51.00 to $49.00 and set a hold rating on the stock in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $50.67.

PotlatchDeltic Stock Performance

NASDAQ:PCH opened at $40.76 on Wednesday. PotlatchDeltic has a twelve month low of $39.86 and a twelve month high of $54.44. The company has a market cap of $3.24 billion, a P/E ratio of 71.51 and a beta of 1.19. The company has a current ratio of 1.42, a quick ratio of 1.14 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $44.56 and its 200-day moving average price is $45.60.

PotlatchDeltic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.80 annualized dividend and a yield of 4.42%. PotlatchDeltic’s payout ratio is 315.80%.

Insider Activity

In other PotlatchDeltic news, CEO Eric J. Cremers sold 17,591 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $45.13, for a total transaction of $793,881.83. Following the completion of the transaction, the chief executive officer now owns 241,111 shares in the company, valued at approximately $10,881,339.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Eric J. Cremers sold 17,591 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $45.13, for a total transaction of $793,881.83. Following the completion of the transaction, the chief executive officer now directly owns 241,111 shares of the company’s stock, valued at approximately $10,881,339.43. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Michele Tyler sold 3,968 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $45.14, for a total transaction of $179,115.52. Following the completion of the transaction, the vice president now owns 31,864 shares in the company, valued at $1,438,340.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,124 shares of company stock worth $1,043,626. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PCH. Norges Bank acquired a new stake in shares of PotlatchDeltic during the fourth quarter worth $150,557,000. Schroder Investment Management Group raised its stake in shares of PotlatchDeltic by 79.3% during the 4th quarter. Schroder Investment Management Group now owns 769,957 shares of the real estate investment trust’s stock worth $37,805,000 after buying an additional 340,555 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of PotlatchDeltic by 14.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,456,211 shares of the real estate investment trust’s stock worth $71,500,000 after buying an additional 188,333 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in PotlatchDeltic by 21.2% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 759,426 shares of the real estate investment trust’s stock valued at $34,470,000 after acquiring an additional 133,066 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in PotlatchDeltic by 224.2% during the fourth quarter. Corient Private Wealth LLC now owns 159,175 shares of the real estate investment trust’s stock worth $7,815,000 after acquiring an additional 110,078 shares during the last quarter. Hedge funds and other 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.