PotlatchDeltic Co. (NASDAQ:PCH) to Issue $0.45 Quarterly Dividend

PotlatchDeltic Co. (NASDAQ:PCH) announced a quarterly dividend on Thursday, May 9th, RTT News reports. Stockholders of record on Friday, June 7th will be given a dividend of 0.45 per share by the real estate investment trust on Friday, June 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.19%.

PotlatchDeltic Price Performance

Shares of PCH opened at $42.96 on Friday. The stock has a 50 day simple moving average of $44.25 and a 200 day simple moving average of $45.46. PotlatchDeltic has a 52-week low of $39.86 and a 52-week high of $54.44. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 1.42. The firm has a market capitalization of $3.42 billion, a PE ratio of 75.37 and a beta of 1.19.

Wall Street Analyst Weigh In

PCH has been the subject of several research analyst reports. Truist Financial lowered their price objective on shares of PotlatchDeltic from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Wednesday, January 31st. Royal Bank of Canada raised shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $45.00 to $46.00 in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.67.

Insider Activity

In related news, CEO Eric J. Cremers sold 17,591 shares of the stock in a transaction 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 $10,881,339.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Eric J. Cremers sold 17,591 shares of the stock in a transaction that occurred on 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 $10,881,339.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Wayne Wasechek sold 1,565 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $45.13, for a total transaction of $70,628.45. Following the transaction, the chief financial officer now owns 21,247 shares in the company, valued at $958,877.11. The disclosure for this sale can be found here. Insiders have sold 23,124 shares of company stock worth $1,043,626 over the last ninety days. Insiders own 2.00% 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.