PotlatchDeltic (NASDAQ:PCH) Posts Quarterly Earnings Results, Beats Expectations By $0.36 EPS

PotlatchDeltic (NASDAQ:PCHGet Rating) posted its quarterly earnings results on Monday. The real estate investment trust reported $2.50 EPS for the quarter, topping the Zacks’ consensus estimate of $2.14 by $0.36, RTT News reports. PotlatchDeltic had a return on equity of 26.86% and a net margin of 31.69%. The company had revenue of $411.40 million for the quarter, compared to analysts’ expectations of $382.28 million. During the same period in the previous year, the firm earned $1.94 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year.

NASDAQ PCH traded down $0.41 on Monday, hitting $53.73. 980,081 shares of the stock were exchanged, compared to its average volume of 412,230. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.76 and a current ratio of 3.34. PotlatchDeltic has a 52-week low of $48.82 and a 52-week high of $65.67. The firm has a market capitalization of $3.71 billion, a P/E ratio of 8.58 and a beta of 1.23. The stock has a fifty day moving average price of $53.77 and a two-hundred day moving average price of $55.19.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Friday, March 4th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Thursday, March 3rd. This is a positive change from PotlatchDeltic’s previous quarterly dividend of $0.41. PotlatchDeltic’s dividend payout ratio is presently 28.12%.

A number of large investors have recently modified their holdings of PCH. Morgan Stanley lifted its stake in PotlatchDeltic by 171.2% in the second quarter. Morgan Stanley now owns 339,848 shares of the real estate investment trust’s stock worth $18,062,000 after purchasing an additional 214,538 shares during the last quarter. BlackRock Inc. lifted its stake in shares of PotlatchDeltic by 2.5% during the 4th quarter. BlackRock Inc. now owns 8,703,548 shares of the real estate investment trust’s stock worth $524,128,000 after acquiring an additional 212,800 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in PotlatchDeltic by 47.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 290,907 shares of the real estate investment trust’s stock valued at $17,518,000 after acquiring an additional 93,487 shares during the period. Barclays PLC grew its position in PotlatchDeltic by 29.9% in the 4th quarter. Barclays PLC now owns 104,431 shares of the real estate investment trust’s stock valued at $6,287,000 after acquiring an additional 24,010 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in shares of PotlatchDeltic by 92.3% during the fourth quarter. Stifel Financial Corp now owns 25,404 shares of the real estate investment trust’s stock worth $1,530,000 after purchasing an additional 12,192 shares during the last quarter. Institutional investors own 82.07% of the company’s stock.

Several research firms have weighed in on PCH. StockNews.com assumed coverage on PotlatchDeltic in a report on Thursday, March 31st. They set a “buy” rating for the company. Zacks Investment Research upgraded shares of PotlatchDeltic from a “strong sell” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a research report on Wednesday, January 12th. Finally, Royal Bank of Canada upgraded shares of PotlatchDeltic from a “sector perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Wednesday, February 2nd. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $65.50.

About PotlatchDeltic (Get Rating)

PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns 1.8 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 residential and commercial real estate development business and a rural timberland sales program.

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Earnings History for PotlatchDeltic (NASDAQ:PCH)

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