PotlatchDeltic Co. to Issue Quarterly Dividend of $0.44 (NASDAQ:PCH)

PotlatchDeltic Co. (NASDAQ:PCHGet Rating) declared a quarterly dividend on Thursday, May 5th, RTT News reports. Stockholders of record on Friday, June 3rd will be paid a dividend of 0.44 per share by the real estate investment trust on Thursday, June 30th. This represents a $1.76 annualized dividend and a dividend yield of 3.14%.

PotlatchDeltic has increased its dividend payment by an average of 3.3% per year over the last three years and has increased its dividend every year for the last 2 years. PotlatchDeltic has a payout ratio of 74.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PotlatchDeltic to earn $2.10 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 83.8%.

PotlatchDeltic stock opened at $56.10 on Friday. The company’s 50 day simple moving average is $54.04 and its 200 day simple moving average is $55.27. PotlatchDeltic has a fifty-two week low of $48.82 and a fifty-two week high of $65.67. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 8.41 and a beta of 1.11. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.10 and a quick ratio of 3.64.

PotlatchDeltic (NASDAQ:PCHGet Rating) last released its quarterly earnings data on Monday, April 25th. The real estate investment trust reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.36. PotlatchDeltic had a net margin of 32.74% and a return on equity of 28.56%. The business had revenue of $411.40 million for the quarter, compared to analyst estimates of $382.28 million. During the same quarter last year, the firm earned $1.94 EPS. PotlatchDeltic’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, analysts predict that PotlatchDeltic will post 5.37 EPS for the current fiscal year.

PCH has been the topic of several recent analyst reports. Zacks Investment Research raised shares of PotlatchDeltic from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Friday. StockNews.com upgraded shares of PotlatchDeltic from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada downgraded shares of PotlatchDeltic from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $65.00 to $60.00 in a report on Wednesday, April 27th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $65.00.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of PotlatchDeltic by 2.5% in the fourth quarter. BlackRock Inc. now owns 8,703,548 shares of the real estate investment trust’s stock valued at $524,128,000 after purchasing an additional 212,800 shares during the last quarter. Morgan Stanley increased its holdings in PotlatchDeltic by 171.2% during the second quarter. Morgan Stanley now owns 339,848 shares of the real estate investment trust’s stock worth $18,062,000 after buying an additional 214,538 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in PotlatchDeltic by 47.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 290,907 shares of the real estate investment trust’s stock worth $17,518,000 after buying an additional 93,487 shares during the last quarter. Barclays PLC increased its holdings in PotlatchDeltic by 29.9% during the fourth quarter. Barclays PLC now owns 104,431 shares of the real estate investment trust’s stock worth $6,287,000 after buying an additional 24,010 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in PotlatchDeltic by 2.1% during the fourth quarter. California State Teachers Retirement System now owns 92,671 shares of the real estate investment trust’s stock worth $5,581,000 after buying an additional 1,916 shares during the last quarter. Institutional investors own 81.18% of the company’s stock.

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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Dividend History for PotlatchDeltic (NASDAQ:PCH)

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