PotlatchDeltic (NASDAQ:PCH) Stock Rating Upgraded 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 price objective on the real estate investment trust’s stock, up from their previous price objective of $45.00.

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

PotlatchDeltic Stock Performance

PotlatchDeltic stock opened at $42.00 on Wednesday. PotlatchDeltic has a 52 week low of $39.86 and a 52 week high of $54.44. 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 stock has a market cap of $3.34 billion, a P/E ratio of 73.69 and a beta of 1.19. The stock has a 50 day moving average of $44.40 and a 200-day moving average of $45.51.

PotlatchDeltic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Thursday, March 7th. PotlatchDeltic’s dividend payout ratio is presently 315.80%.

Insiders Place Their Bets

In related 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 value of $793,881.83. Following the sale, the chief executive officer now directly owns 241,111 shares in the company, valued at approximately $10,881,339.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Eric J. Cremers sold 17,591 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 $793,881.83. Following the sale, 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 can be accessed through the SEC website. Also, CFO Wayne Wasechek sold 1,565 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 value of $70,628.45. Following the completion of the transaction, the chief financial officer now owns 21,247 shares of the company’s stock, valued at approximately $958,877.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,124 shares of company stock worth $1,043,626. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of PotlatchDeltic

A number of hedge funds have recently modified their holdings of the business. Windward Capital Management Co. CA lifted its position in shares of PotlatchDeltic by 0.4% in the fourth quarter. Windward Capital Management Co. CA now owns 72,976 shares of the real estate investment trust’s stock worth $3,583,000 after purchasing an additional 269 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of PotlatchDeltic by 43.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,002 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 305 shares during the period. Arizona State Retirement System grew its holdings in shares of PotlatchDeltic by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 22,754 shares of the real estate investment trust’s stock valued at $1,033,000 after acquiring an additional 307 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of PotlatchDeltic by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 27,287 shares of the real estate investment trust’s stock worth $1,340,000 after acquiring an additional 395 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of PotlatchDeltic by 0.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 106,448 shares of the real estate investment trust’s stock worth $5,005,000 after acquiring an additional 413 shares in 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.