PotlatchDeltic Co. (NASDAQ:PCH) Short Interest Down 14.6% in December

PotlatchDeltic Co. (NASDAQ:PCH) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 1,110,000 shares, a drop of 14.6% from the December 15th total of 1,300,000 shares. Based on an average daily volume of 413,000 shares, the short-interest ratio is presently 2.7 days.

Hedge Funds Weigh In On PotlatchDeltic

Large investors have recently made changes to their positions in the business. MQS Management LLC purchased a new position in PotlatchDeltic during the 3rd quarter worth $771,000. TCW Group Inc. purchased a new stake in shares of PotlatchDeltic during the third quarter worth about $1,923,000. Renaissance Technologies LLC increased its holdings in shares of PotlatchDeltic by 2,054.5% during the second quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust’s stock valued at $4,053,000 after acquiring an additional 98,123 shares in the last quarter. Quest Partners LLC increased its holdings in shares of PotlatchDeltic by 872.1% during the third quarter. Quest Partners LLC now owns 20,997 shares of the real estate investment trust’s stock valued at $946,000 after acquiring an additional 18,837 shares in the last quarter. Finally, Foresight Group Ltd Liability Partnership raised its position in shares of PotlatchDeltic by 72.7% in the 2nd quarter. Foresight Group Ltd Liability Partnership now owns 84,314 shares of the real estate investment trust’s stock valued at $3,321,000 after purchasing an additional 35,494 shares during the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.

PotlatchDeltic Stock Up 2.2 %

Shares of PCH traded up $0.89 during trading hours on Thursday, hitting $41.83. The company had a trading volume of 290,986 shares, compared to its average volume of 415,599. PotlatchDeltic has a one year low of $37.06 and a one year high of $48.08. The company’s fifty day moving average price is $41.47 and its two-hundred day moving average price is $42.12. The company has a market capitalization of $3.29 billion, a PE ratio of 199.19 and a beta of 1.16. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42.

PotlatchDeltic (NASDAQ:PCH) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.08. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The business had revenue of $255.10 million during the quarter, compared to analyst estimates of $241.35 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, equities analysts forecast that PotlatchDeltic will post 0.21 earnings per share for the current fiscal year.

PotlatchDeltic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.30%. The ex-dividend date was Monday, December 16th. PotlatchDeltic’s dividend payout ratio is currently 857.14%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PCH. Truist Financial lowered their price objective on shares of PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating for the company in a research report on Monday, January 6th. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Citigroup reduced their price objective on PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 target price on shares of PotlatchDeltic in a report on Wednesday, October 30th. Finally, BMO Capital Markets upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a research note on Friday, December 6th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, PotlatchDeltic currently has an average rating of “Moderate Buy” and an average target price of $47.83.

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.