PotlatchDeltic (NASDAQ:PCH) Hits New 1-Year Low – Here’s What Happened

Shares of PotlatchDeltic Co. (NASDAQ:PCH) reached a new 52-week low during trading on Wednesday . The stock traded as low as $36.85 and last traded at $37.19, with a volume of 105578 shares trading hands. The stock had previously closed at $38.22.

Wall Street Analyst Weigh In

PCH has been the subject of a number of recent research reports. Truist Financial dropped their price objective on shares of PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating for the company in a research note on Monday, January 6th. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, January 31st. Raymond James upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research report on Monday, December 23rd. DA Davidson set a $54.00 target price on PotlatchDeltic in a report on Wednesday, January 29th. Finally, Citigroup cut their target price on PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.71.

PotlatchDeltic Price Performance

The stock has a 50 day moving average of $44.32 and a 200-day moving average of $42.95. The stock has a market capitalization of $3.07 billion, a P/E ratio of 139.11 and a beta of 1.12. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 0.46.

PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, January 27th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.10. PotlatchDeltic had a net margin of 2.06% and a return on equity of 1.05%. On average, equities research analysts anticipate that PotlatchDeltic Co. will post 0.8 earnings per share for the current fiscal year.

PotlatchDeltic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a $0.45 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.80 dividend on an annualized basis and a yield of 4.62%. PotlatchDeltic’s dividend payout ratio is currently 642.86%.

Insider Activity

In other news, CFO Wayne Wasechek sold 1,293 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $44.82, for a total value of $57,952.26. Following the completion of the sale, the chief financial officer now owns 27,701 shares in the company, valued at approximately $1,241,558.82. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michele Tyler sold 3,170 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $44.72, for a total transaction of $141,762.40. Following the transaction, the vice president now owns 39,446 shares in the company, valued at approximately $1,764,025.12. This represents a 7.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,651 shares of company stock valued at $834,770. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On PotlatchDeltic

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCH. GAMMA Investing LLC boosted its holdings in shares of PotlatchDeltic by 6,678.1% in the 1st quarter. GAMMA Investing LLC now owns 30,366 shares of the real estate investment trust’s stock valued at $1,370,000 after buying an additional 29,918 shares in the last quarter. Wellington Management Group LLP increased its position in shares of PotlatchDeltic by 2.3% during the fourth quarter. Wellington Management Group LLP now owns 1,061,497 shares of the real estate investment trust’s stock worth $41,664,000 after purchasing an additional 23,975 shares in the last quarter. Comprehensive Money Management Services LLC purchased a new stake in shares of PotlatchDeltic during the 4th quarter valued at $366,000. Mackenzie Financial Corp grew its stake in PotlatchDeltic by 88.9% during the 4th quarter. Mackenzie Financial Corp now owns 18,461 shares of the real estate investment trust’s stock worth $725,000 after buying an additional 8,689 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in PotlatchDeltic by 7.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 91,631 shares of the real estate investment trust’s stock valued at $3,597,000 after buying an additional 6,383 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.