Potlatchdeltic Corp (NASDAQ:PCH) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 1,260,000 shares, a decline of 20.8% from the August 15th total of 1,590,000 shares. Based on an average trading volume of 467,700 shares, the short-interest ratio is presently 2.7 days. Approximately 2.0% of the shares of the stock are short sold.
Several hedge funds have recently modified their holdings of the company. Ellevest Inc. raised its holdings in Potlatchdeltic by 10,041.7% in the 2nd quarter. Ellevest Inc. now owns 1,217 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,205 shares during the period. Macquarie Group Ltd. bought a new position in Potlatchdeltic in the 2nd quarter valued at about $92,000. Baker Ellis Asset Management LLC bought a new position in Potlatchdeltic in the 2nd quarter valued at about $165,000. Advisor Group Holdings Inc. bought a new position in Potlatchdeltic in the 1st quarter valued at about $173,000. Finally, IndexIQ Advisors LLC bought a new position in Potlatchdeltic in the 1st quarter valued at about $190,000. 85.32% of the stock is currently owned by institutional investors.
Shares of Potlatchdeltic stock traded down $0.78 during trading hours on Wednesday, reaching $42.34. 17,725 shares of the company’s stock were exchanged, compared to its average volume of 453,179. The company has a 50 day moving average of $44.71 and a two-hundred day moving average of $37.16. Potlatchdeltic has a fifty-two week low of $22.40 and a fifty-two week high of $48.13. The company has a current ratio of 1.40, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $2.88 billion, a P/E ratio of 163.70 and a beta of 1.37.
Potlatchdeltic (NASDAQ:PCH) last posted its quarterly earnings data on Monday, July 27th. The real estate investment trust reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.05. The company had revenue of $181.56 million during the quarter, compared to the consensus estimate of $173.89 million. Potlatchdeltic had a net margin of 2.17% and a return on equity of 4.19%. The company’s quarterly revenue was down 15.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. As a group, analysts expect that Potlatchdeltic will post 2.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.40 dividend. The ex-dividend date is Monday, September 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.78%. Potlatchdeltic’s payout ratio is 200.00%.
A number of research firms have recently issued reports on PCH. Bank of America cut shares of Potlatchdeltic from a “buy” rating to a “neutral” rating and set a $48.00 target price for the company. in a research note on Friday, September 11th. Royal Bank of Canada upgraded shares of Potlatchdeltic from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $40.00 to $45.00 in a research report on Friday, July 10th. BofA Securities cut shares of Potlatchdeltic from a “buy” rating to a “neutral” rating in a research report on Friday, September 11th. Zacks Investment Research upgraded shares of Potlatchdeltic from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Tuesday, June 2nd. Finally, BidaskClub cut shares of Potlatchdeltic from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $44.80.
PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 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 medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland sales program.
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