PotlatchDeltic Co. (NASDAQ:PCH) Short Interest Down 15.1% in June

PotlatchDeltic Co. (NASDAQ:PCH) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 1,070,000 shares, a drop of 15.1% from the May 31st total of 1,260,000 shares. Based on an average daily trading volume, of 393,000 shares, the short-interest ratio is presently 2.7 days.

Hedge Funds Weigh In On PotlatchDeltic

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCH. Windward Capital Management Co. CA boosted its position in shares of PotlatchDeltic by 0.4% in the 4th 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. Franklin Resources Inc. boosted its stake in PotlatchDeltic by 1.5% in the 4th quarter. Franklin Resources Inc. now owns 27,287 shares of the real estate investment trust’s stock worth $1,340,000 after purchasing an additional 395 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in PotlatchDeltic by 0.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 106,448 shares of the real estate investment trust’s stock valued at $5,005,000 after purchasing an additional 413 shares in the last quarter. M&T Bank Corp lifted its stake in shares of PotlatchDeltic by 0.7% during the fourth quarter. M&T Bank Corp now owns 57,776 shares of the real estate investment trust’s stock worth $2,836,000 after buying an additional 423 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in shares of PotlatchDeltic by 2.2% during the first quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the real estate investment trust’s stock valued at $1,072,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Stock Down 0.7 %

PCH stock traded down $0.26 during trading on Tuesday, hitting $37.52. 154,789 shares of the company’s stock traded hands, compared to its average volume of 421,949. The business has a fifty day simple moving average of $41.72 and a two-hundred day simple moving average of $44.53. The company has a quick ratio of 1.12, a current ratio of 1.42 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $2.98 billion, a P/E ratio of 65.91, a PEG ratio of 3.12 and a beta of 1.12. PotlatchDeltic has a 1 year low of $37.21 and a 1 year high of $54.44.

PotlatchDeltic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date was Friday, June 7th. PotlatchDeltic’s dividend payout ratio (DPR) is currently 315.80%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada upgraded PotlatchDeltic from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $45.00 to $46.00 in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $50.67.

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.