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

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

Analyst Ratings Changes

PCH has been the subject of a number of research analyst reports. BMO Capital Markets upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 target price for the company in a research note on Friday, December 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 target price on shares of PotlatchDeltic in a report on Wednesday, October 30th. Truist Financial dropped their target price on PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Raymond James raised shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a report on Monday, December 23rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, PotlatchDeltic currently has an average rating of “Moderate Buy” and an average target price of $47.83.

Hedge Funds Weigh In On PotlatchDeltic

Hedge funds and other institutional investors have recently made changes to their positions in the company. Procyon Advisors LLC lifted its holdings in PotlatchDeltic by 37.3% in the 4th quarter. Procyon Advisors LLC now owns 9,241 shares of the real estate investment trust’s stock valued at $363,000 after purchasing an additional 2,511 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in shares of PotlatchDeltic in the fourth quarter valued at about $1,773,000. JPMorgan Chase & Co. lifted its stake in shares of PotlatchDeltic by 22.2% in the third quarter. JPMorgan Chase & Co. now owns 900,447 shares of the real estate investment trust’s stock worth $40,565,000 after buying an additional 163,774 shares in the last quarter. TCW Group Inc. acquired a new position in PotlatchDeltic during the third quarter worth about $1,923,000. Finally, Neo Ivy Capital Management acquired a new position in PotlatchDeltic during the third quarter worth about $376,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.

PotlatchDeltic Price Performance

NASDAQ PCH traded up $0.89 on Thursday, hitting $41.83. The company had a trading volume of 290,986 shares, compared to its average volume of 415,599. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.93. The company’s fifty day moving average price is $41.47 and its 200-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. PotlatchDeltic has a 12-month low of $37.06 and a 12-month high of $48.08.

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

PotlatchDeltic Dividend Announcement

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

PotlatchDeltic Company Profile

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.