Short Interest in PotlatchDeltic Co. (NASDAQ:PCH) Drops By 14.6%

PotlatchDeltic Co. (NASDAQ:PCH) was the recipient of a large decrease in short interest during 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 daily trading volume, of 413,000 shares, the short-interest ratio is presently 2.7 days.

PotlatchDeltic Trading Up 1.2 %

Shares of PotlatchDeltic stock traded up $0.49 on Friday, hitting $42.32. The stock had a trading volume of 354,506 shares, compared to its average volume of 423,610. The stock’s 50-day simple moving average is $41.45 and its two-hundred day simple moving average is $42.14. PotlatchDeltic has a one year low of $37.06 and a one year high of $48.08. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 201.52 and a beta of 1.16.

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

PotlatchDeltic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Monday, December 16th. PotlatchDeltic’s payout ratio is 857.14%.

Institutional Trading of PotlatchDeltic

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC purchased a new stake in shares of PotlatchDeltic in the 2nd quarter worth about $85,000. Oppenheimer Asset Management Inc. grew its holdings in PotlatchDeltic by 60.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,414 shares of the real estate investment trust’s stock worth $292,000 after purchasing an additional 2,799 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of PotlatchDeltic during the second quarter valued at approximately $1,479,000. Renaissance Technologies LLC lifted 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 purchasing an additional 98,123 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its position in shares of PotlatchDeltic by 7.1% in the 2nd quarter. Moors & Cabot Inc. now owns 13,189 shares of the real estate investment trust’s stock worth $520,000 after purchasing an additional 871 shares in the last quarter. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on PCH. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 price target on shares of PotlatchDeltic in a report on Wednesday, October 30th. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Raymond James upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Monday, December 23rd. BMO Capital Markets raised shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a report on Friday, December 6th. Finally, Truist Financial reduced 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.