PotlatchDeltic Co. (NASDAQ:PCH) Sees Large Increase in Short Interest

PotlatchDeltic Co. (NASDAQ:PCH - Get Free Report) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 1,380,000 shares, a growth of 17.9% from the April 30th total of 1,170,000 shares. Approximately 1.8% of the shares of the stock are sold short. Based on an average trading volume of 541,000 shares, the short-interest ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PCH. Citigroup lowered their price objective on shares of PotlatchDeltic from $49.00 to $47.00 and set a "buy" rating on the stock in a research note on Tuesday. Truist Financial decreased their target price on shares of PotlatchDeltic from $44.00 to $42.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.57.

Hedge Funds Weigh In On PotlatchDeltic

Institutional investors have recently modified their holdings of the stock. Quarry LP raised its position in shares of PotlatchDeltic by 224.2% in the 4th quarter. Quarry LP now owns 697 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 482 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of PotlatchDeltic by 168.1% in the first quarter. Harbor Capital Advisors Inc. now owns 665 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 417 shares during the last quarter. Costello Asset Management INC acquired a new stake in PotlatchDeltic in the first quarter valued at $30,000. UMB Bank n.a. increased its position in PotlatchDeltic by 41.6% during the first quarter. UMB Bank n.a. now owns 864 shares of the real estate investment trust's stock worth $39,000 after buying an additional 254 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of PotlatchDeltic during the 1st quarter worth approximately $52,000. 86.06% of the stock is owned by institutional investors.

PotlatchDeltic Stock Down 0.4%

NASDAQ:PCH traded down $0.14 during mid-day trading on Wednesday, reaching $38.66. The stock had a trading volume of 510,436 shares, compared to its average volume of 472,995. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.49 and a quick ratio of 1.08. PotlatchDeltic has a fifty-two week low of $36.82 and a fifty-two week high of $48.12. The business's 50 day moving average is $39.46 and its 200 day moving average is $41.88. The stock has a market cap of $3.04 billion, a P/E ratio of 138.07 and a beta of 1.16.

PotlatchDeltic (NASDAQ:PCH - Get Free Report) last announced its earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.13. The firm had revenue of $268.26 million during the quarter, compared to the consensus estimate of $243.68 million. PotlatchDeltic had a return on equity of 1.05% and a net margin of 2.06%. The business's revenue was up 17.6% on a year-over-year basis. As a group, sell-side analysts predict that PotlatchDeltic will post 0.8 earnings per share for the current year.

PotlatchDeltic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date is Friday, June 6th. PotlatchDeltic's dividend payout ratio (DPR) is currently 295.08%.

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.

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