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PotlatchDeltic

Nasdaq:PCH
Snowflake Description

Moderate growth potential second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PCH
Nasdaq
$3B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 1.9 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. The last earnings update was 22 days ago. More info.


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PCH Share Price and Events
7 Day Returns
-1.2%
NasdaqGS:PCH
1.4%
US REITs
0.5%
US Market
1 Year Returns
18.5%
NasdaqGS:PCH
15.7%
US REITs
16.1%
US Market
PCH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PotlatchDeltic (PCH) -1.2% -0.1% 18.4% 18.5% 1.3% 3.4%
US REITs 1.4% -2.3% 1.9% 15.7% 22.8% 23.5%
US Market 0.5% 3.9% 6.6% 16.1% 37.7% 43.7%
1 Year Return vs Industry and Market
  • PCH outperformed the REITs industry which returned 15.7% over the past year.
  • PCH outperformed the Market in United States of America which returned 16.1% over the past year.
Price Volatility
PCH
Industry
5yr Volatility vs Market

Value

 Is PotlatchDeltic undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of PotlatchDeltic to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for PotlatchDeltic.

NasdaqGS:PCH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:PCH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.468 (1 + (1- 21%) (27.61%))
0.712
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NasdaqGS:PCH using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for PotlatchDeltic is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NasdaqGS:PCH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.5%)
2020 121.00 Analyst x2 112.56
2021 137.00 Analyst x1 118.55
2022 138.08 Est @ 0.79% 111.16
2023 139.98 Est @ 1.37% 104.82
2024 142.47 Est @ 1.78% 99.25
2025 145.41 Est @ 2.06% 94.23
2026 148.71 Est @ 2.26% 89.64
2027 152.28 Est @ 2.4% 85.40
2028 156.09 Est @ 2.5% 81.43
2029 160.10 Est @ 2.57% 77.70
Present value of next 10 years cash flows $974.00
NasdaqGS:PCH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $160.10 × (1 + 2.73%) ÷ (7.5% – 2.73%)
$3,449.52
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,449.52 ÷ (1 + 7.5%)10
$1,674.00
NasdaqGS:PCH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $974.00 + $1,674.00
$2,648.00
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,648.00 / 67.22
$39.39
NasdaqGS:PCH Discount to Share Price
Calculation Result
Value per share (USD) From above. $39.39
Current discount Discount to share price of $43.21
= -1 x ($43.21 - $39.39) / $39.39
-9.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of PotlatchDeltic is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for PotlatchDeltic's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PotlatchDeltic's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:PCH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $0.68
NasdaqGS:PCH Share Price ** NasdaqGS (2019-11-21) in USD $43.21
United States of America REITs Industry PE Ratio Median Figure of 144 Publicly-Listed REITs Companies 38.55x
United States of America Market PE Ratio Median Figure of 2,917 Publicly-Listed Companies 18.02x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of PotlatchDeltic.

NasdaqGS:PCH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:PCH Share Price ÷ EPS (both in USD)

= 43.21 ÷ 0.68

63.12x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PotlatchDeltic is overvalued based on earnings compared to the US REITs industry average.
  • PotlatchDeltic is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does PotlatchDeltic's expected growth come at a high price?
Raw Data
NasdaqGS:PCH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 63.12x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
28.9%per year
United States of America REITs Industry PEG Ratio Median Figure of 133 Publicly-Listed REITs Companies 2.41x
United States of America Market PEG Ratio Median Figure of 2,043 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

NasdaqGS:PCH PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 63.12x ÷ 28.9%

2.18x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PotlatchDeltic is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on PotlatchDeltic's assets?
Raw Data
NasdaqGS:PCH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $18.38
NasdaqGS:PCH Share Price * NasdaqGS (2019-11-21) in USD $43.21
United States of America REITs Industry PB Ratio Median Figure of 183 Publicly-Listed REITs Companies 1.97x
United States of America Market PB Ratio Median Figure of 5,089 Publicly-Listed Companies 1.75x
NasdaqGS:PCH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:PCH Share Price ÷ Book Value per Share (both in USD)

= 43.21 ÷ 18.38

2.35x

* Primary Listing of PotlatchDeltic.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PotlatchDeltic is overvalued based on assets compared to the US REITs industry average.
X
Value checks
We assess PotlatchDeltic's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. PotlatchDeltic has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is PotlatchDeltic expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
28.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PotlatchDeltic expected to grow at an attractive rate?
  • PotlatchDeltic's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • PotlatchDeltic's earnings growth is expected to exceed the United States of America market average.
  • PotlatchDeltic's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:PCH Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:PCH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 28.9%
NasdaqGS:PCH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 6.7%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 7.1%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:PCH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:PCH Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 960 187 91 2
2020-12-31 905 173 67 6
2019-12-31 840 142 51 5
2019-11-21
NasdaqGS:PCH Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 841 136 46
2019-06-30 904 151 86
2019-03-31 956 163 115
2018-12-31 975 179 123
2018-09-30 933 182 133
2018-06-30 834 179 106
2018-03-31 729 156 84
2017-12-31 679 163 86
2017-09-30 659 157 89
2017-06-30 643 136 83
2017-03-31 621 115 28
2016-12-31 599 102 11

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PotlatchDeltic's earnings are expected to grow significantly at over 20% yearly.
  • PotlatchDeltic's revenue is expected to grow by 6.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:PCH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from PotlatchDeltic Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:PCH Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.35 1.35 1.35 1.00
2020-12-31 1.00 1.25 0.75 5.00
2019-12-31 0.75 0.77 0.72 3.00
2019-11-21
NasdaqGS:PCH Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 0.68
2019-06-30 1.30
2019-03-31 1.77
2018-12-31 2.03
2018-09-30 2.44
2018-06-30 2.17
2018-03-31 1.95
2017-12-31 2.12
2017-09-30 2.19
2017-06-30 2.04
2017-03-31 0.68
2016-12-31 0.27

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if PotlatchDeltic will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess PotlatchDeltic's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
PotlatchDeltic has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has PotlatchDeltic performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare PotlatchDeltic's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • PotlatchDeltic's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • PotlatchDeltic's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • PotlatchDeltic's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
PotlatchDeltic's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from PotlatchDeltic Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:PCH Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 840.85 46.06 63.15
2019-06-30 903.75 85.83 66.59
2019-03-31 956.40 114.84 69.55
2018-12-31 974.58 122.88 67.51
2018-09-30 932.57 132.67 65.06
2018-06-30 833.82 106.03 63.05
2018-03-31 728.81 84.13 58.62
2017-12-31 678.60 86.45 56.38
2017-09-30 659.03 89.24 55.46
2017-06-30 642.62 83.18 52.50
2017-03-31 620.88 27.70 51.96
2016-12-31 599.10 10.94 53.40
2016-09-30 581.41 0.11 50.09
2016-06-30 581.86 -5.73 48.90
2016-03-31 569.11 26.22 47.08
2015-12-31 575.34 31.71 46.39
2015-09-30 583.58 48.30 46.87
2015-06-30 586.32 59.66 46.95
2015-03-31 601.50 75.22 47.30
2014-12-31 606.95 89.91 44.66
2014-09-30 600.67 83.50 46.03
2014-06-30 581.32 72.53 48.71
2014-03-31 570.62 75.44 46.48
2013-12-31 570.29 70.58 50.40
2013-09-30 573.63 70.72 50.58
2013-06-30 567.68 67.13 50.48
2013-03-31 552.00 53.03 52.13
2012-12-31 525.13 42.59 49.42

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • PotlatchDeltic has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • PotlatchDeltic used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • PotlatchDeltic's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess PotlatchDeltic's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
PotlatchDeltic has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is PotlatchDeltic's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up PotlatchDeltic's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PotlatchDeltic is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • PotlatchDeltic's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of PotlatchDeltic's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from PotlatchDeltic Company Filings, last reported 1 month ago.

NasdaqGS:PCH Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 1,235.73 785.67 94.75
2019-06-30 1,246.05 777.42 97.97
2019-03-31 1,278.39 767.03 104.79
2018-12-31 1,314.78 758.25 76.64
2018-09-30 1,179.07 783.90 137.54
2018-06-30 1,360.93 783.91 125.72
2018-03-31 1,335.44 784.64 102.34
2017-12-31 200.54 573.32 120.47
2017-09-30 191.19 579.51 116.86
2017-06-30 170.33 579.32 110.42
2017-03-31 159.26 584.14 101.82
2016-12-31 156.27 584.08 82.62
2016-09-30 155.76 585.37 32.79
2016-06-30 140.54 586.29 25.38
2016-03-31 190.48 627.71 7.79
2015-12-31 203.74 633.88 7.93
2015-09-30 215.04 630.18 1.42
2015-06-30 205.29 644.26 9.02
2015-03-31 216.99 629.65 9.50
2014-12-31 225.07 630.05 4.64
2014-09-30 245.76 319.75 8.30
2014-06-30 224.34 320.00 9.25
2014-03-31 211.30 320.01 9.36
2013-12-31 204.15 323.01 5.59
2013-09-30 167.71 320.23 5.99
2013-06-30 154.80 320.13 6.41
2013-03-31 143.81 329.76 4.28
2012-12-31 138.64 361.45 16.99
  • PotlatchDeltic's level of debt (63.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (131.6% vs 63.6% today).
  • Debt is not well covered by operating cash flow (17.3%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess PotlatchDeltic's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. PotlatchDeltic has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is PotlatchDeltic's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.7%
Current annual income from PotlatchDeltic dividends. Estimated to be 3.75% next year.
If you bought $2,000 of PotlatchDeltic shares you are expected to receive $74 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • PotlatchDeltic's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
  • PotlatchDeltic's dividend is above the markets top 25% of dividend payers in United States of America (3.65%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:PCH Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 175 Stocks 3.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1954 Stocks 2.3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:PCH Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.70 2.00
2020-12-31 1.61 5.00
2019-12-31 1.60 5.00
2019-11-21
NasdaqGS:PCH Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-08-29 1.600 3.839
2019-05-10 1.600 4.291
2019-02-15 1.600 4.267
2018-12-07 1.600 4.706
2018-08-31 1.600 4.089
2018-05-09 1.600 3.297
2018-02-16 1.600 3.084
2017-10-23 1.600 3.094
2017-08-31 1.500 2.990
2017-05-03 1.500 3.253
2017-02-17 1.500 3.315
2016-12-02 1.500 3.571
2016-09-09 1.500 3.848
2016-05-04 1.500 4.189
2016-02-12 1.500 4.948
2015-12-04 1.500 5.259
2015-09-04 1.500 4.823
2015-05-12 1.500 4.265
2015-02-13 1.500 3.870
2014-12-08 1.500 3.614
2014-09-05 1.400 3.344
2014-05-08 1.400 3.416
2014-02-14 1.400 3.615
2013-12-06 1.400 3.464
2013-09-06 1.240 3.087
2013-05-09 1.240 2.889
2013-02-15 1.240 2.718
2012-12-07 1.240 3.001
2012-09-07 1.240 3.249
2012-05-10 1.240 3.835
2012-02-17 1.240 4.010
2011-12-05 1.240 3.946
2011-09-09 2.040 6.374
2011-05-12 2.040 5.955
2011-02-18 2.040 5.314
2010-12-03 2.040 5.914
2010-07-15 2.040 5.923
2010-05-14 2.040 5.679
2010-02-16 2.040 5.694
2009-12-04 2.040 6.426
2009-07-16 2.040 7.094
2009-05-15 2.040 8.069
2009-02-18 2.040 8.519
2008-12-05 2.040 7.963

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of PotlatchDeltic's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.8x coverage).
X
Income/ dividend checks
We assess PotlatchDeltic's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can PotlatchDeltic afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PotlatchDeltic has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of PotlatchDeltic's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mike Covey
COMPENSATION $4,947,922
AGE 61
TENURE AS CEO 13.8 years
CEO Bio

Mr. Michael J. Covey, also known as Mike, has been the Chief Executive Officer of PotlatchDeltic Corporation (formerly, Potlatch Corporation) since February 6, 2006 and served as President since February 6, 2006 until March 1, 2013. Mr. Covey served as the President and Chief Executive Officer at Clearwater Paper Corporation until December 2008. He served as an Executive Vice President at Plum Creek Timber Co. Inc. from August 2001 to December 2, 2005. Mr. Covey served as Plum Creek Timber Company Inc.'s Senior Vice President from August 2000 to August 2001, Vice President of Resources from January 1998 to August 2000, General Manager of Rocky Mountain Timberlands from August 1996 to January 1998, Director of Operations, Rocky Mountain Region from June 1995 to August 1996 and Plant Manager of Ksanka Sawmill from August, 1992 to June, 1995. Mr. Covey served for 23 years with Plum Creek Timber Company,Inc. until 2005. Mr. Covey started his career at Plum Creek in 1982 as a Financial Analyst and subsequently managed lumber and plywood operations in the intermountain region and also served as its Manager of Planning and Budgeting. Mr. Covey’s long and ongoing experience as an acting Chief Executive Officer has a valuable executive-level perspective to the Board. He contributes helpful insights into all aspects of running a manufacturing business, enhancing in particular the Board’s oversight of operations and financial management. Through his extensive background in senior-level management, Mr. Covey also possesses experience with strategy development and execution as well as capital deployment, which benefit and strengthen the Board’s oversight in these areas. He has been the Chairman of the Board at PotlatchDeltic Corporation since January 1, 2007 and has been its Director since February 6, 2006. He has been an Independent Director of Esterline Technologies Corporation since May 16, 2017. He served as a Director of Clearwater Paper Corporation until December 2008. Mr. Covey holds a Master's in Business Administration in forestry from the University of Oregon and a bachelor of science in forestry from University of Montana.

CEO Compensation
  • Mike's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Mike's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the PotlatchDeltic management team in years:

3.9
Average Tenure
54
Average Age
  • The tenure for the PotlatchDeltic management team is about average.
Management Team

Mike Covey

TITLE
Chairman & CEO
COMPENSATION
$5M
AGE
61
TENURE
13.8 yrs

Eric Cremers

TITLE
President
COMPENSATION
$2M
AGE
55
TENURE
6.7 yrs

Jerry Richards

TITLE
VP & CFO
COMPENSATION
$1M
AGE
51
TENURE
6.2 yrs

Thomas Temple

TITLE
Vice President of Wood Products
COMPENSATION
$1M
AGE
62
TENURE
10.8 yrs

Darin Ball

TITLE
Vice President of Resource
COMPENSATION
$949K
AGE
53
TENURE
1.9 yrs

Wayne Wasechek

TITLE
Controller & Principal Accounting Officer
AGE
49
TENURE
1 yrs

Michele Tyler

TITLE
VP, General Counsel & Corporate Secretary
AGE
50
TENURE
0.3 yrs

Anna Torma

TITLE
Vice President of Public Affairs
TENURE
0.8 yrs

Robert Schwartz

TITLE
Vice President of Human Resources
TENURE
5.8 yrs

Lorrie Scott

TITLE
Executive
COMPENSATION
$1M
AGE
64
TENURE
0.3 yrs
Board of Directors Tenure

Average tenure and age of the PotlatchDeltic board of directors in years:

6.6
Average Tenure
62.5
Average Age
  • The tenure for the PotlatchDeltic board of directors is about average.
Board of Directors

Eric Cremers

TITLE
President
COMPENSATION
$2M
AGE
55
TENURE
6.7 yrs

Greg Quesnel

TITLE
Independent Director
COMPENSATION
$155K
AGE
70
TENURE
19.2 yrs

Mike Covey

TITLE
Chairman & CEO
COMPENSATION
$5M
AGE
61
TENURE
12.8 yrs

Larry Peiros

TITLE
Independent Director
COMPENSATION
$154K
AGE
64
TENURE
16.8 yrs

Bill Driscoll

TITLE
Independent Director
COMPENSATION
$138K
AGE
56
TENURE
15.8 yrs

Linda Breard

TITLE
Independent Director
COMPENSATION
$156K
AGE
49
TENURE
4.1 yrs

Charles Grenier

TITLE
Independent Director
COMPENSATION
$143K
AGE
70
TENURE
6.5 yrs

Christoph Keller

TITLE
Independent Director
COMPENSATION
$124K
AGE
64
TENURE
1.8 yrs

D. Leland

TITLE
Independent Director
COMPENSATION
$128K
AGE
57
TENURE
1.8 yrs

R. Pierson

TITLE
Independent Director
COMPENSATION
$122K
AGE
67
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
04. Jun 19 Sell John Moody Individual 04. Jun 19 04. Jun 19 -1,781 $33.68 $-59,985
19. Feb 19 Sell Michael Covey Individual 15. Feb 19 15. Feb 19 -40,722 $35.01 $-1,425,677
19. Feb 19 Sell Eric Cremers Individual 15. Feb 19 15. Feb 19 -11,644 $35.01 $-407,656
19. Feb 19 Sell Jerald Richards Individual 15. Feb 19 15. Feb 19 -9,390 $35.01 $-328,744
19. Feb 19 Sell William DeReu Individual 15. Feb 19 15. Feb 19 -4,628 $35.01 $-162,026
19. Feb 19 Sell Lorrie Scott Individual 15. Feb 19 15. Feb 19 -3,796 $35.01 $-132,898
19. Feb 19 Sell Thomas Temple Individual 15. Feb 19 15. Feb 19 -4,618 $35.01 $-161,676
19. Feb 19 Sell Darin Ball Individual 15. Feb 19 15. Feb 19 -949 $35.01 $-33,224
X
Management checks
We assess PotlatchDeltic's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. PotlatchDeltic has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is PotlatchDeltic Corporation (NASDAQ:PCH) Excessively Paying Its CEO?

First, this article will compare CEO compensation with compensation at similar sized companies. … View our latest analysis for PotlatchDeltic How Does Mike Covey's Compensation Compare With Similar Sized Companies? … According to our data, PotlatchDeltic Corporation has a market capitalization of US$2.6b, and pays its CEO total annual compensation worth US$4.9m.

Simply Wall St -

Should You Buy PotlatchDeltic Corporation (NASDAQ:PCH) For Its Dividend?

Today we'll take a closer look at PotlatchDeltic Corporation (NASDAQ:PCH) from a dividend investor's perspective. Owning a strong business and reinvesting the dividends is widely seen as an attractive way of growing your wealth. Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. With PotlatchDeltic yielding 4.3% and having paid a dividend for over 10 years, many investors likely find the company quite interesting. It would not be a surprise to discover that many investors buy it for the dividends. The company also bought back stock during the year, equivalent to approximately 1.0% of the company's market capitalisation at the time. Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1. … It's positive to see that PotlatchDeltic's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. … Dividend Growth Potential With a relatively unstable dividend, it's even more important to evaluate if earnings per share (EPS) are growing - it's not worth taking the risk on a dividend getting cut, unless you might be rewarded with larger dividends in future.

Simply Wall St -

If You Had Bought PotlatchDeltic (NASDAQ:PCH) Shares A Year Ago You'd Have A Total Return Of -8.4%

However, we note the price may have been impacted by the broader market, which is down 3.3% in the same time period. … When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. … Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on US exchanges.

Simply Wall St -

At US$38.73, Is PotlatchDeltic Corporation (NASDAQ:PCH) Worth Looking At Closely?

Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. … Its price has risen beyond its true value, on top of a negative future outlook. … If you are no longer interested in PotlatchDeltic, you can use our free platform to see my list of over 50 other stocks with a high growth potential.

Simply Wall St -

Why PotlatchDeltic Corporation (NASDAQ:PCH) Could Have A Place In Your Portfolio

NasdaqGS:PCH Income Statement, July 4th 2019 Next Steps: For PotlatchDeltic, I've put together three important factors you should look at: Future Outlook: What are well-informed industry analysts predicting for PCH’s future growth? … Take a look at our free research report of analyst consensus for PCH’s outlook. … The intrinsic value infographic in our free research report helps visualize whether PCH is currently mispriced by the market.

Simply Wall St -

What You Need To Know Before Investing In PotlatchDeltic Corporation (NASDAQ:PCH)

This tells us how long it will take PCH to pay off its debt using its income from its main business activities, and gives us an insight into PCH’s ability to service its borrowings. … In PCH’s case its P/FFO is 14.75x, compared to the long-term industry average of 16.5x, meaning that it is slightly undervalued. … Take a look at our free research report of analyst consensus for PCH’s outlook.

Simply Wall St -

Are Insiders Selling PotlatchDeltic Corporation (NASDAQ:PCH) Stock?

So before you buy or sell PotlatchDeltic Corporation (NASDAQ:PCH), you may well want to know whether insiders have been buying or selling. … See our latest analysis for PotlatchDeltic The Last 12 Months Of Insider Transactions At PotlatchDeltic In the last twelve months, the biggest single sale by an insider was when the Chairman & CEO, Michael Covey, sold US$1.4m worth of shares at a price of US$35.01 per share. … Insiders at PotlatchDeltic Have Sold Stock Recently The last three months saw significant insider selling at PotlatchDeltic.

Simply Wall St -

Before You Buy PotlatchDeltic Corporation (NASDAQ:PCH), Consider Its Volatility

Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one. … This is above 1, so historically its share price has been influenced by the broader volatility of the stock market.

Simply Wall St -

Is PotlatchDeltic Corporation (NASDAQ:PCH) An Attractive Dividend Stock?

Click the interactive chart for our full dividend analysis NasdaqGS:PCH Historical Dividend Yield, May 14th 2019 Payout ratios Dividends are usually paid out of company earnings. … As a result, we should always investigate whether a company can afford its dividend, measured as a percentage of a company's net income after tax. … PotlatchDeltic's is paying out more than half its income as dividends, but at least the dividend is covered both by reported earnings and cashflow.

Simply Wall St -

The PotlatchDeltic (NASDAQ:PCH) Share Price Is Down 25% So Some Shareholders Are Getting Worried

To paraphrase Benjamin Graham: Over the short term the market is a voting machine, but over the long term it's a weighing machine. … The share price decline of 25% is actually more than the EPS drop. … Unsurprisingly, given the lack of EPS growth, the market seems to be more cautious about the stock.

Simply Wall St -

Company Info

Description

PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 1.9 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 residential and commercial real estate development business and a rural timberland sales program. PotlatchDeltic, a leader in sustainable forest practices, is dedicated to long-term stewardship and sustainable management of its timber resources.

Details
Name: PotlatchDeltic Corporation
PCH
Exchange: NasdaqGS
Founded: 1903
$2,904,287,020
67,221,086
Website: http://www.potlatchdeltic.com
Address: PotlatchDeltic Corporation
601 West First Avenue,
Suite 1600,
Spokane,
Washington, 99201,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS PCH Common Stock Nasdaq Global Select US USD 02. Jan 1969
DB P4C Common Stock Deutsche Boerse AG DE EUR 02. Jan 1969
Number of employees
Current staff
Staff numbers
1,445
PotlatchDeltic employees.
Industry
Specialized REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/21 23:51
End of day share price update: 2019/11/21 00:00
Last estimates confirmation: 2019/10/31
Last earnings filing: 2019/10/30
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.