PotlatchDeltic (NASDAQ:PCH) Upgraded to “Outperform” at Royal Bank of Canada

PotlatchDeltic (NASDAQ:PCH) was upgraded by investment analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Wednesday, Marketbeat reports. The firm currently has a $46.00 price target on the real estate investment trust’s stock, up from their prior price target of $45.00. Royal Bank of Canada’s price target indicates a potential upside of 14.97% from the company’s previous close.

Separately, Truist Financial dropped their price objective on shares of PotlatchDeltic from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, PotlatchDeltic currently has a consensus rating of “Hold” and a consensus target price of $50.67.

PotlatchDeltic Stock Performance

PCH stock opened at $40.01 on Wednesday. PotlatchDeltic has a 1-year low of $39.86 and a 1-year high of $54.44. The company has a current ratio of 1.44, a quick ratio of 1.14 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $44.64 and a 200-day moving average price of $45.63. The firm has a market cap of $3.18 billion, a PE ratio of 70.19 and a beta of 1.15.

Insider Buying and Selling at PotlatchDeltic

In other PotlatchDeltic news, CEO Eric J. Cremers sold 17,591 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $45.13, for a total value of $793,881.83. Following the transaction, the chief executive officer now owns 241,111 shares of the company’s stock, valued at $10,881,339.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Wayne Wasechek sold 1,565 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $45.13, for a total transaction of $70,628.45. Following the completion of the transaction, the chief financial officer now directly owns 21,247 shares of the company’s stock, valued at approximately $958,877.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric J. Cremers sold 17,591 shares of PotlatchDeltic stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $45.13, for a total transaction of $793,881.83. Following the completion of the sale, the chief executive officer now directly owns 241,111 shares in the company, valued at approximately $10,881,339.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,124 shares of company stock worth $1,043,626. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On PotlatchDeltic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC raised its holdings in PotlatchDeltic by 2,132.0% during the 3rd quarter. Manchester Capital Management LLC now owns 558 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 533 shares during the period. Millburn Ridgefield Corp purchased a new position in shares of PotlatchDeltic in the third quarter valued at $28,000. Fifth Third Bancorp raised its stake in shares of PotlatchDeltic by 43.8% during the 3rd quarter. Fifth Third Bancorp now owns 1,002 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 305 shares during the period. Planned Solutions Inc. purchased a new stake in PotlatchDeltic during the 4th quarter worth about $60,000. Finally, VitalStone Financial LLC boosted its stake in PotlatchDeltic by 109.6% in the 3rd quarter. VitalStone Financial LLC now owns 3,608 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 1,887 shares during the period. 86.06% of the stock is currently owned by institutional investors.

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.