StockNews.com Upgrades PotlatchDeltic (NASDAQ:PCH) to “Hold”

PotlatchDeltic (NASDAQ:PCH) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Several other research analysts have also recently issued reports on the company. Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Thursday, September 12th. Truist Financial boosted their target price on shares of PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $50.00 target price on shares of PotlatchDeltic in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, PotlatchDeltic presently has a consensus rating of “Hold” and an average target price of $48.67.

PotlatchDeltic Stock Performance

Shares of NASDAQ PCH traded down $1.09 during midday trading on Tuesday, hitting $41.31. 344,869 shares of the company’s stock were exchanged, compared to its average volume of 434,697. 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 stock’s 50 day moving average price is $43.46 and its 200-day moving average price is $42.26. The firm has a market cap of $3.25 billion, a P/E ratio of 196.71 and a beta of 1.14. PotlatchDeltic has a twelve month low of $37.06 and a twelve month high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.08. The business had revenue of $255.10 million during the quarter, compared to the consensus estimate of $241.35 million. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The business’s revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 earnings per share. Equities research analysts anticipate that PotlatchDeltic will post 0.15 EPS for the current year.

Institutional Investors Weigh In On PotlatchDeltic

Hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. raised its position in PotlatchDeltic by 370.7% in the first quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 556 shares in the last quarter. Independence Bank of Kentucky acquired a new stake in shares of PotlatchDeltic during the second quarter worth approximately $51,000. Beach Investment Counsel Inc. PA acquired a new stake in shares of PotlatchDeltic during the second quarter worth approximately $59,000. Quarry LP bought a new stake in shares of PotlatchDeltic during the second quarter valued at approximately $82,000. Finally, Quest Partners LLC bought a new stake in shares of PotlatchDeltic during the second quarter valued at approximately $85,000. 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.