PotlatchDeltic (NASDAQ:PCH) Lifted to Buy at Bank of America

PotlatchDeltic (NASDAQ:PCH) was upgraded by research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Thursday, Marketbeat reports. The firm currently has a $51.00 price objective on the real estate investment trust’s stock. Bank of America‘s target price would indicate a potential upside of 12.53% from the stock’s previous close.

Several other analysts also recently weighed in on PCH. StockNews.com upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Truist Financial reduced their price target on shares of PotlatchDeltic from $49.00 to $42.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada raised their price objective on PotlatchDeltic from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $47.67.

PotlatchDeltic Stock Up 2.7 %

PotlatchDeltic stock opened at $45.32 on Thursday. The stock has a market cap of $3.58 billion, a PE ratio of 79.51, a P/E/G ratio of 995.32 and a beta of 1.13. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.00. The stock’s fifty day moving average is $42.06 and its two-hundred day moving average is $42.68. PotlatchDeltic has a 1-year low of $37.06 and a 1-year high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The business had revenue of $320.70 million for the quarter, compared to analyst estimates of $305.01 million. PotlatchDeltic had a return on equity of 1.14% and a net margin of 3.45%. The business’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the company earned $0.06 EPS.

Insider Activity at PotlatchDeltic

In related news, VP Ashlee Townsend Cribb sold 4,114 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $43.11, for a total transaction of $177,354.54. Following the transaction, the vice president now owns 29,039 shares of the company’s stock, valued at $1,251,871.29. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On PotlatchDeltic

Several hedge funds have recently modified their holdings of PCH. Bessemer Group Inc. boosted its holdings in PotlatchDeltic by 370.7% in the 1st quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 556 shares in the last quarter. Independence Bank of Kentucky purchased a new stake in shares of PotlatchDeltic in the second quarter valued at approximately $51,000. Beach Investment Counsel Inc. PA purchased a new stake in shares of PotlatchDeltic in the second quarter valued at approximately $59,000. Quarry LP acquired a new position in PotlatchDeltic during the second quarter worth $82,000. Finally, Quest Partners LLC purchased a new position in PotlatchDeltic in the second quarter worth $85,000. 86.06% of the stock is owned by institutional investors and hedge funds.

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.