PotlatchDeltic (NASDAQ:PCH) Raised to Hold at StockNews.com

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

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

PotlatchDeltic Price Performance

Shares of NASDAQ PCH opened at $41.50 on Tuesday. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 197.62 and a beta of 1.14. PotlatchDeltic has a 52 week low of $37.06 and a 52 week high of $50.04. The company’s 50-day moving average price is $43.40 and its 200 day moving average price is $42.26. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42.

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

Institutional Investors Weigh In On PotlatchDeltic

Hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. raised its holdings in PotlatchDeltic by 370.7% in the first quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 556 shares during the period. Independence Bank of Kentucky purchased a new position in PotlatchDeltic in the second quarter valued at approximately $51,000. Beach Investment Counsel Inc. PA purchased a new position in PotlatchDeltic in the second quarter valued at approximately $59,000. Quarry LP purchased a new position in PotlatchDeltic in the second quarter valued at approximately $82,000. Finally, Quest Partners LLC purchased a new position in PotlatchDeltic in the second quarter valued at approximately $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.