Potlatchdeltic (NASDAQ:PCH) Downgraded by Royal Bank of Canada

Potlatchdeltic (NASDAQ:PCH) was downgraded by equities researchers at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. They currently have a $42.00 price target on the real estate investment trust’s stock. Royal Bank of Canada’s target price points to a potential upside of 13.64% from the company’s current price.

A number of other analysts have also recently issued reports on PCH. ValuEngine raised Potlatchdeltic from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Bank of America raised Potlatchdeltic from a “neutral” rating to a “buy” rating and set a $37.88 price target for the company in a research report on Friday, April 5th. Vertical Research cut Potlatchdeltic from a “buy” rating to a “hold” rating and set a $39.00 price target for the company. in a research report on Friday, April 12th. Zacks Investment Research cut Potlatchdeltic from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th. Finally, Seaport Global Securities began coverage on Potlatchdeltic in a research report on Tuesday, April 2nd. They issued a “buy” rating and a $45.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Potlatchdeltic currently has a consensus rating of “Hold” and a consensus price target of $43.27.

PCH traded up $0.38 during trading on Wednesday, reaching $36.96. 9,405 shares of the stock traded hands, compared to its average volume of 326,516. The stock has a market cap of $2.67 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 8.46 and a beta of 1.42. Potlatchdeltic has a fifty-two week low of $28.07 and a fifty-two week high of $48.70. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.19 and a current ratio of 1.58. The firm’s 50-day moving average price is $38.63.

Potlatchdeltic (NASDAQ:PCH) last released its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. The firm had revenue of $215.60 million during the quarter, compared to analysts’ expectations of $210.17 million. Potlatchdeltic had a return on equity of 6.46% and a net margin of 9.50%. The business’s revenue for the quarter was down 19.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 earnings per share. On average, equities research analysts expect that Potlatchdeltic will post 0.9 EPS for the current year.

In related news, Director John S. Moody sold 1,781 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $33.68, for a total transaction of $59,984.08. Following the completion of the transaction, the director now owns 2,617 shares of the company’s stock, valued at approximately $88,140.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. lifted its position in Potlatchdeltic by 107.8% during the fourth quarter. Advisor Group Inc. now owns 1,253 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 650 shares during the period. Dimensional Fund Advisors LP lifted its position in Potlatchdeltic by 113.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 25,030 shares of the real estate investment trust’s stock worth $792,000 after buying an additional 13,286 shares during the period. Municipal Employees Retirement System of Michigan purchased a new position in Potlatchdeltic during the fourth quarter worth about $514,000. Legal & General Group Plc lifted its position in Potlatchdeltic by 15.5% during the fourth quarter. Legal & General Group Plc now owns 70,272 shares of the real estate investment trust’s stock worth $2,223,000 after buying an additional 9,448 shares during the period. Finally, Amalgamated Bank lifted its position in Potlatchdeltic by 7.8% during the fourth quarter. Amalgamated Bank now owns 9,606 shares of the real estate investment trust’s stock worth $304,000 after buying an additional 697 shares during the period. 87.59% of the stock is owned by institutional investors and hedge funds.

About Potlatchdeltic

PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 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 medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland sales program.

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Analyst Recommendations for Potlatchdeltic (NASDAQ:PCH)

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