Potlatchdeltic (NASDAQ:PCH) Downgraded by ValuEngine to Hold

ValuEngine cut shares of Potlatchdeltic (NASDAQ:PCH) from a buy rating to a hold rating in a research note released on Thursday, ValuEngine reports.

Several other equities research analysts have also recently commented on the company. Bank of America upgraded Potlatchdeltic from a neutral rating to a buy rating and set a $37.88 price target for the company in a research note 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 note on Friday, April 12th. Royal Bank of Canada cut Potlatchdeltic from an outperform rating to a sector perform rating and set a $42.00 price target for the company. in a research note on Wednesday. Zacks Investment Research upgraded Potlatchdeltic from a sell rating to a hold rating in a research note on Wednesday. Finally, BidaskClub cut Potlatchdeltic from a buy rating to a hold rating in a research note on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Potlatchdeltic currently has an average rating of Hold and an average target price of $43.27.

PCH traded up $0.23 on Thursday, reaching $36.81. The company’s stock had a trading volume of 232,145 shares, compared to its average volume of 466,515. The business has a 50 day simple moving average of $38.62. The company has a quick ratio of 1.19, a current ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $2.49 billion, a P/E ratio of 16.14, 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.

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

In other news, Director John S. Moody sold 1,781 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $33.68, for a total value of $59,984.08. Following the completion of the transaction, the director now owns 2,617 shares in the company, valued at $88,140.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wealthcare Advisory Partners LLC boosted its stake in shares of Potlatchdeltic by 6.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 4,818 shares of the real estate investment trust’s stock valued at $182,000 after acquiring an additional 272 shares during the last quarter. Laurel Wealth Advisors Inc. boosted its stake in Potlatchdeltic by 1.4% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 23,248 shares of the real estate investment trust’s stock worth $879,000 after buying an additional 320 shares during the last quarter. Arizona State Retirement System boosted its stake in Potlatchdeltic by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 49,054 shares of the real estate investment trust’s stock worth $1,912,000 after buying an additional 322 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Potlatchdeltic by 1.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 27,438 shares of the real estate investment trust’s stock worth $1,070,000 after buying an additional 488 shares during the last quarter. Finally, Advisor Group Inc. boosted its stake in Potlatchdeltic by 107.8% in the 4th 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 last quarter. 87.59% of the stock is currently owned by institutional investors and hedge funds.

Potlatchdeltic Company Profile

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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