Royal Bank of Canada Reaffirms “Outperform” Rating for PotlatchDeltic (NASDAQ:PCH)

PotlatchDeltic (NASDAQ:PCH)‘s stock had its “outperform” rating reaffirmed by stock analysts at Royal Bank of Canada in a research note issued on Wednesday, Benzinga reports. They currently have a $50.00 price objective on the real estate investment trust’s stock. Royal Bank of Canada’s price target suggests a potential upside of 20.28% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Truist Financial boosted their price objective on shares of PotlatchDeltic from $42.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Finally, Bank of America upgraded shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, PotlatchDeltic currently has a consensus rating of “Hold” and a consensus price target of $48.67.

PotlatchDeltic Trading Down 1.2 %

Shares of NASDAQ PCH opened at $41.57 on Wednesday. The firm’s 50 day moving average price is $43.61 and its 200-day moving average price is $42.21. PotlatchDeltic has a 52-week low of $37.06 and a 52-week high of $50.04. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.00 and a current ratio of 1.24. The company has a market cap of $3.28 billion, a PE ratio of 197.95 and a beta of 1.13.

PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.08. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The business had revenue of $255.10 million for the quarter, compared to the consensus estimate of $241.35 million. During the same period last year, the business posted $0.14 EPS. The company’s revenue was down 3.9% compared to the same quarter last year. On average, equities research analysts expect that PotlatchDeltic will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On PotlatchDeltic

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. raised its stake in PotlatchDeltic by 370.7% during the 1st quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 556 shares during the period. Independence Bank of Kentucky purchased a new position in shares of PotlatchDeltic during the 2nd quarter valued at $51,000. Beach Investment Counsel Inc. PA purchased a new position in shares of PotlatchDeltic during the 2nd quarter valued at $59,000. Quarry LP bought a new position in PotlatchDeltic in the 2nd quarter worth $82,000. Finally, Quest Partners LLC purchased a new stake in PotlatchDeltic in the 2nd quarter worth $85,000. 86.06% of the stock is currently owned by hedge funds and other 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.