Truist Financial Issues Pessimistic Forecast for PotlatchDeltic (NASDAQ:PCH) Stock Price

PotlatchDeltic (NASDAQ:PCH) had its price target cut by Truist Financial from $45.00 to $44.00 in a report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price suggests a potential upside of 11.53% from the company’s previous close.

Several other research analysts also recently issued reports on PCH. Raymond James upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a report on Monday, December 23rd. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 price target on shares of PotlatchDeltic in a report on Wednesday, October 30th. BMO Capital Markets raised PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price objective on the stock in a report on Friday, December 6th. Finally, Bank of America upgraded PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $48.20.

PotlatchDeltic Price Performance

NASDAQ PCH opened at $39.45 on Monday. The stock has a market capitalization of $3.11 billion, a PE ratio of 187.86 and a beta of 1.16. The stock has a 50-day simple moving average of $41.77 and a 200 day simple moving average of $42.13. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.24. PotlatchDeltic has a twelve month low of $37.06 and a twelve month high of $49.32.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share 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 company had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $241.35 million. During the same period in the prior year, the business earned $0.14 earnings per share. PotlatchDeltic’s revenue for the quarter was down 3.9% compared to the same quarter last year. Research analysts anticipate that PotlatchDeltic will post 0.15 EPS for the current year.

Hedge Funds Weigh In On PotlatchDeltic

Several hedge funds and other institutional investors have recently modified their holdings of PCH. Westwood Holdings Group Inc. grew its stake in PotlatchDeltic by 3.6% during the second quarter. Westwood Holdings Group Inc. now owns 1,664,242 shares of the real estate investment trust’s stock worth $65,554,000 after buying an additional 58,111 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in shares of PotlatchDeltic by 33.0% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,227,361 shares of the real estate investment trust’s stock worth $48,346,000 after acquiring an additional 304,352 shares in the last quarter. Adelante Capital Management LLC grew its position in PotlatchDeltic by 3,486.3% during the 3rd quarter. Adelante Capital Management LLC now owns 1,147,262 shares of the real estate investment trust’s stock worth $51,684,000 after acquiring an additional 1,115,272 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in PotlatchDeltic by 22.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 900,447 shares of the real estate investment trust’s stock valued at $40,565,000 after purchasing an additional 163,774 shares in the last quarter. Finally, Curi RMB Capital LLC raised its position in PotlatchDeltic by 0.5% in the 3rd quarter. Curi RMB Capital LLC now owns 335,671 shares of the real estate investment trust’s stock valued at $15,122,000 after purchasing an additional 1,578 shares during the last quarter. Institutional investors own 86.06% of the company’s stock.

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.