PotlatchDeltic (NASDAQ:PCH) Downgraded to Sell Rating by StockNews.com

PotlatchDeltic (NASDAQ:PCH) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Several other brokerages have also recently issued reports on PCH. Truist Financial reduced their price objective on PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Citigroup reduced their price target on shares of PotlatchDeltic from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Raymond James upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Monday, December 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 price objective on shares of PotlatchDeltic in a research note on Wednesday, October 30th. Finally, BMO Capital Markets upgraded shares of PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 target price for the company in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.83.

PotlatchDeltic Stock Performance

Shares of PotlatchDeltic stock traded up $0.30 during midday trading on Thursday, hitting $42.09. The company had a trading volume of 262,479 shares, compared to its average volume of 393,863. The company has a fifty day simple moving average of $41.49 and a 200 day simple moving average of $42.27. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 200.43 and a beta of 1.16. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. PotlatchDeltic has a 12-month low of $37.06 and a 12-month high of $47.65.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The business had revenue of $255.10 million during the quarter, compared to the consensus estimate of $241.35 million. During the same period in the previous year, the firm posted $0.14 earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, analysts predict that PotlatchDeltic will post 0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCH. Dimensional Fund Advisors LP purchased a new position in shares of PotlatchDeltic in the 2nd quarter valued at about $1,479,000. Renaissance Technologies LLC increased its position in shares of PotlatchDeltic by 2,054.5% in the second quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust’s stock valued at $4,053,000 after buying an additional 98,123 shares in the last quarter. AE Wealth Management LLC acquired a new position in shares of PotlatchDeltic during the 2nd quarter worth approximately $454,000. Pacer Advisors Inc. lifted its position in shares of PotlatchDeltic by 64.2% during the 2nd quarter. Pacer Advisors Inc. now owns 19,413 shares of the real estate investment trust’s stock valued at $765,000 after buying an additional 7,592 shares in the last quarter. Finally, Sei Investments Co. grew its stake in PotlatchDeltic by 36.7% in the 2nd quarter. Sei Investments Co. now owns 162,792 shares of the real estate investment trust’s stock valued at $6,412,000 after acquiring an additional 43,743 shares during the period. Hedge funds and other 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.