Potlatchdeltic (NASDAQ:PCH) Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Potlatchdeltic (NASDAQ:PCH) from a buy rating to a hold rating in a report issued on Wednesday morning, BidAskClub reports.

A number of other equities research analysts have also issued reports on the company. Bank of America set a $47.00 target price on Potlatchdeltic and gave the company a buy rating in a research note on Friday, October 25th. TheStreet downgraded Potlatchdeltic from a b rating to a c+ rating in a research report on Monday, October 28th. ValuEngine cut Potlatchdeltic from a buy rating to a hold rating in a report on Tuesday. Finally, Zacks Investment Research downgraded Potlatchdeltic from a hold rating to a sell rating in a research report on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $43.67.

NASDAQ PCH traded up $0.19 during trading hours on Wednesday, reaching $42.57. The company’s stock had a trading volume of 50,863 shares, compared to its average volume of 407,667. The stock has a market cap of $2.85 billion, a PE ratio of 18.67 and a beta of 1.41. Potlatchdeltic has a fifty-two week low of $28.07 and a fifty-two week high of $44.69. The company’s 50-day moving average is $43.16 and its two-hundred day moving average is $39.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.17 and a current ratio of 1.61.

Potlatchdeltic (NASDAQ:PCH) last announced its earnings results on Monday, October 28th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $226.30 million during the quarter, compared to analysts’ expectations of $234.95 million. Potlatchdeltic had a net margin of 5.48% and a return on equity of 3.60%. The firm’s quarterly revenue was down 21.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 earnings per share. Equities analysts expect that Potlatchdeltic will post 0.78 earnings per share for the current fiscal year.

In related news, VP William R. Dereu sold 10,966 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $43.19, for a total value of $473,621.54. Following the completion of the transaction, the vice president now directly owns 30,238 shares in the company, valued at $1,305,979.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William R. Dereu sold 3,303 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $44.07, for a total value of $145,563.21. Following the transaction, the vice president now owns 30,238 shares in the company, valued at $1,332,588.66. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

A number of large investors have recently modified their holdings of PCH. Penserra Capital Management LLC raised its position in shares of Potlatchdeltic by 25.0% in the 3rd quarter. Penserra Capital Management LLC now owns 1,390 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 278 shares during the period. Arizona State Retirement System raised its holdings in shares of 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 purchasing an additional 322 shares during the period. United Capital Financial Advisers LLC raised its holdings in shares of Potlatchdeltic by 1.2% in the 2nd quarter. United Capital Financial Advisers LLC now owns 28,109 shares of the real estate investment trust’s stock worth $1,096,000 after purchasing an additional 345 shares during the period. Laurel Wealth Advisors Inc. lifted its stake in shares of Potlatchdeltic by 1.6% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 23,617 shares of the real estate investment trust’s stock valued at $921,000 after purchasing an additional 369 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of 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 valued at $1,070,000 after purchasing an additional 488 shares in the last quarter. 87.94% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Understanding the two types of arbitrage

Analyst Recommendations for Potlatchdeltic (NASDAQ:PCH)

Receive News & Ratings for Potlatchdeltic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Potlatchdeltic and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit