Potlatchdeltic (NASDAQ:PCH) Downgraded to “Hold” at BidaskClub

BidaskClub downgraded shares of Potlatchdeltic (NASDAQ:PCH) from a buy rating to a hold rating in a research note published on Wednesday, June 26th, BidAskClub reports.

PCH has been the subject of a number of other reports. Vertical Research downgraded shares of Potlatchdeltic from a buy rating to a hold rating and set a $39.00 price target for the company. in a research report on Friday, April 12th. Zacks Investment Research raised shares of FirstService from a strong sell rating to a hold rating and set a $110.00 price objective on the stock in a research note on Tuesday, June 25th. Bank of America reaffirmed a neutral rating and set a $105.00 target price (up previously from $95.00) on shares of Childrens Place in a research note on Friday, April 5th. BMO Capital Markets cut shares of MDC Partners from an outperform rating to a market perform rating and set a $2.53 target price on the stock. in a research note on Monday, March 11th. Finally, Seaport Global Securities began coverage on shares of Weyerhaeuser in a research note on Tuesday, April 2nd. They set a buy rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $43.48.

PCH stock traded down $0.03 during trading hours on Wednesday, reaching $38.01. 329,905 shares of the stock were exchanged, compared to its average volume of 469,872. The company has a market cap of $2.60 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 8.23 and a beta of 1.42. The firm’s 50-day simple moving average is $37.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.19 and a current ratio of 1.72. Potlatchdeltic has a 12 month low of $28.07 and a 12 month high of $49.75.

Potlatchdeltic (NASDAQ:PCH) last announced its quarterly earnings data on Monday, April 29th. The real estate investment trust reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.04. The company had revenue of $181.72 million during the quarter, compared to analysts’ expectations of $179.89 million. Potlatchdeltic had a return on equity of 8.66% and a net margin of 12.01%. Potlatchdeltic’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 EPS. Equities analysts expect that Potlatchdeltic will post 0.93 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Thursday, June 6th. Potlatchdeltic’s dividend payout ratio (DPR) is currently 70.18%.

In related news, Director John S. Moody sold 1,781 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $33.68, for a total transaction of $59,984.08. Following the transaction, the director now owns 2,617 shares of the company’s stock, valued at approximately $88,140.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in PCH. Penserra Capital Management LLC bought a new stake in Potlatchdeltic during the first quarter valued at approximately $29,000. Advisor Group Inc. lifted its holdings in shares of Potlatchdeltic by 107.8% in the fourth 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 in the last quarter. American Research & Management Co. purchased a new position in shares of Potlatchdeltic in the first quarter worth $57,000. First Interstate Bank raised its stake in Potlatchdeltic by 319.8% during the first quarter. First Interstate Bank now owns 2,166 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 1,650 shares in the last quarter. Finally, Pearl River Capital LLC purchased a new stake in shares of Potlatchdeltic in the first quarter valued at $84,000. Institutional investors own 87.67% of the company’s stock.

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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