PotlatchDeltic (NASDAQ:PCH) Upgraded to Outperform at Raymond James

PotlatchDeltic (NASDAQ:PCH) was upgraded by equities research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued to investors on Monday, Marketbeat reports. The brokerage presently has a $45.00 price target on the real estate investment trust’s stock. Raymond James’ price target would indicate a potential upside of 16.13% from the stock’s current price.

Other analysts have also recently issued reports about the company. Truist Financial increased their price target on PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Bank of America raised shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a report on Thursday, September 12th. BMO Capital Markets raised 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 note on Friday, December 6th. Royal Bank of Canada restated an “outperform” rating and issued a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, PotlatchDeltic presently has an average rating of “Moderate Buy” and an average price target of $48.40.

PotlatchDeltic Stock Performance

Shares of PCH opened at $38.75 on Monday. The stock has a market capitalization of $3.05 billion, a PE ratio of 184.52 and a beta of 1.14. The business’s fifty day moving average price is $42.59 and its 200 day moving average price is $42.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.93. PotlatchDeltic has a 12-month low of $37.06 and a 12-month high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. The company had revenue of $255.10 million for the quarter, compared to the consensus estimate of $241.35 million. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the firm posted $0.14 EPS. Equities research analysts forecast that PotlatchDeltic will post 0.15 EPS for the current year.

Institutional Trading of PotlatchDeltic

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Adelante Capital Management LLC lifted its holdings in shares of PotlatchDeltic by 3,486.3% in the third quarter. Adelante Capital Management LLC now owns 1,147,262 shares of the real estate investment trust’s stock valued at $51,684,000 after purchasing an additional 1,115,272 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in PotlatchDeltic by 33.0% during 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 during the period. Heitman Real Estate Securities LLC purchased a new position in PotlatchDeltic during the 3rd quarter valued at about $8,153,000. Ceredex Value Advisors LLC acquired a new position in shares of PotlatchDeltic in the 3rd quarter valued at about $7,884,000. Finally, NFJ Investment Group LLC acquired a new stake in shares of PotlatchDeltic during the third quarter worth approximately $5,878,000. 86.06% of the stock is currently owned by institutional investors.

PotlatchDeltic Company Profile

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.