PotlatchDeltic (NASDAQ:PCH)'s stock had its "sector perform" rating restated by research analysts at Royal Bank of Canada in a report issued on Tuesday, Benzinga reports. They currently have a $65.00 price objective on the real estate investment trust's stock, up from their prior price objective of $58.00. Royal Bank of Canada's price target suggests a potential upside of 8.39% from the company's current price.
Several other research analysts have also recently weighed in on the stock. Raymond James upped their price objective on shares of PotlatchDeltic from $61.00 to $79.00 and gave the stock a "strong-buy" rating in a research report on Monday. BMO Capital Markets cut shares of PotlatchDeltic from an "outperform" rating to a "market perform" rating and raised their target price for the stock from $58.00 to $65.00 in a report on Wednesday, April 28th. Finally, DA Davidson reaffirmed a "neutral" rating on shares of PotlatchDeltic in a research report on Tuesday, March 23rd. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. The company has an average rating of "Buy" and an average price target of $58.20.
PCH stock opened at $59.97 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.37 and a debt-to-equity ratio of 0.59. The company's 50 day moving average is $56.32 and its 200 day moving average is $50.61. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 51.70 and a beta of 1.34. PotlatchDeltic has a 1-year low of $29.12 and a 1-year high of $63.99.
PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings data on Sunday, April 25th. The real estate investment trust reported $1.94 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $1.76 by $0.18. The company had revenue of $354.20 million for the quarter, compared to analysts' expectations of $331.65 million. PotlatchDeltic had a net margin of 8.62% and a return on equity of 9.37%. PotlatchDeltic's revenue for the quarter was up 69.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.25) earnings per share. As a group, sell-side analysts forecast that PotlatchDeltic will post 2.88 EPS for the current fiscal year.
In related news, Director Michael J. Covey sold 18,293 shares of the business's stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $53.13, for a total value of $971,907.09. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric J. Cremers sold 6,568 shares of the business's stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $41.65, for a total value of $273,557.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,643 shares of company stock valued at $7,625,589. 3.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PCH. Norges Bank purchased a new position in PotlatchDeltic in the 4th quarter worth approximately $44,605,000. BlackRock Inc. lifted its holdings in PotlatchDeltic by 4.5% in the 4th quarter. BlackRock Inc. now owns 8,351,900 shares of the real estate investment trust's stock worth $417,763,000 after purchasing an additional 361,809 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of PotlatchDeltic by 10.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,133,622 shares of the real estate investment trust's stock worth $106,724,000 after acquiring an additional 205,392 shares in the last quarter. Morgan Stanley raised its holdings in shares of PotlatchDeltic by 316.1% during the 4th quarter. Morgan Stanley now owns 195,879 shares of the real estate investment trust's stock worth $9,798,000 after acquiring an additional 148,799 shares in the last quarter. Finally, Sirios Capital Management L P purchased a new stake in shares of PotlatchDeltic during the 4th quarter worth approximately $6,107,000. 82.55% of the stock is currently owned by institutional investors.
PotlatchDeltic Company Profile
PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns 1.8 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 residential and commercial real estate development business and a rural timberland sales program.
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