StockNews.com upgraded shares of PotlatchDeltic (NASDAQ:PCH – Free Report) from a sell rating to a hold rating in a report published on Friday morning.
Several other research analysts have also weighed in on PCH. Truist Financial lowered their target price on shares of PotlatchDeltic from $49.00 to $42.00 and set a hold rating on the stock in a research report on Tuesday, July 16th. Royal Bank of Canada upped their target price on shares of PotlatchDeltic from $46.00 to $50.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, PotlatchDeltic presently has a consensus rating of Hold and a consensus price target of $46.00.
Read Our Latest Analysis on PCH
PotlatchDeltic Stock Down 0.2 %
PotlatchDeltic (NASDAQ:PCH – Get Free Report) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. PotlatchDeltic had a net margin of 3.45% and a return on equity of 1.14%. The firm had revenue of $320.70 million during the quarter, compared to analysts’ expectations of $305.01 million. During the same period in the previous year, the company earned $0.06 earnings per share. PotlatchDeltic’s quarterly revenue was up 30.3% compared to the same quarter last year. As a group, analysts forecast that PotlatchDeltic will post 0.04 earnings per share for the current fiscal year.
Insider Activity
In other news, VP Ashlee Townsend Cribb sold 4,114 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $43.11, for a total value of $177,354.54. Following the sale, the vice president now directly owns 29,039 shares in the company, valued at $1,251,871.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.
Hedge Funds Weigh In On PotlatchDeltic
A number of hedge funds have recently made changes to their positions in PCH. Bessemer Group Inc. increased its stake in PotlatchDeltic by 370.7% during the 1st quarter. Bessemer Group Inc. now owns 706 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 556 shares during the period. Independence Bank of Kentucky acquired a new position in PotlatchDeltic during the 2nd quarter worth $51,000. Beach Investment Counsel Inc. PA acquired a new position in PotlatchDeltic during the 2nd quarter worth $59,000. Quest Partners LLC acquired a new position in PotlatchDeltic during the 2nd quarter worth $85,000. Finally, Park Place Capital Corp acquired a new position in PotlatchDeltic during the 2nd quarter worth $105,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.
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.
Read More
- Five stocks we like better than PotlatchDeltic
- 3 Stocks to Consider Buying in October
- Why Wall Street Analysts Raised Price Targets for Suncor Stock
- 3 REITs to Buy and Hold for the Long Term
- Is Super Micro Computer a Buy After Shares Sink 20% on Earnings?
- What Do S&P 500 Stocks Tell Investors About the Market?
- MarketBeat Week in Review – 8/5 – 8/9
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.