Citigroup Issues Pessimistic Forecast for PotlatchDeltic (NASDAQ:PCH) Stock Price

PotlatchDeltic (NASDAQ:PCH) had its price target decreased by investment analysts at Citigroup from $52.00 to $46.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Citigroup’s price objective indicates a potential upside of 11.95% from the stock’s current price.

Several other research firms have also weighed in on PCH. Royal Bank of Canada reissued an “outperform” rating and issued a $50.00 target price on shares of PotlatchDeltic in a report on Wednesday, October 30th. BMO Capital Markets upgraded 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 report on Friday, December 6th. Raymond James upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Monday, December 23rd. Truist Financial decreased their price objective on PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com raised shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, PotlatchDeltic currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.83.

PotlatchDeltic Stock Performance

NASDAQ PCH traded up $1.22 during trading on Wednesday, reaching $41.09. The company’s stock had a trading volume of 175,088 shares, compared to its average volume of 406,416. PotlatchDeltic has a twelve month low of $37.06 and a twelve month high of $48.08. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 195.67 and a beta of 1.16. The business’s fifty day moving average price is $41.49 and its 200-day moving average price is $42.12. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.24.

PotlatchDeltic (NASDAQ:PCH) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.08. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The business had revenue of $255.10 million for the quarter, compared to the consensus estimate of $241.35 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, analysts anticipate that PotlatchDeltic will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On PotlatchDeltic

A number of institutional investors have recently bought and sold shares of the stock. Quest Partners LLC bought a new position in PotlatchDeltic during the second quarter valued at approximately $85,000. Oppenheimer Asset Management Inc. increased its holdings in shares of PotlatchDeltic by 60.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,414 shares of the real estate investment trust’s stock valued at $292,000 after acquiring an additional 2,799 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of PotlatchDeltic in the 2nd quarter valued at approximately $1,479,000. Renaissance Technologies LLC lifted its holdings in PotlatchDeltic by 2,054.5% in the 2nd quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust’s stock worth $4,053,000 after purchasing an additional 98,123 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its position in PotlatchDeltic by 7.1% during the second quarter. Moors & Cabot Inc. now owns 13,189 shares of the real estate investment trust’s stock worth $520,000 after purchasing an additional 871 shares during the period. Hedge funds and other institutional investors own 86.06% of the company’s stock.

About PotlatchDeltic

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.