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

PotlatchDeltic (NASDAQ:PCH) had its target price dropped by investment analysts at Truist Financial from $45.00 to $44.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective would indicate a potential upside of 11.39% from the stock’s previous close.

PCH has been the topic of several other research reports. Raymond James upgraded PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Monday, December 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 target price on shares of PotlatchDeltic in a research report on Wednesday, October 30th. StockNews.com upgraded PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Bank of America raised PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Thursday, September 12th. Finally, BMO Capital Markets raised PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price target for the company in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.20.

PotlatchDeltic Stock Performance

PCH opened at $39.50 on Monday. The firm has a market capitalization of $3.11 billion, a PE ratio of 188.10 and a beta of 1.16. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. PotlatchDeltic has a twelve month low of $37.06 and a twelve month high of $49.45. The firm’s 50-day moving average price is $41.84 and its 200 day moving average price is $42.13.

PotlatchDeltic (NASDAQ:PCH) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The business 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 business’s revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. As a group, sell-side analysts expect that PotlatchDeltic will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On PotlatchDeltic

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of PotlatchDeltic by 22.2% during the third quarter. JPMorgan Chase & Co. now owns 900,447 shares of the real estate investment trust’s stock valued at $40,565,000 after acquiring an additional 163,774 shares in the last quarter. TCW Group Inc. acquired a new stake in PotlatchDeltic during the 3rd quarter valued at approximately $1,923,000. Neo Ivy Capital Management purchased a new stake in PotlatchDeltic during the 3rd quarter worth approximately $376,000. Barclays PLC increased its holdings in PotlatchDeltic by 147.7% during the 3rd quarter. Barclays PLC now owns 163,784 shares of the real estate investment trust’s stock worth $7,378,000 after purchasing an additional 97,655 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of PotlatchDeltic by 7.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 85,248 shares of the real estate investment trust’s stock valued at $3,840,000 after purchasing an additional 6,251 shares in the last quarter. 86.06% of the stock is owned by institutional investors and hedge funds.

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.