Potlatchdeltic (NASDAQ:PCH) PT Set at $47.00 by Bank of America

Bank of America set a $47.00 price objective on Potlatchdeltic (NASDAQ:PCH) in a research report sent to investors on Friday morning, TipRanks reports. The firm currently has a buy rating on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada lowered shares of Potlatchdeltic from an outperform rating to a sector perform rating and set a $42.00 price target for the company. in a research report on Wednesday, July 31st. BidaskClub raised shares of Potlatchdeltic from a buy rating to a strong-buy rating in a report on Tuesday, October 22nd. ValuEngine lowered shares of Potlatchdeltic from a buy rating to a hold rating in a report on Tuesday, October 15th. Finally, Zacks Investment Research raised shares of Potlatchdeltic from a sell rating to a hold rating in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $44.57.

PCH opened at $43.01 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.14 and a current ratio of 1.58. The stock has a market capitalization of $2.89 billion, a P/E ratio of 18.86, a P/E/G ratio of 10.57 and a beta of 1.41. The company’s 50-day simple moving average is $41.34 and its two-hundred day simple moving average is $38.66. Potlatchdeltic has a 52-week low of $28.07 and a 52-week high of $44.09.

Potlatchdeltic (NASDAQ:PCH) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.02. Potlatchdeltic had a net margin of 9.50% and a return on equity of 6.46%. The business had revenue of $226.30 million for the quarter, compared to analysts’ expectations of $234.95 million. During the same quarter in the prior year, the business earned $0.87 EPS. The business’s revenue for the quarter was down 21.7% compared to the same quarter last year. Research analysts forecast that Potlatchdeltic will post 0.81 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Thursday, September 12th. Potlatchdeltic’s dividend payout ratio is 70.18%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Arizona State Retirement System grew its holdings in Potlatchdeltic by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 49,054 shares of the real estate investment trust’s stock valued at $1,912,000 after buying an additional 322 shares in the last quarter. United Capital Financial Advisers LLC grew its holdings in Potlatchdeltic by 1.2% during the 2nd quarter. United Capital Financial Advisers LLC now owns 28,109 shares of the real estate investment trust’s stock valued at $1,096,000 after buying an additional 345 shares in the last quarter. Laurel Wealth Advisors Inc. grew its holdings in Potlatchdeltic by 1.6% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 23,617 shares of the real estate investment trust’s stock valued at $921,000 after buying an additional 369 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Potlatchdeltic by 1.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 27,438 shares of the real estate investment trust’s stock valued at $1,070,000 after buying an additional 488 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in Potlatchdeltic by 10.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,672 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 523 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Potlatchdeltic Company Profile

PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 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 medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland sales program.

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Analyst Recommendations for Potlatchdeltic (NASDAQ:PCH)

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