According to Zacks, “Potlatch Corporation is a Real Estate Investment Trust (REIT) with the acres of timberland in Alabama, Arkansas, Idaho, Minnesota and Mississippi. Potlatch, a certified forest practices leader, is committed to providing superior returns to stockholders through long-term stewardship of its forest resources. The company also conducts a land sales and development business and operates wood products manufacturing facilities through its taxable REIT subsidiary. “
Several other analysts have also commented on the company. Bank of America set a $47.00 price objective on Potlatchdeltic and gave the company a “buy” rating in a report on Friday, October 25th. ValuEngine lowered Potlatchdeltic from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. TheStreet lowered Potlatchdeltic from a “b” rating to a “c+” rating in a report on Monday, October 28th. Finally, BidaskClub lowered Potlatchdeltic from a “buy” rating to a “hold” rating in a report on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $43.67.
Shares of PCH traded down $0.35 during midday trading on Wednesday, hitting $42.38. 13,185 shares of the company’s stock traded hands, compared to its average volume of 245,885. Potlatchdeltic has a 1 year low of $28.07 and a 1 year high of $44.69. The firm’s fifty day moving average is $43.27 and its 200-day moving average is $39.73. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 18.59 and a beta of 1.41.
Potlatchdeltic (NASDAQ:PCH) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. Potlatchdeltic had a return on equity of 3.60% and a net margin of 5.48%. The firm had revenue of $226.30 million during the quarter, compared to analyst estimates of $234.95 million. During the same quarter in the prior year, the business posted $0.87 EPS. The business’s revenue for the quarter was down 21.7% compared to the same quarter last year. On average, equities research analysts anticipate that Potlatchdeltic will post 0.78 EPS for the current year.
In related news, VP William R. Dereu sold 10,966 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $43.19, for a total transaction of $473,621.54. Following the sale, the vice president now directly owns 30,238 shares of the company’s stock, valued at $1,305,979.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP William R. Dereu sold 3,303 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $44.07, for a total value of $145,563.21. Following the sale, the vice president now directly owns 30,238 shares in the company, valued at $1,332,588.66. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of PCH. Vanguard Group Inc. grew its holdings in Potlatchdeltic by 6.5% during the second quarter. Vanguard Group Inc. now owns 9,884,744 shares of the real estate investment trust’s stock worth $385,307,000 after acquiring an additional 607,428 shares during the period. Bank of New York Mellon Corp increased its position in shares of Potlatchdeltic by 32.6% in the second quarter. Bank of New York Mellon Corp now owns 1,252,681 shares of the real estate investment trust’s stock valued at $48,831,000 after buying an additional 308,142 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Potlatchdeltic during the 2nd quarter worth approximately $11,986,000. Millennium Management LLC raised its stake in shares of Potlatchdeltic by 109.7% during the 3rd quarter. Millennium Management LLC now owns 22,677 shares of the real estate investment trust’s stock worth $931,000 after buying an additional 256,077 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Potlatchdeltic by 46.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 431,705 shares of the real estate investment trust’s stock valued at $16,820,000 after buying an additional 136,578 shares in the last quarter. 87.94% of the stock is currently owned by hedge funds and other institutional investors.
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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