Potlatchdeltic (NASDAQ:PCH) Downgraded by Zacks Investment Research

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Potlatchdeltic (NASDAQ:PCH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

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 brokerages also recently issued reports on PCH. Seaport Global Securities assumed coverage on Weyerhaeuser in a research report on Tuesday, April 2nd. They issued a “buy” rating on the stock. BidaskClub downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. Bank of America reaffirmed a “neutral” rating and set a $105.00 price objective (up from $95.00) on shares of Childrens Place in a report on Friday, April 5th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Vertical Research cut shares of Potlatchdeltic from a “buy” rating to a “hold” rating and set a $39.00 target price for the company. in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Potlatchdeltic currently has an average rating of “Buy” and a consensus target price of $43.48.

Shares of NASDAQ PCH opened at $38.01 on Wednesday. The firm’s fifty day moving average price is $37.68. The company has a current ratio of 1.72, a quick ratio of 1.19 and a debt-to-equity ratio of 0.56. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 8.23 and a beta of 1.42. Potlatchdeltic has a 1 year low of $28.07 and a 1 year high of $49.75.

Potlatchdeltic (NASDAQ:PCH) last issued its earnings results on Monday, April 29th. The real estate investment trust reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.04. Potlatchdeltic had a return on equity of 8.66% and a net margin of 12.01%. The business had revenue of $181.72 million during the quarter, compared to analysts’ expectations of $179.89 million. During the same quarter last year, the firm posted $0.69 earnings per share. Potlatchdeltic’s revenue was down 9.1% compared to the same quarter last year. On average, analysts predict that Potlatchdeltic will post 0.93 EPS for the current year.

In other Potlatchdeltic news, Director John S. Moody sold 1,781 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $33.68, for a total transaction of $59,984.08. Following the transaction, the director now owns 2,617 shares in the company, valued at approximately $88,140.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.00% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Potlatchdeltic by 0.8% during the first quarter. BlackRock Inc. now owns 8,603,716 shares of the real estate investment trust’s stock valued at $325,134,000 after purchasing an additional 65,019 shares during the period. FMR LLC boosted its stake in shares of Potlatchdeltic by 24.4% during the first quarter. FMR LLC now owns 1,865,726 shares of the real estate investment trust’s stock valued at $70,505,000 after purchasing an additional 366,327 shares during the period. Northern Trust Corp boosted its stake in shares of Potlatchdeltic by 6.0% during the fourth quarter. Northern Trust Corp now owns 1,435,510 shares of the real estate investment trust’s stock valued at $45,419,000 after purchasing an additional 81,310 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Potlatchdeltic by 8.2% during the fourth quarter. Bank of New York Mellon Corp now owns 931,612 shares of the real estate investment trust’s stock valued at $29,476,000 after purchasing an additional 70,849 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Potlatchdeltic by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 749,193 shares of the real estate investment trust’s stock valued at $23,704,000 after purchasing an additional 83,520 shares during the period. Hedge funds and other institutional investors own 87.67% of the company’s stock.

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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