Citigroup Has Lowered Expectations for PotlatchDeltic (NASDAQ:PCH) Stock Price

PotlatchDeltic (NASDAQ:PCH) had its price objective lowered by Citigroup from $52.00 to $46.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 price target on shares of PotlatchDeltic in a report on Wednesday, October 30th. Truist Financial decreased their price objective on PotlatchDeltic from $45.00 to $44.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Raymond James raised PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a report on Monday, December 23rd. BMO Capital Markets raised PotlatchDeltic from a “market perform” rating to an “outperform” rating and set a $51.00 price objective on the stock in a report on Friday, December 6th. Finally, StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.83.

PotlatchDeltic Stock Performance

Shares of PCH opened at $40.94 on Wednesday. The stock’s 50-day simple moving average is $41.47 and its 200 day simple moving average is $42.12. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 194.95 and a beta of 1.16. 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 has a 52-week low of $37.06 and a 52-week high of $48.08.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. PotlatchDeltic had a return on equity of 0.78% and a net margin of 1.56%. The business had revenue of $255.10 million for the quarter, compared to analysts’ expectations of $241.35 million. During the same quarter in the prior year, the firm posted $0.14 EPS. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. Research analysts forecast that PotlatchDeltic will post 0.21 EPS for the current fiscal year.

PotlatchDeltic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.45 per share. The ex-dividend date was Monday, December 16th. This represents a $1.80 annualized dividend and a yield of 4.40%. PotlatchDeltic’s payout ratio is 857.14%.

Hedge Funds Weigh In On PotlatchDeltic

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MQS Management LLC bought a new stake in shares of PotlatchDeltic in the 3rd quarter worth approximately $771,000. TCW Group Inc. bought a new stake in shares of PotlatchDeltic in the 3rd quarter worth approximately $1,923,000. Renaissance Technologies LLC grew its position in shares of 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 buying an additional 98,123 shares during the last quarter. Quest Partners LLC grew its position in shares of PotlatchDeltic by 872.1% in the 3rd quarter. Quest Partners LLC now owns 20,997 shares of the real estate investment trust’s stock worth $946,000 after buying an additional 18,837 shares during the last quarter. Finally, Foresight Group Ltd Liability Partnership grew its position in shares of PotlatchDeltic by 72.7% in the 2nd quarter. Foresight Group Ltd Liability Partnership now owns 84,314 shares of the real estate investment trust’s stock worth $3,321,000 after buying an additional 35,494 shares during the last quarter. 86.06% of the stock is currently owned by institutional investors.

PotlatchDeltic Company Profile

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.