PotlatchDeltic Co. (NASDAQ:PCH) Stake Cut by D.A. Davidson & CO.

D.A. Davidson & CO. decreased its holdings in shares of PotlatchDeltic Co. (NASDAQ:PCH) by 15.5% in the 3rd quarter, Holdings Channel reports. The firm owned 40,280 shares of the real estate investment trust’s stock after selling 7,409 shares during the quarter. D.A. Davidson & CO.’s holdings in PotlatchDeltic were worth $1,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of PCH. Independence Bank of Kentucky acquired a new stake in PotlatchDeltic during the second quarter worth about $51,000. Beach Investment Counsel Inc. PA bought a new position in shares of PotlatchDeltic during the second quarter valued at approximately $59,000. Quarry LP acquired a new stake in shares of PotlatchDeltic during the 2nd quarter worth approximately $82,000. Quest Partners LLC bought a new stake in shares of PotlatchDeltic in the 2nd quarter worth approximately $85,000. Finally, Park Place Capital Corp acquired a new position in PotlatchDeltic during the 2nd quarter valued at approximately $105,000. 86.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial increased their target price on PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Bank of America raised shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Thursday, September 12th. StockNews.com upgraded shares of PotlatchDeltic from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 price target on shares of PotlatchDeltic in a report on Wednesday, October 30th.

PotlatchDeltic Stock Performance

PCH stock opened at $44.84 on Friday. The company has a 50-day simple moving average of $43.13 and a 200 day simple moving average of $42.34. The company has a market capitalization of $3.53 billion, a P/E ratio of 213.52 and a beta of 1.14. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. PotlatchDeltic Co. has a fifty-two week low of $37.06 and a fifty-two week high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The company had revenue of $255.10 million during the quarter, compared to analyst estimates of $241.35 million. During the same period in the prior year, the business posted $0.14 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Sell-side analysts predict that PotlatchDeltic Co. will post 0.15 earnings per share for the current fiscal year.

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.