DA Davidson Reiterates Neutral Rating for Potlatch (NASDAQ:PCH)

Potlatch (NASDAQ:PCH)‘s stock had its “neutral” rating reiterated by equities research analysts at DA Davidson in a note issued to investors on Thursday,Benzinga reports. They currently have a $40.00 target price on the real estate investment trust’s stock, down from their prior target price of $54.00. DA Davidson’s target price would suggest a potential upside of 0.23% from the stock’s current price.

A number of other equities analysts have also recently commented on PCH. Weiss Ratings reiterated a “hold (c)” rating on shares of Potlatch in a research report on Wednesday, October 8th. Citigroup decreased their price objective on Potlatch from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday. Wall Street Zen cut Potlatch from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Truist Financial reduced their price target on Potlatch from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $48.00 target price on shares of Potlatch in a research note on Monday. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Potlatch currently has an average rating of “Hold” and an average price target of $46.50.

Potlatch Stock Performance

Shares of NASDAQ PCH opened at $39.91 on Thursday. The stock’s 50-day moving average is $41.19 and its 200 day moving average is $40.61. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 75.30 and a beta of 1.11. Potlatch has a 1-year low of $36.82 and a 1-year high of $48.12. The company has a current ratio of 1.13, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47.

Potlatch (NASDAQ:PCH) last issued its earnings results on Friday, May 6th. The real estate investment trust reported $1.94 earnings per share (EPS) for the quarter. The business had revenue of $354.19 million during the quarter. Potlatch had a return on equity of 2.10% and a net margin of 3.94%. On average, sell-side analysts anticipate that Potlatch will post 0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Potlatch

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Potlatch during the 2nd quarter valued at $217,543,000. Legal & General Group Plc boosted its position in shares of Potlatch by 13.9% in the 2nd quarter. Legal & General Group Plc now owns 2,819,875 shares of the real estate investment trust’s stock worth $108,199,000 after purchasing an additional 344,553 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Potlatch by 19.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,792,075 shares of the real estate investment trust’s stock worth $107,132,000 after buying an additional 461,356 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Potlatch by 1.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,560,123 shares of the real estate investment trust’s stock valued at $70,393,000 after buying an additional 17,352 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Potlatch by 74.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,027,190 shares of the real estate investment trust’s stock valued at $39,413,000 after buying an additional 438,032 shares in the last quarter. Institutional investors own 86.06% of the company’s stock.

About Potlatch

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.