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

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

Other research analysts also recently issued reports about the stock. Citigroup decreased their price target on shares of Potlatch from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday. Zacks Research downgraded Potlatch from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Wall Street Zen downgraded shares of Potlatch from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $48.00 price target on shares of Potlatch in a report on Monday. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.50.

Potlatch Stock Performance

Shares of PCH opened at $39.91 on Thursday. The firm has a market capitalization of $3.08 billion, a P/E ratio of 75.30 and a beta of 1.11. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 0.75. Potlatch has a one year low of $36.82 and a one year high of $48.12. The business has a fifty day moving average of $41.19 and a 200 day moving average of $40.61.

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

Institutional Investors Weigh In On Potlatch

Several large investors have recently bought and sold shares of PCH. Norges Bank purchased a new stake in Potlatch during the second quarter valued at $217,543,000. Legal & General Group Plc raised its position in shares of Potlatch by 13.9% during the 2nd quarter. Legal & General Group Plc now owns 2,819,875 shares of the real estate investment trust’s stock valued at $108,199,000 after buying an additional 344,553 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings 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 valued at $107,132,000 after acquiring an additional 461,356 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Potlatch by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,560,123 shares of the real estate investment trust’s stock worth $70,393,000 after acquiring an additional 17,352 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Potlatch by 74.3% during the second quarter. Ameriprise Financial Inc. now owns 1,027,190 shares of the real estate investment trust’s stock worth $39,413,000 after acquiring an additional 438,032 shares during the last quarter. Institutional investors own 86.06% of the company’s stock.

Potlatch 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.