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

Potlatch (NASDAQ:PCH)‘s stock had its “neutral” rating reiterated by research analysts at DA Davidson in a note issued to investors on Thursday, MarketBeat Ratings reports. They presently have a $40.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $54.00. DA Davidson’s price objective points to a potential upside of 1.76% from the company’s previous close.

Several other equities research analysts have also recently issued reports on PCH. Zacks Research cut shares of Potlatch from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Truist Financial dropped their price target on shares of Potlatch from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Citigroup cut their price target on shares of Potlatch from $45.00 to $44.00 and set a “neutral” rating for the company 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Potlatch in a research note on Wednesday, October 8th. Three investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.50.

Potlatch Price Performance

NASDAQ:PCH opened at $39.31 on Thursday. Potlatch has a one year low of $36.82 and a one year high of $48.12. The stock has a market cap of $3.04 billion, a PE ratio of 74.17 and a beta of 1.11. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.75 and a current ratio of 1.13. The stock has a 50 day moving average price of $41.08 and a 200 day moving average price of $40.60.

Potlatch (NASDAQ:PCH) last released its quarterly earnings data on Friday, May 6th. The real estate investment trust reported $1.94 earnings per share for the quarter. Potlatch had a return on equity of 2.10% and a net margin of 3.94%.The company had revenue of $354.19 million for the quarter. Equities research analysts expect that Potlatch will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Potlatch

Institutional investors have recently modified their holdings of the company. Coastline Trust Co acquired a new position in Potlatch during the 3rd quarter worth about $26,000. Hantz Financial Services Inc. lifted its position in shares of Potlatch by 611.9% during the third quarter. Hantz Financial Services Inc. now owns 719 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 618 shares in the last quarter. Costello Asset Management INC purchased a new position in shares of Potlatch in the first quarter valued at approximately $30,000. GAMMA Investing LLC grew its holdings in shares of Potlatch by 61.1% in the second quarter. GAMMA Investing LLC now owns 1,084 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 411 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in Potlatch by 32.3% during the 2nd quarter. UMB Bank n.a. now owns 1,143 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 279 shares during the period. 86.06% of the stock is owned by institutional investors and hedge funds.

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.