Q3 2020 EPS Estimates for Potlatchdeltic Corp Lifted by Analyst (NASDAQ:PCH)

Potlatchdeltic Corp (NASDAQ:PCH) – Analysts at Seaport Global Securities boosted their Q3 2020 earnings per share (EPS) estimates for shares of Potlatchdeltic in a research note issued to investors on Tuesday, July 28th. Seaport Global Securities analyst M. Weintraub now expects that the real estate investment trust will post earnings per share of $0.85 for the quarter, up from their prior forecast of $0.45. Seaport Global Securities also issued estimates for Potlatchdeltic’s FY2020 earnings at $1.20 EPS.

Potlatchdeltic (NASDAQ:PCH) last posted its earnings results on Monday, July 27th. The real estate investment trust reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.05. The business had revenue of $181.56 million for the quarter, compared to analyst estimates of $173.89 million. Potlatchdeltic had a net margin of 2.17% and a return on equity of 4.19%. Potlatchdeltic’s revenue was down 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS.

A number of other equities analysts have also commented on PCH. BidaskClub raised shares of Potlatchdeltic from a “hold” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada raised shares of Potlatchdeltic from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $40.00 to $45.00 in a report on Friday, July 10th. Zacks Investment Research raised shares of Potlatchdeltic from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Tuesday, June 2nd. DA Davidson decreased their price target on shares of Potlatchdeltic from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Finally, Raymond James increased their price target on shares of Potlatchdeltic from $38.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $44.60.

Shares of NASDAQ:PCH opened at $42.81 on Friday. The company’s fifty day moving average price is $38.94 and its 200-day moving average price is $36.65. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 164.66 and a beta of 1.33. Potlatchdeltic has a one year low of $22.40 and a one year high of $45.42. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.40 and a quick ratio of 1.04.

In other Potlatchdeltic news, Director Larry Peiros acquired 6,500 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was bought at an average price of $33.00 per share, with a total value of $214,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PCH. Norges Bank purchased a new stake in Potlatchdeltic during the 4th quarter valued at $63,508,000. Legal & General Group Plc lifted its position in shares of Potlatchdeltic by 182.0% in the 1st quarter. Legal & General Group Plc now owns 681,930 shares of the real estate investment trust’s stock worth $21,406,000 after purchasing an additional 440,088 shares during the period. Hunter Perkins Capital Management LLC purchased a new stake in shares of Potlatchdeltic in the 2nd quarter worth about $10,479,000. Bank of New York Mellon Corp lifted its position in shares of Potlatchdeltic by 18.2% in the 1st quarter. Bank of New York Mellon Corp now owns 1,570,624 shares of the real estate investment trust’s stock worth $49,302,000 after purchasing an additional 241,315 shares during the period. Finally, Advisory Research Inc. lifted its position in shares of Potlatchdeltic by 29.6% in the 1st quarter. Advisory Research Inc. now owns 901,595 shares of the real estate investment trust’s stock worth $28,301,000 after purchasing an additional 205,919 shares during the period. 83.98% of the stock is owned by institutional investors and hedge funds.

About Potlatchdeltic

PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland sales program.

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