Potlatch (NASDAQ:PCH) Rating Lowered to “Neutral” at Citigroup

Potlatch (NASDAQ:PCH) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Wednesday, Marketbeat reports. They currently have a $45.00 target price on the real estate investment trust’s stock, down from their previous target price of $49.00. Citigroup’s price objective indicates a potential upside of 6.91% from the stock’s previous close.

A number of other brokerages have also recently issued reports on PCH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Potlatch in a research note on Wednesday, October 8th. Truist Financial dropped their target price on Potlatch from $52.00 to $51.00 and set a “buy” rating for the company in a report on Monday. Finally, Wall Street Zen lowered Potlatch from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.33.

Potlatch Stock Up 2.3%

Shares of NASDAQ PCH opened at $42.09 on Wednesday. The stock has a market capitalization of $3.25 billion, a P/E ratio of 79.42 and a beta of 1.10. Potlatch has a one year low of $36.82 and a one year high of $48.12. The firm’s 50 day simple moving average is $41.75 and its two-hundred day simple moving average is $40.45. 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 (NASDAQ:PCH) last announced its quarterly earnings data on Friday, May 6th. The real estate investment trust reported $1.94 earnings per share (EPS) for the quarter. The company had revenue of $354.19 million during the quarter. Potlatch had a net margin of 3.94% and a return on equity of 2.10%. As a group, analysts expect that Potlatch will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Potlatch

A number of large investors have recently made changes to their positions in the business. Costello Asset Management INC purchased a new stake in Potlatch in the first quarter worth $30,000. GAMMA Investing LLC increased its position in Potlatch by 61.1% during the 2nd 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 during the period. UMB Bank n.a. raised its holdings in Potlatch by 32.3% in the 2nd quarter. UMB Bank n.a. now owns 1,143 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 279 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new position in Potlatch in the 1st quarter worth $52,000. Finally, Quarry LP lifted its position in shares of Potlatch by 70.9% in the 1st quarter. Quarry LP now owns 1,191 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 494 shares during the period. 86.06% of the stock is currently owned by institutional investors.

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.