Royal Bank Of Canada Reiterates “Sector Perform” Rating for Potlatch (NASDAQ:PCH)

Potlatch (NASDAQ:PCH)‘s stock had its “sector perform” rating reissued by investment analysts at Royal Bank Of Canada in a research report issued on Monday, MarketBeat.com reports. They presently have a $48.00 target price on the real estate investment trust’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 19.02% from the stock’s current price.

Several other equities research analysts have also recently weighed in on PCH. 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 report on Monday, October 13th. Wall Street Zen lowered shares of Potlatch from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Zacks Research cut Potlatch from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Weiss Ratings restated a “hold (c)” rating on shares of Potlatch in a report on Wednesday, October 8th. Finally, Citigroup reiterated a “neutral” rating and issued a $45.00 price objective (down previously from $49.00) on shares of Potlatch in a report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Potlatch currently has an average rating of “Hold” and a consensus price target of $49.00.

Potlatch Trading Down 1.2%

NASDAQ PCH opened at $40.33 on Monday. The firm has a market cap of $3.12 billion, a PE ratio of 76.09 and a beta of 1.11. Potlatch has a 1-year low of $36.82 and a 1-year high of $48.12. The stock has a 50-day moving average of $41.21 and a 200-day moving average of $40.61. 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 announced its quarterly earnings results on Friday, May 6th. The real estate investment trust reported $1.94 EPS for the quarter. The business had revenue of $354.19 million for the quarter. Potlatch had a return on equity of 2.10% and a net margin of 3.94%. As a group, sell-side analysts forecast that Potlatch will post 0.8 EPS for the current year.

Hedge Funds Weigh In On Potlatch

Institutional investors and hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas bought a new stake in shares of Potlatch in the 1st quarter worth approximately $888,000. Principal Financial Group Inc. raised its stake in Potlatch by 1.0% during the first quarter. Principal Financial Group Inc. now owns 166,650 shares of the real estate investment trust’s stock valued at $7,519,000 after buying an additional 1,624 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Potlatch by 9.3% in the first quarter. Envestnet Asset Management Inc. now owns 36,674 shares of the real estate investment trust’s stock worth $1,655,000 after acquiring an additional 3,126 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Potlatch by 25.2% in the first quarter. Cerity Partners LLC now owns 26,915 shares of the real estate investment trust’s stock worth $1,214,000 after acquiring an additional 5,422 shares during the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of Potlatch during the first quarter valued at $239,000. 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.