Citigroup Cuts Weyerhaeuser (NYSE:WY) Price Target to $29.00

Weyerhaeuser (NYSE:WY) had its price target decreased by Citigroup from $30.00 to $29.00 in a report released on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the real estate investment trust’s stock.

WY has been the subject of a number of other reports. Raymond James Financial upgraded Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research note on Friday, July 10th. Weiss Ratings downgraded shares of Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 25th. Wall Street Zen raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Truist Financial restated a “hold” rating and issued a $28.00 price objective (up from $27.00) on shares of Weyerhaeuser in a research report on Monday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Weyerhaeuser in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Weyerhaeuser Stock Down 1.6%

NYSE WY opened at $25.43 on Tuesday. The firm has a market cap of $18.33 billion, a PE ratio of 39.12, a price-to-earnings-growth ratio of 1.40 and a beta of 0.89. Weyerhaeuser has a one year low of $21.16 and a one year high of $27.75. The stock’s 50 day simple moving average is $24.27 and its 200 day simple moving average is $24.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.15.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. Weyerhaeuser had a return on equity of 1.49% and a net margin of 6.89%.The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the firm posted $0.12 EPS. The business’s revenue was down 8.3% on a year-over-year basis. As a group, sell-side analysts forecast that Weyerhaeuser will post 0.31 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, June 5th. Weyerhaeuser’s dividend payout ratio (DPR) is 129.23%.

Institutional Investors Weigh In On Weyerhaeuser

Several institutional investors have recently modified their holdings of WY. Wellington Management Group LLP raised its position in shares of Weyerhaeuser by 4.4% during the 4th quarter. Wellington Management Group LLP now owns 41,378,212 shares of the real estate investment trust’s stock valued at $980,250,000 after acquiring an additional 1,731,315 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in Weyerhaeuser by 166.1% during the fourth quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock worth $891,242,000 after buying an additional 23,485,504 shares during the last quarter. State Street Corp boosted its holdings in Weyerhaeuser by 1.7% during the fourth quarter. State Street Corp now owns 33,031,378 shares of the real estate investment trust’s stock worth $782,513,000 after buying an additional 562,781 shares during the last quarter. Norges Bank acquired a new position in shares of Weyerhaeuser during the 4th quarter worth about $549,531,000. Finally, Geode Capital Management LLC grew its position in shares of Weyerhaeuser by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 20,299,110 shares of the real estate investment trust’s stock worth $479,155,000 after buying an additional 225,227 shares during the period. Institutional investors and hedge funds own 82.99% of the company’s stock.

About Weyerhaeuser

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.