Citigroup Cuts Weyerhaeuser (NYSE:WY) Price Target to $21.00

Weyerhaeuser (NYSE:WY) had its price objective reduced by Citigroup from $29.00 to $21.00 in a research note released on Monday,Benzinga reports. Citigroup currently has a buy rating on the real estate investment trust’s stock.

Several other equities analysts also recently commented on the stock. Weiss Ratings downgraded shares of Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. Raymond James Financial upgraded shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research note on Friday, July 10th. Wall Street Zen raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. JPMorgan Chase & Co. decreased their target price on shares of Weyerhaeuser from $31.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, September 3rd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of Weyerhaeuser in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Weyerhaeuser presently has an average rating of “Moderate Buy” and a consensus target price of $27.78.

Weyerhaeuser Stock Performance

WY opened at $18.54 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.15. The business has a fifty day simple moving average of $22.70 and a 200 day simple moving average of $23.62. Weyerhaeuser has a 1 year low of $18.25 and a 1 year high of $27.75. The company has a market capitalization of $13.37 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 1.91 and a beta of 0.92.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the business earned $0.12 EPS. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. Research analysts expect that Weyerhaeuser will post 0.31 EPS for the current year.

Weyerhaeuser Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were given a $0.21 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.84 dividend on an annualized basis and a yield of 4.5%. Weyerhaeuser’s dividend payout ratio (DPR) is currently 129.23%.

Institutional Trading of Weyerhaeuser

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Eagle Investment Management LLC boosted its holdings in shares of Weyerhaeuser by 10.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 51,179,282 shares of the real estate investment trust’s stock valued at $1,225,232,000 after acquiring an additional 4,885,818 shares in the last quarter. Wellington Management Group LLP increased its holdings in Weyerhaeuser by 14.3% in the 2nd quarter. Wellington Management Group LLP now owns 43,574,118 shares of the real estate investment trust’s stock worth $1,043,164,000 after purchasing an additional 5,437,685 shares in the last quarter. State Street Corp raised its position in Weyerhaeuser by 3.3% in the second quarter. State Street Corp now owns 34,298,957 shares of the real estate investment trust’s stock valued at $821,117,000 after purchasing an additional 1,106,553 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Weyerhaeuser in the second quarter valued at about $468,969,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Weyerhaeuser by 11.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 6,212,273 shares of the real estate investment trust’s stock valued at $151,766,000 after purchasing an additional 639,334 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Company Profile

Weyerhaeuser (NYSE: WY) is one of the world’s largest private owners of timberlands and a major producer of forest products. The company owns and manages timberlands in the United States and operates manufacturing facilities in the United States and Canada, serving residential, commercial and industrial markets.

Its principal products include lumber, structural panels, engineered wood products and other materials used in homebuilding and construction. Weyerhaeuser also manages its timberlands for sustainable wood production and generates revenue from real estate, energy and natural-resource activities associated with those properties.

Founded in 1900, Weyerhaeuser has developed from a regional timber company into an integrated forest-products business.