Weyerhaeuser (NYSE:WY) Price Target Raised to $23.00

Weyerhaeuser (NYSE:WY) had its price target boosted by Citigroup from $21.00 to $23.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

A number of other analysts have also issued reports on WY. JPMorgan Chase & Co. cut their target price on Weyerhaeuser from $31.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, September 3rd. Seaport Research Partners set a $30.00 price target on Weyerhaeuser in a research report on Thursday, October 8th. Canadian Imperial Bank of Commerce lowered their price target on Weyerhaeuser from $30.00 to $25.00 and set an “outperformer” rating for the company in a research report on Tuesday, October 27th. Royal Bank Of Canada dropped their price objective on Weyerhaeuser from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, October 16th. Finally, Truist Financial cut their price objective on Weyerhaeuser from $28.00 to $24.00 and set a “hold” rating on the stock in a report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Weyerhaeuser presently has a consensus rating of “Moderate Buy” and an average price target of $26.10.

Weyerhaeuser Price Performance

Shares of WY opened at $21.76 on Monday. Weyerhaeuser has a 1-year low of $18.25 and a 1-year high of $27.75. The stock has a market cap of $15.67 billion, a PE ratio of 89.52, a P/E/G ratio of 4.21 and a beta of 0.92. The firm has a 50-day simple moving average of $20.68 and a two-hundred day simple moving average of $23.61. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.08.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. Weyerhaeuser had a net margin of 6.47% and a return on equity of 1.72%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the firm earned $0.12 EPS. The business’s revenue was up 8.4% on a year-over-year basis. As a group, analysts forecast that Weyerhaeuser will post 0.27 EPS for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, September 4th. Weyerhaeuser’s dividend payout ratio (DPR) is currently 135.48%.

Hedge Funds Weigh In On Weyerhaeuser

Several institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its holdings in Weyerhaeuser by 524.8% in the second quarter. Assenagon Asset Management S.A. now owns 176,165 shares of the real estate investment trust’s stock valued at $4,217,000 after acquiring an additional 147,971 shares during the period. Hsbc Holdings PLC boosted its position in shares of Weyerhaeuser by 23.0% during the 2nd quarter. Hsbc Holdings PLC now owns 1,636,104 shares of the real estate investment trust’s stock worth $39,100,000 after purchasing an additional 305,983 shares in the last quarter. Markel Group Inc. grew its stake in shares of Weyerhaeuser by 585.7% during the 2nd quarter. Markel Group Inc. now owns 120,000 shares of the real estate investment trust’s stock worth $2,873,000 after purchasing an additional 102,500 shares during the period. First Eagle Investment Management LLC grew its stake 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 worth $1,225,232,000 after purchasing an additional 4,885,818 shares during the period. Finally, SFE Investment Counsel increased its holdings in shares of Weyerhaeuser by 32.2% in the 1st quarter. SFE Investment Counsel now owns 209,041 shares of the real estate investment trust’s stock valued at $5,107,000 after purchasing an additional 50,880 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Company Profile

Weyerhaeuser (NYSE: WY) is a real estate investment trust focused on timberlands and wood products. The company owns or controls approximately 10.4 million acres of timberlands in the United States and manages additional timberlands under long-term licenses. Its operations are concentrated in major timber-producing regions, including the Pacific Northwest, the South and the Western United States.

Weyerhaeuser’s principal products include lumber, engineered wood products, structural panels and other materials used in residential and commercial construction.