Truist Financial Cuts Weyerhaeuser (NYSE:WY) Price Target to $27.00

Weyerhaeuser (NYSE:WY) had its price target trimmed by Truist Financial from $28.00 to $27.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Other research analysts have also issued research reports about the stock. Canadian Imperial Bank of Commerce set a $28.00 price objective on shares of Weyerhaeuser in a research note on Thursday, April 23rd. 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 report on Friday, July 10th. Citigroup decreased their price target on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Weiss Ratings cut Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Weyerhaeuser from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Weyerhaeuser Stock Up 0.0%

Shares of Weyerhaeuser stock opened at $24.46 on Wednesday. The business has a 50-day moving average price of $23.99 and a 200 day moving average price of $24.62. Weyerhaeuser has a fifty-two week low of $21.16 and a fifty-two week high of $27.75. The firm has a market cap of $17.64 billion, a P/E ratio of 45.30, a P/E/G ratio of 1.34 and a beta of 0.89. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.54.

Weyerhaeuser (NYSE:WY) last issued its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company earned $0.11 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts forecast that Weyerhaeuser will post 0.31 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.84 dividend on an annualized basis and a yield of 3.4%. Weyerhaeuser’s payout ratio is presently 155.56%.

Hedge Funds Weigh In On Weyerhaeuser

A number of hedge funds have recently added to or reduced their stakes in WY. Essential Partners LLC lifted its stake in shares of Weyerhaeuser by 120,800.0% in the first quarter. Essential Partners LLC now owns 1,209 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 1,208 shares during the last quarter. Versant Capital Management Inc raised its holdings in Weyerhaeuser by 77.6% in the 2nd quarter. Versant Capital Management Inc now owns 1,412 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 617 shares during the period. FNY Investment Advisers LLC acquired a new position in Weyerhaeuser during the 4th quarter worth $39,000. Addison Advisors LLC lifted its position in Weyerhaeuser by 83.4% during the 4th quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 757 shares during the last quarter. Finally, Bayban bought a new stake in Weyerhaeuser during the fourth quarter valued at about $41,000. 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.