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

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

WY has been the subject of several other reports. JPMorgan Chase & Co. raised their price objective on Weyerhaeuser from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Weiss Ratings lowered Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 25th. Citigroup dropped their price target on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Canadian Imperial Bank of Commerce set a $28.00 price target on Weyerhaeuser in a research note on Thursday, April 23rd. Finally, DA Davidson reiterated a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a research report on Tuesday, June 30th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.00.

Weyerhaeuser Trading Up 0.5%

Shares of WY opened at $23.91 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average is $23.96 and its two-hundred day moving average is $24.62. Weyerhaeuser has a twelve month low of $21.16 and a twelve month high of $27.75. The firm has a market capitalization of $17.24 billion, a P/E ratio of 44.29, a PEG ratio of 1.34 and a beta of 0.89.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.11 EPS. On average, research analysts predict that Weyerhaeuser will post 0.32 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. Investors of record on Friday, June 5th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, June 5th. Weyerhaeuser’s dividend payout ratio is presently 155.56%.

Hedge Funds Weigh In On Weyerhaeuser

Institutional investors and hedge funds have recently bought and sold shares of the stock. Essential Partners LLC raised its position in 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 valued at $30,000 after purchasing an additional 1,208 shares during the period. Versant Capital Management Inc boosted its position in shares of Weyerhaeuser by 77.6% in the second quarter. Versant Capital Management Inc now owns 1,412 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 617 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of Weyerhaeuser in the fourth quarter worth about $39,000. Addison Advisors LLC grew its stake in shares of Weyerhaeuser by 83.4% in the fourth quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 757 shares in the last quarter. Finally, Bayban acquired a new stake in shares of Weyerhaeuser in 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.