Weyerhaeuser (NYSE:WY) Given New $35.00 Price Target at Citigroup

Weyerhaeuser (NYSE:WY) had its price objective decreased by Citigroup from $38.00 to $35.00 in a research note published on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the company. CIBC upgraded Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 target price on the stock in a research note on Wednesday. Raymond James upgraded Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research note on Monday, December 23rd. Truist Financial lowered their price objective on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. StockNews.com upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Monday, December 16th. Finally, BMO Capital Markets upgraded Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.14.

Weyerhaeuser Price Performance

Shares of NYSE:WY opened at $29.51 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 1.41 and a debt-to-equity ratio of 0.49. The stock’s fifty day simple moving average is $29.92 and its two-hundred day simple moving average is $30.73. Weyerhaeuser has a 1-year low of $26.73 and a 1-year high of $36.27. The stock has a market cap of $21.44 billion, a PE ratio of 39.88 and a beta of 1.42.

Weyerhaeuser (NYSE:WY) last released its earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The business’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. As a group, analysts forecast that Weyerhaeuser will post 0.49 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Friday, November 29th. Weyerhaeuser’s payout ratio is presently 108.11%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WY. Oakworth Capital Inc. purchased a new position in shares of Weyerhaeuser during the third quarter worth about $25,000. Itau Unibanco Holding S.A. purchased a new position in shares of Weyerhaeuser during the second quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Weyerhaeuser by 4,884.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 947 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 928 shares in the last quarter. Bangor Savings Bank grew its holdings in shares of Weyerhaeuser by 140.3% during the third quarter. Bangor Savings Bank now owns 1,115 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 651 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Weyerhaeuser by 172.4% during the third quarter. Meeder Asset Management Inc. now owns 1,136 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 719 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

About Weyerhaeuser

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.