Citigroup Cuts Weyerhaeuser (NYSE:WY) Price Target to $35.00

Weyerhaeuser (NYSE:WY - Free Report) had its target price trimmed by Citigroup from $38.00 to $35.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust's stock.

Several other analysts also recently commented on the stock. Raymond James raised shares of Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $32.00 price objective on the stock in a research report on Monday, December 23rd. Truist Financial dropped their target price on shares of 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 raised shares of Weyerhaeuser from a "sell" rating to a "hold" rating in a research report on Monday, December 16th. BMO Capital Markets raised Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $38.00 price objective on the stock in a research report on Friday, December 6th. Finally, CIBC raised Weyerhaeuser from a "neutral" rating to an "outperformer" rating and set a $35.00 target price for the company in a report on Wednesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.14.

Weyerhaeuser Stock Up 2.2 %

Shares of NYSE WY traded up $0.64 on Wednesday, reaching $29.60. 4,748,710 shares of the company's stock traded hands, compared to its average volume of 3,657,990. The business's 50 day simple moving average is $29.92 and its two-hundred day simple moving average is $30.73. Weyerhaeuser has a 12 month low of $26.73 and a 12 month high of $36.27. The company has a market cap of $21.51 billion, a price-to-earnings ratio of 40.00 and a beta of 1.42. The company has a quick ratio of 1.41, a current ratio of 2.01 and a debt-to-equity ratio of 0.49.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the company earned $0.33 EPS. The firm's revenue for the quarter was down 13.3% on a year-over-year basis. As a group, equities research analysts forecast that Weyerhaeuser will post 0.46 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.20 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.70%. Weyerhaeuser's dividend payout ratio (DPR) is currently 108.11%.

Institutional Trading of Weyerhaeuser

Hedge funds have recently bought and sold shares of the company. Oakworth Capital Inc. bought a new stake in shares of Weyerhaeuser during the 3rd quarter valued at about $25,000. Itau Unibanco Holding S.A. bought a new stake in Weyerhaeuser during the second quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in 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 valued at $32,000 after buying an additional 928 shares during the last quarter. Bangor Savings Bank raised its position in Weyerhaeuser by 140.3% in the third quarter. Bangor Savings Bank now owns 1,115 shares of the real estate investment trust's stock worth $38,000 after acquiring an additional 651 shares during the period. Finally, Meeder Asset Management Inc. raised its position in Weyerhaeuser by 172.4% in the third quarter. Meeder Asset Management Inc. now owns 1,136 shares of the real estate investment trust's stock worth $38,000 after acquiring an additional 719 shares during the period. 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.