Weyerhaeuser (NYSE:WY) Price Target Raised to $34.00

Weyerhaeuser (NYSE:WY - Free Report) had its price objective lifted by Truist Financial from $31.00 to $34.00 in a research report released on Tuesday, 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. Citigroup dropped their price target on shares of Weyerhaeuser from $37.00 to $36.00 and set a buy rating for the company in a research report on Tuesday, July 30th. DA Davidson dropped their price objective on shares of Weyerhaeuser from $37.00 to $36.00 and set a buy rating for the company in a report on Monday, July 29th. BMO Capital Markets reaffirmed a market perform rating and set a $38.00 price objective on shares of Weyerhaeuser in a report on Tuesday, July 30th. Argus raised shares of Weyerhaeuser to a hold rating in a report on Friday, August 9th. Finally, Royal Bank of Canada raised their price objective on shares of Weyerhaeuser from $34.00 to $37.00 and gave the stock an outperform rating in a report on Monday, July 29th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Weyerhaeuser has an average rating of Hold and a consensus target price of $36.33.

Weyerhaeuser Stock Performance

Shares of WY traded up $0.46 during trading hours on Tuesday, reaching $33.05. 4,138,998 shares of the company traded hands, compared to its average volume of 3,654,128. The stock's fifty day moving average is $31.70 and its 200 day moving average is $30.98. The stock has a market cap of $24.09 billion, a P/E ratio of 29.64 and a beta of 1.40. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.58 and a current ratio of 2.19. Weyerhaeuser has a 1-year low of $26.73 and a 1-year high of $36.27.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). Weyerhaeuser had a return on equity of 6.19% and a net margin of 9.89%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the company earned $0.32 EPS. The business's revenue for the quarter was up 3.1% on a year-over-year basis. Equities research analysts anticipate that Weyerhaeuser will post 0.51 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.42%. Weyerhaeuser's dividend payout ratio (DPR) is currently 72.73%.

Insider Activity

In other Weyerhaeuser news, Director James Calvin O'rourke acquired 7,800 shares of Weyerhaeuser stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $32.01 per share, with a total value of $249,678.00. Following the completion of the purchase, the director now owns 17,672 shares in the company, valued at $565,680.72. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Weyerhaeuser news, Director James Calvin O'rourke acquired 7,800 shares of Weyerhaeuser stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $32.01 per share, with a total value of $249,678.00. Following the completion of the purchase, the director now owns 17,672 shares in the company, valued at $565,680.72. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Albert Monaco acquired 31,500 shares of Weyerhaeuser stock in a transaction on Monday, August 26th. The stock was acquired at an average cost of $31.38 per share, for a total transaction of $988,470.00. Following the completion of the purchase, the director now owns 70,726 shares of the company's stock, valued at approximately $2,219,381.88. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Weyerhaeuser

A number of hedge funds and other institutional investors have recently bought and sold shares of WY. Fisher Asset Management LLC boosted its position in shares of Weyerhaeuser by 131.5% during the fourth quarter. Fisher Asset Management LLC now owns 24,002 shares of the real estate investment trust's stock worth $835,000 after purchasing an additional 13,632 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in shares of Weyerhaeuser during the fourth quarter worth $264,000. Nomura Holdings Inc. bought a new position in shares of Weyerhaeuser during the fourth quarter worth $4,505,000. CWM LLC boosted its position in shares of Weyerhaeuser by 9.3% during the first quarter. CWM LLC now owns 16,184 shares of the real estate investment trust's stock worth $581,000 after purchasing an additional 1,380 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Weyerhaeuser by 9.4% during the first quarter. GAMMA Investing LLC now owns 10,410 shares of the real estate investment trust's stock worth $374,000 after purchasing an additional 894 shares in the last quarter. 82.99% of the stock is owned by institutional investors.

Weyerhaeuser Company Profile

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.