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

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

A number of other research firms have also recently issued reports on WY. 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 for the company in a research note on Friday, December 6th. CIBC raised Weyerhaeuser from a "neutral" rating to an "outperformer" rating and set a $35.00 target price on the stock in a research report on Wednesday. Raymond James raised shares of Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $32.00 price target for the company in a research report on Monday, December 23rd. Finally, Truist Financial lowered their price objective on shares of Weyerhaeuser from $34.00 to $33.00 and set a "hold" rating on the stock in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $35.14.

Weyerhaeuser Trading Up 1.6 %

WY stock traded up $0.48 during mid-day trading on Wednesday, reaching $30.04. The company's stock had a trading volume of 2,706,141 shares, compared to its average volume of 3,562,854. Weyerhaeuser has a 12 month low of $26.73 and a 12 month high of $36.27. 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 business's 50 day moving average price is $29.88 and its 200 day moving average price is $30.72. The company has a market cap of $21.83 billion, a price-to-earnings ratio of 40.59 and a beta of 1.42.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.70 billion. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. Weyerhaeuser's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 EPS. On average, equities research analysts predict that Weyerhaeuser will post 0.49 EPS for the current year.

Weyerhaeuser Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.66%. The ex-dividend date was Friday, November 29th. Weyerhaeuser's dividend payout ratio (DPR) is presently 108.11%.

Institutional Trading of Weyerhaeuser

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Weyerhaeuser by 12.7% during the 3rd quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust's stock worth $1,210,694,000 after buying an additional 4,035,048 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Weyerhaeuser by 257.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,472,451 shares of the real estate investment trust's stock valued at $151,437,000 after acquiring an additional 3,220,235 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Weyerhaeuser by 2,664.4% during the third quarter. Daiwa Securities Group Inc. now owns 2,195,958 shares of the real estate investment trust's stock worth $74,355,000 after acquiring an additional 2,116,520 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Weyerhaeuser by 30.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust's stock worth $291,306,000 after purchasing an additional 2,004,073 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Weyerhaeuser by 512.3% in the 2nd quarter. Millennium Management LLC now owns 1,563,454 shares of the real estate investment trust's stock valued at $44,386,000 after purchasing an additional 1,308,125 shares during the period. 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.