Truist Financial Cuts Weyerhaeuser (NYSE:WY) Price Target to $29.00

Weyerhaeuser (NYSE:WY) had its price target trimmed by Truist Financial from $30.00 to $29.00 in a report published on Monday,Benzinga reports. The firm currently has a hold rating on the real estate investment trust’s stock.

A number of other research firms have also weighed in on WY. Wall Street Zen raised Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. DA Davidson dropped their target price on Weyerhaeuser from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 22nd. JPMorgan Chase & Co. dropped their target price on Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, July 1st. The Goldman Sachs Group lowered Weyerhaeuser from a “strong-buy” rating to a “strong sell” rating in a report on Friday, May 23rd. Finally, CIBC dropped their target price on Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Weyerhaeuser currently has an average rating of “Moderate Buy” and a consensus target price of $32.88.

Weyerhaeuser Stock Down 1.6%

NYSE:WY opened at $25.53 on Monday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average is $26.11 and its two-hundred day moving average is $27.58. Weyerhaeuser has a 52 week low of $24.10 and a 52 week high of $34.03. The stock has a market capitalization of $18.42 billion, a price-to-earnings ratio of 67.19, a price-to-earnings-growth ratio of 64.70 and a beta of 1.14.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company earned $0.21 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. Research analysts anticipate that Weyerhaeuser will post 0.78 EPS for the current year.

Weyerhaeuser announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 8th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the real estate investment trust to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 3.29%. Weyerhaeuser’s dividend payout ratio (DPR) is 221.05%.

Institutional Investors Weigh In On Weyerhaeuser

Hedge funds have recently made changes to their positions in the business. DAVENPORT & Co LLC boosted its stake in shares of Weyerhaeuser by 8.0% during the first quarter. DAVENPORT & Co LLC now owns 19,932 shares of the real estate investment trust’s stock worth $584,000 after buying an additional 1,480 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Weyerhaeuser by 2.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,154 shares of the real estate investment trust’s stock valued at $2,171,000 after purchasing an additional 1,524 shares during the period. Farther Finance Advisors LLC increased its holdings in Weyerhaeuser by 232.0% in the first quarter. Farther Finance Advisors LLC now owns 9,476 shares of the real estate investment trust’s stock valued at $276,000 after buying an additional 6,622 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in Weyerhaeuser by 85.7% in the first quarter. J.W. Cole Advisors Inc. now owns 37,129 shares of the real estate investment trust’s stock valued at $1,087,000 after buying an additional 17,132 shares in the last quarter. Finally, CX Institutional purchased a new position in Weyerhaeuser in the first quarter valued at about $119,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

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.