Royal Bank of Canada Cuts Weyerhaeuser (NYSE:WY) Price Target to $37.00

Weyerhaeuser (NYSE:WY) had its price objective trimmed by Royal Bank of Canada from $38.00 to $37.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the stock. BMO Capital Markets raised their price target on shares of Weyerhaeuser from $36.00 to $38.00 and gave the company a market perform rating in a report on Friday, March 22nd. StockNews.com downgraded shares of Weyerhaeuser from a buy rating to a hold rating in a research report on Monday, January 29th. CIBC set a $37.00 price target on Weyerhaeuser and gave the company a neutral rating in a report on Wednesday, March 13th. Finally, Truist Financial reaffirmed a hold rating and issued a $36.00 price objective on shares of Weyerhaeuser in a report on Wednesday, April 3rd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $37.67.

Weyerhaeuser Stock Up 0.1 %

Shares of NYSE:WY opened at $30.20 on Monday. The company has a current ratio of 2.24, a quick ratio of 1.57 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $33.78 and a two-hundred day simple moving average of $32.74. Weyerhaeuser has a 12-month low of $28.12 and a 12-month high of $36.27. The stock has a market capitalization of $22.02 billion, a price-to-earnings ratio of 27.45 and a beta of 1.43.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings data on Thursday, April 25th. The real estate investment trust reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.86 billion. Weyerhaeuser had a net margin of 10.57% and a return on equity of 7.00%. Weyerhaeuser’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. On average, research analysts anticipate that Weyerhaeuser will post 1 earnings per share for the current fiscal year.

Weyerhaeuser Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $0.20 per share. This is a positive change from Weyerhaeuser’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Thursday, March 7th. Weyerhaeuser’s dividend payout ratio (DPR) is 72.73%.

Insider Transactions at Weyerhaeuser

In other Weyerhaeuser news, SVP Keith O’rear sold 8,349 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $36.03, for a total transaction of $300,814.47. Following the completion of the transaction, the senior vice president now owns 170,665 shares of the company’s stock, valued at approximately $6,149,059.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Nicole Weyerhaeuser Piasecki sold 33,426 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $33.64, for a total transaction of $1,124,450.64. Following the sale, the director now owns 5,807 shares of the company’s stock, valued at $195,347.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Keith O’rear sold 8,349 shares of Weyerhaeuser stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $36.03, for a total transaction of $300,814.47. Following the completion of the transaction, the senior vice president now directly owns 170,665 shares of the company’s stock, valued at $6,149,059.95. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Weyerhaeuser

Institutional investors and hedge funds have recently modified their holdings of the stock. Millburn Ridgefield Corp bought a new stake in shares of Weyerhaeuser in the 3rd quarter worth about $25,000. Raleigh Capital Management Inc. raised its position in Weyerhaeuser by 606.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 848 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 728 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in Weyerhaeuser in the fourth quarter worth about $26,000. American National Bank lifted its stake in Weyerhaeuser by 171.5% in the first quarter. American National Bank now owns 763 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 482 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its position in shares of Weyerhaeuser by 92.6% during the fourth quarter. Lindbrook Capital LLC now owns 888 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 427 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.