CIBC Cuts Weyerhaeuser (NYSE:WY) Price Target to $32.00

Weyerhaeuser (NYSE:WY) had its target price reduced by CIBC from $35.00 to $32.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an outperformer rating on the real estate investment trust’s stock.

A number of other brokerages have also recently issued reports on WY. Citigroup reduced their target price on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Raymond James upgraded 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. StockNews.com raised Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Weyerhaeuser in a report on Monday, February 3rd. Finally, Truist Financial reduced their target price on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Weyerhaeuser currently has an average rating of “Moderate Buy” and a consensus target price of $33.75.

Weyerhaeuser Stock Performance

NYSE WY opened at $25.45 on Tuesday. The stock has a market cap of $18.47 billion, a PE ratio of 46.27, a P/E/G ratio of 4.74 and a beta of 1.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.79. The firm has a 50-day moving average of $28.35 and a 200-day moving average of $29.76. Weyerhaeuser has a 52-week low of $24.10 and a 52-week high of $34.03.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. On average, sell-side analysts anticipate that Weyerhaeuser will post 0.78 EPS for the current year.

Weyerhaeuser Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.30%. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.20. Weyerhaeuser’s dividend payout ratio is 152.73%.

Institutional Investors Weigh In On Weyerhaeuser

Several hedge funds have recently modified their holdings of WY. Allspring Global Investments Holdings LLC raised its position in Weyerhaeuser by 2.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,065,565 shares of the real estate investment trust’s stock valued at $264,171,000 after purchasing an additional 213,062 shares during the last quarter. TCV Trust & Wealth Management Inc. increased its stake in shares of Weyerhaeuser by 10.1% in the first quarter. TCV Trust & Wealth Management Inc. now owns 9,782 shares of the real estate investment trust’s stock valued at $286,000 after buying an additional 900 shares during the period. U S Global Investors Inc. bought a new position in Weyerhaeuser in the 1st quarter valued at approximately $381,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Weyerhaeuser by 21.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 87,107 shares of the real estate investment trust’s stock worth $2,557,000 after buying an additional 15,174 shares during the period. Finally, Illinois Municipal Retirement Fund grew its holdings in Weyerhaeuser by 1,502.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 224,955 shares of the real estate investment trust’s stock worth $6,587,000 after acquiring an additional 210,917 shares during the last quarter. 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.