JPMorgan Chase & Co. Cuts Weyerhaeuser (NYSE:WY) Price Target to $30.00

Weyerhaeuser (NYSE:WY) had its price objective reduced by JPMorgan Chase & Co. from $32.00 to $30.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other analysts have also issued reports on WY. CIBC reduced 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. Truist Financial cut their price objective on shares of Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group downgraded shares of Weyerhaeuser from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, May 23rd. Finally, Citigroup dropped their target price on shares of Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Weyerhaeuser has an average rating of “Moderate Buy” and an average target price of $33.13.

Weyerhaeuser Stock Performance

Shares of NYSE:WY opened at $26.41 on Tuesday. Weyerhaeuser has a 12-month low of $24.10 and a 12-month high of $34.03. The company’s 50 day moving average price is $26.16 and its two-hundred day moving average price is $27.86. The firm has a market cap of $19.15 billion, a PE ratio of 52.81, a PEG ratio of 36.60 and a beta of 1.14. The company has a quick ratio of 1.26, a current ratio of 2.04 and a debt-to-equity ratio of 0.52.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. Weyerhaeuser had a return on equity of 3.59% and a net margin of 5.15%. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the company posted $0.16 earnings per share. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. Equities research analysts predict that Weyerhaeuser will post 0.78 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.21 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.18%. Weyerhaeuser’s dividend payout ratio (DPR) is currently 168.00%.

Weyerhaeuser announced that its board has authorized a share repurchase plan on Thursday, May 8th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Weyerhaeuser

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Weyerhaeuser during the fourth quarter valued at about $638,470,000. Cohen & Steers Inc. raised its holdings in Weyerhaeuser by 57.5% in the 4th quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust’s stock valued at $1,095,726,000 after buying an additional 14,213,243 shares during the last quarter. Nuveen LLC bought a new position in Weyerhaeuser in the 1st quarter valued at approximately $107,330,000. Millennium Management LLC boosted its position in Weyerhaeuser by 2,952.7% during the 1st quarter. Millennium Management LLC now owns 3,130,367 shares of the real estate investment trust’s stock worth $91,657,000 after buying an additional 3,027,823 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Weyerhaeuser by 63.9% during the 1st quarter. Bank of New York Mellon Corp now owns 7,265,484 shares of the real estate investment trust’s stock worth $212,733,000 after acquiring an additional 2,833,288 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.

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.