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

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

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

Weyerhaeuser Price Performance

WY stock opened at $30.20 on Monday. Weyerhaeuser has a 52-week low of $28.12 and a 52-week high of $36.27. The company has a quick ratio of 1.57, a current ratio of 2.24 and a debt-to-equity ratio of 0.48. The stock has a market cap of $22.02 billion, a price-to-earnings ratio of 27.45 and a beta of 1.43. The business has a fifty day moving average of $33.78 and a two-hundred day moving average of $32.74.

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

Weyerhaeuser Increases Dividend

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

Insider Activity at Weyerhaeuser

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

Institutional Trading of Weyerhaeuser

A number of hedge funds and other institutional investors have recently bought and sold shares of WY. Price T Rowe Associates Inc. MD raised its holdings in Weyerhaeuser by 1.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 48,387,553 shares of the real estate investment trust’s stock worth $1,682,437,000 after purchasing an additional 888,621 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Weyerhaeuser by 53.2% in the 4th quarter. Wellington Management Group LLP now owns 29,571,219 shares of the real estate investment trust’s stock valued at $1,028,191,000 after buying an additional 10,271,891 shares during the last quarter. Norges Bank acquired a new stake in Weyerhaeuser during the 4th quarter worth $753,497,000. JPMorgan Chase & Co. lifted its position in Weyerhaeuser by 0.3% in the third quarter. JPMorgan Chase & Co. now owns 21,065,844 shares of the real estate investment trust’s stock valued at $645,879,000 after acquiring an additional 58,688 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Weyerhaeuser by 4.7% in the third quarter. Northern Trust Corp now owns 11,843,748 shares of the real estate investment trust’s stock valued at $363,129,000 after acquiring an additional 532,923 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.

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.