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

Weyerhaeuser (NYSE:WY) had its price target lifted by Royal Bank of Canada from $34.00 to $37.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on the company. DA Davidson decreased their price target on Weyerhaeuser from $37.00 to $36.00 and set a buy rating on the stock in a research note on Monday. Truist Financial decreased their price target on shares of Weyerhaeuser from $32.00 to $31.00 and set a hold rating on the stock in a report on Monday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $35.83.

Weyerhaeuser Stock Performance

Shares of WY stock opened at $31.76 on Monday. The company has a current ratio of 2.19, a quick ratio of 1.58 and a debt-to-equity ratio of 0.48. The stock has a market cap of $23.10 billion, a P/E ratio of 28.87 and a beta of 1.39. The stock has a 50 day simple moving average of $29.28 and a 200 day simple moving average of $31.78. Weyerhaeuser has a 1 year low of $26.73 and a 1 year high of $36.27.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Weyerhaeuser had a net margin of 9.89% and a return on equity of 6.19%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the firm earned $0.32 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, research analysts predict that Weyerhaeuser will post 0.76 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.20 per share. The ex-dividend date was Friday, May 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.52%. Weyerhaeuser’s dividend payout ratio (DPR) is presently 72.73%.

Insider Buying and Selling

In related news, Director Nicole Weyerhaeuser Piasecki sold 5,776 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $29.40, for a total transaction of $169,814.40. Following the completion of the transaction, the director now directly owns 5,790 shares of the company’s stock, valued at approximately $170,226. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Weyerhaeuser

Several institutional investors and hedge funds have recently made changes to their positions in WY. Montag A & Associates Inc. boosted its stake in shares of Weyerhaeuser by 0.9% in the 2nd quarter. Montag A & Associates Inc. now owns 71,702 shares of the real estate investment trust’s stock valued at $2,036,000 after purchasing an additional 643 shares during the last quarter. Catalytic Wealth RIA LLC acquired a new stake in Weyerhaeuser during the second quarter worth approximately $204,000. Rothschild Investment LLC bought a new stake in Weyerhaeuser in the second quarter worth approximately $54,000. Pine Valley Investments Ltd Liability Co lifted its stake in Weyerhaeuser by 8.8% in the second quarter. Pine Valley Investments Ltd Liability Co now owns 41,826 shares of the real estate investment trust’s stock valued at $1,187,000 after buying an additional 3,384 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Weyerhaeuser during the second quarter worth $90,000. Institutional investors and hedge funds 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.