Weyerhaeuser (NYSE:WY) Stock Gets Price Target Trim from Canadian Imperial Bank of Commerce

Weyerhaeuser (NYSE:WY) had its target price cut by Canadian Imperial Bank of Commerce from $25.00 to $24.00 in a research note released on Monday 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 commented on WY. Royal Bank Of Canada decreased their target price on Weyerhaeuser from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Friday, October 16th. Bank of America upgraded shares of Weyerhaeuser from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $28.00 to $25.00 in a research report on Wednesday, October 14th. Raymond James Financial upgraded shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research report on Friday, July 10th. Wall Street Zen raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, Seaport Research Partners set a $30.00 target price on shares of Weyerhaeuser in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Weyerhaeuser presently has a consensus rating of “Moderate Buy” and an average price target of $26.10.

Weyerhaeuser Price Performance

Shares of WY opened at $21.76 on Monday. The company has a market capitalization of $15.67 billion, a P/E ratio of 89.52, a price-to-earnings-growth ratio of 4.21 and a beta of 0.92. The company has a quick ratio of 1.08, a current ratio of 1.82 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $20.68 and a 200 day moving average of $23.61. Weyerhaeuser has a twelve month low of $18.25 and a twelve month high of $27.75.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.08 EPS for the quarter, topping the consensus estimate of $0.04 by $0.04. Weyerhaeuser had a return on equity of 1.72% and a net margin of 6.47%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the company earned $0.12 EPS. Weyerhaeuser’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Weyerhaeuser will post 0.27 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, September 4th. Weyerhaeuser’s dividend payout ratio (DPR) is 135.48%.

Institutional Trading of Weyerhaeuser

A number of institutional investors have recently made changes to their positions in WY. M&G PLC grew its stake in Weyerhaeuser by 18.1% in the third quarter. M&G PLC now owns 3,202,041 shares of the real estate investment trust’s stock worth $60,839,000 after purchasing an additional 490,832 shares in the last quarter. AlphaCore Capital LLC raised its stake in Weyerhaeuser by 84.7% during the third quarter. AlphaCore Capital LLC now owns 33,448 shares of the real estate investment trust’s stock valued at $637,000 after buying an additional 15,340 shares in the last quarter. Fulcrum Asset Management LLP acquired a new stake in Weyerhaeuser during the third quarter valued at approximately $478,000. Allspring Global Investments Holdings LLC lifted its holdings in Weyerhaeuser by 6.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,760,600 shares of the real estate investment trust’s stock worth $218,630,000 after buying an additional 684,888 shares during the last quarter. Finally, Ethic Inc. lifted its holdings in Weyerhaeuser by 16.6% during the 3rd quarter. Ethic Inc. now owns 73,763 shares of the real estate investment trust’s stock worth $1,405,000 after buying an additional 10,523 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

About Weyerhaeuser

Weyerhaeuser (NYSE: WY) is a real estate investment trust focused on timberlands and wood products. The company owns or controls approximately 10.4 million acres of timberlands in the United States and manages additional timberlands under long-term licenses. Its operations are concentrated in major timber-producing regions, including the Pacific Northwest, the South and the Western United States.

Weyerhaeuser’s principal products include lumber, engineered wood products, structural panels and other materials used in residential and commercial construction.