Weyerhaeuser (NYSE:WY) Downgraded to “Neutral” at Bank of America

Bank of America lowered shares of Weyerhaeuser (NYSE:WYGet Rating) from a buy rating to a neutral rating in a report published on Tuesday morning, Marketbeat reports. The brokerage currently has $34.00 target price on the real estate investment trust’s stock, down from their previous target price of $38.00.

A number of other equities research analysts have also commented on the company. StockNews.com upgraded Weyerhaeuser from a hold rating to a buy rating in a research report on Monday, September 12th. Argus lowered Weyerhaeuser from a buy rating to a hold rating in a research report on Wednesday, July 20th. Truist Financial started coverage on Weyerhaeuser in a research report on Wednesday, June 29th. They set a hold rating and a $37.00 price target on the stock. The Goldman Sachs Group decreased their price objective on Weyerhaeuser from $49.00 to $41.00 and set a buy rating on the stock in a research report on Thursday, June 23rd. Finally, Raymond James decreased their price objective on Weyerhaeuser from $50.00 to $45.00 and set a strong-buy rating on the stock in a research report on Monday, September 12th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $39.80.

Weyerhaeuser Trading Down 6.0 %

Weyerhaeuser stock opened at $29.82 on Tuesday. The business has a 50 day moving average price of $34.95 and a two-hundred day moving average price of $36.93. The company has a quick ratio of 2.59, a current ratio of 3.20 and a debt-to-equity ratio of 0.47. The stock has a market cap of $22.08 billion, a price-to-earnings ratio of 9.09 and a beta of 1.48. Weyerhaeuser has a 12 month low of $29.49 and a 12 month high of $43.04.

Weyerhaeuser (NYSE:WYGet Rating) last released its quarterly earnings data on Friday, July 29th. The real estate investment trust reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.02). Weyerhaeuser had a net margin of 23.10% and a return on equity of 24.49%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the prior year, the company posted $1.37 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, equities analysts forecast that Weyerhaeuser will post 3.14 EPS for the current year.

Weyerhaeuser Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Thursday, September 1st. Weyerhaeuser’s payout ratio is presently 21.95%.

Institutional Trading of Weyerhaeuser

Several hedge funds and other institutional investors have recently modified their holdings of the company. Federated Hermes Inc. raised its stake in shares of Weyerhaeuser by 6.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,705,346 shares of the real estate investment trust’s stock valued at $56,481,000 after purchasing an additional 105,716 shares during the period. Private Trust Co. NA acquired a new stake in shares of Weyerhaeuser in the 2nd quarter valued at about $89,000. Brown Advisory Inc. grew its holdings in shares of Weyerhaeuser by 9.6% in the 2nd quarter. Brown Advisory Inc. now owns 110,120 shares of the real estate investment trust’s stock valued at $3,647,000 after acquiring an additional 9,655 shares in the last quarter. B. Riley Wealth Management Inc. grew its holdings in shares of Weyerhaeuser by 42.0% in the 2nd quarter. B. Riley Wealth Management Inc. now owns 12,997 shares of the real estate investment trust’s stock valued at $430,000 after acquiring an additional 3,843 shares in the last quarter. Finally, Amundi grew its holdings in shares of Weyerhaeuser by 5.4% in the 2nd quarter. Amundi now owns 3,302,942 shares of the real estate investment trust’s stock valued at $113,490,000 after acquiring an additional 168,303 shares in the last quarter. Institutional investors and hedge funds own 81.09% of the company’s stock.

About Weyerhaeuser

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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.

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