Shares of Weyerhaeuser Company (NYSE:WY) traded today at $38.42, eclipsing its 52-week high. So far today approximately 997,000 shares have been exchanged, as compared to an average 30-day volume of 4.3 million shares.
Weyerhaeuser ranks among the world’s largest forest product companies. Following the 2016 sale of its pulp business to International Paper, Weyerhaeuser operates three business segments: timberlands, wood products, and real estate. Weyerhaeuser is structured as a real estate investment trust and is not required to pay federal income taxes on earnings generated by timber harvest activities. Earnings from its wood products segment are subject to federal income tax. Weyerhaeuser acquired fellow timber REIT Plum Creek in 2016.
In the past 52 weeks, shares of Weyerhaeuser Company have traded between a low of $16.05 and a high of $38.42 and is now at $38.26, which is 138% above that low price.
Based on a current price of $38.26, Weyerhaeuser Company is currently 2.4% above its average consensus analyst price target of $37.34.
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