Weyerhaeuser (NYSE:WY) Shares Sold by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC reduced its stake in shares of Weyerhaeuser (NYSE:WY) by 6.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 22,771 shares of the real estate investment trust’s stock after selling 1,568 shares during the period. Recurrent Investment Advisors LLC’s holdings in Weyerhaeuser were worth $641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Cohen & Steers Inc. boosted its position in shares of Weyerhaeuser by 57.5% during the fourth quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust’s stock worth $1,095,726,000 after buying an additional 14,213,243 shares during the period. Norges Bank acquired a new position in Weyerhaeuser during the 4th quarter worth $638,470,000. Geode Capital Management LLC grew its stake in shares of Weyerhaeuser by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 20,171,701 shares of the real estate investment trust’s stock worth $566,527,000 after purchasing an additional 637,643 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Weyerhaeuser by 1.1% in the fourth quarter. First Eagle Investment Management LLC now owns 14,362,306 shares of the real estate investment trust’s stock worth $404,299,000 after purchasing an additional 158,800 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Weyerhaeuser by 3.5% during the fourth quarter. Northern Trust Corp now owns 9,538,125 shares of the real estate investment trust’s stock valued at $268,498,000 after purchasing an additional 322,313 shares during the period. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Price Performance

NYSE WY opened at $26.02 on Thursday. Weyerhaeuser has a 1 year low of $24.10 and a 1 year high of $34.03. The business’s fifty day moving average is $27.16 and its two-hundred day moving average is $29.11. The stock has a market capitalization of $18.87 billion, a P/E ratio of 47.31, a P/E/G ratio of 4.74 and a beta of 1.15. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.79.

Weyerhaeuser (NYSE:WY) last announced its earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the firm earned $0.16 earnings per share. Weyerhaeuser’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, research analysts forecast that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.23%. Weyerhaeuser’s payout ratio is presently 168.00%.

Weyerhaeuser announced that its board has initiated a share buyback plan on Thursday, May 8th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Weyerhaeuser in a research report on Tuesday, April 8th. They issued an “overweight” rating and a $31.00 target price for the company. Citigroup decreased their price objective on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. StockNews.com raised Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Weyerhaeuser in a research report on Monday, February 3rd. Finally, Truist Financial decreased their price target on Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.75.

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.