Allstate Corp Invests $611,000 in Weyerhaeuser (NYSE:WY)

Allstate Corp purchased a new stake in Weyerhaeuser (NYSE:WY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 21,691 shares of the real estate investment trust's stock, valued at approximately $611,000.

Several other large investors also recently made changes to their positions in WY. Assetmark Inc. boosted its position in Weyerhaeuser by 290.9% during the 4th quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 922 shares during the last quarter. Asset Planning Inc acquired a new position in Weyerhaeuser during the fourth quarter worth $36,000. Lee Danner & Bass Inc. bought a new position in Weyerhaeuser in the fourth quarter valued at $44,000. Graney & King LLC acquired a new stake in Weyerhaeuser in the 4th quarter valued at $44,000. Finally, AdvisorNet Financial Inc lifted its position in Weyerhaeuser by 41.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,665 shares of the real estate investment trust's stock worth $47,000 after buying an additional 486 shares in the last quarter. Institutional investors own 82.99% of the company's stock.

Weyerhaeuser Price Performance

NYSE:WY traded down $2.06 during trading hours on Thursday, hitting $27.43. The company's stock had a trading volume of 5,363,687 shares, compared to its average volume of 3,639,639. The company has a market capitalization of $19.91 billion, a P/E ratio of 49.86, a PEG ratio of 4.74 and a beta of 1.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.79 and a quick ratio of 1.17. The stock has a fifty day simple moving average of $29.97 and a 200-day simple moving average of $30.66. Weyerhaeuser has a twelve month low of $26.73 and a twelve month high of $35.30.

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Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. On average, analysts anticipate that Weyerhaeuser will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Weyerhaeuser's previous quarterly dividend of $0.20. Weyerhaeuser's payout ratio is 152.73%.

Wall Street Analyst Weigh In

Several brokerages recently commented on WY. CIBC raised Weyerhaeuser from a "neutral" rating to an "outperformer" rating and set a $35.00 price target for the company in a research report on Wednesday, January 15th. Truist Financial cut their price objective on Weyerhaeuser from $34.00 to $33.00 and set a "hold" rating for the company in a report on Monday, January 6th. BMO Capital Markets upgraded shares of Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $38.00 target price on the stock in a report on Friday, December 6th. Citigroup cut their price target on shares of Weyerhaeuser from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. Finally, Raymond James upgraded shares of Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $32.00 price objective on the stock in a research note on Monday, December 23rd. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Weyerhaeuser presently has an average rating of "Moderate Buy" and an average target price of $35.00.

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.