New York State Teachers Retirement System decreased its stake in shares of Weyerhaeuser (NYSE:WY - Free Report) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 590,705 shares of the real estate investment trust's stock after selling 25,146 shares during the period. New York State Teachers Retirement System owned about 0.08% of Weyerhaeuser worth $16,628,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of WY. Oakworth Capital Inc. bought a new stake in Weyerhaeuser during the third quarter valued at $25,000. Asset Planning Inc bought a new stake in shares of Weyerhaeuser during the 4th quarter valued at about $36,000. Meeder Asset Management Inc. raised its stake in Weyerhaeuser by 172.4% during the third quarter. Meeder Asset Management Inc. now owns 1,136 shares of the real estate investment trust's stock worth $38,000 after acquiring an additional 719 shares during the period. Northwest Investment Counselors LLC acquired a new stake in Weyerhaeuser during the third quarter worth about $45,000. Finally, AdvisorNet Financial Inc lifted its holdings in Weyerhaeuser by 41.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,665 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 486 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have recently weighed in on WY shares. Raymond James upgraded Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $32.00 price target on the stock in a research report on Monday, December 23rd. CIBC raised Weyerhaeuser from a "neutral" rating to an "outperformer" rating and set a $35.00 target price on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada reissued an "outperform" rating and set a $36.00 price target on shares of Weyerhaeuser in a report on Monday, February 3rd. Truist Financial dropped their price objective on shares of Weyerhaeuser from $34.00 to $33.00 and set a "hold" rating on the stock in a report on Monday, January 6th. Finally, Cibc World Mkts upgraded shares of Weyerhaeuser from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.00.
Check Out Our Latest Report on Weyerhaeuser
Weyerhaeuser Price Performance
WY traded down $0.55 on Wednesday, reaching $29.19. The company had a trading volume of 1,414,945 shares, compared to its average volume of 3,390,312. Weyerhaeuser has a one year low of $26.73 and a one year high of $36.27. The company has a market capitalization of $21.21 billion, a P/E ratio of 53.12, a PEG ratio of 4.68 and a beta of 1.42. The company has a fifty day moving average of $29.31 and a 200-day moving average of $30.84. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.
Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.04. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. As a group, equities research analysts anticipate that Weyerhaeuser will post 0.78 earnings per share for the current year.
Weyerhaeuser Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Weyerhaeuser's previous quarterly dividend of $0.20. Weyerhaeuser's payout ratio is currently 145.46%.
About Weyerhaeuser
(
Free Report)
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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