624,677 Shares in Weyerhaeuser (NYSE:WY) Purchased by Waterfront Capital Partners LLC

Waterfront Capital Partners LLC purchased a new position in shares of Weyerhaeuser (NYSE:WY - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 624,677 shares of the real estate investment trust's stock, valued at approximately $21,152,000. Weyerhaeuser accounts for about 2.9% of Waterfront Capital Partners LLC's investment portfolio, making the stock its 14th largest position. Waterfront Capital Partners LLC owned approximately 0.09% of Weyerhaeuser at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Weyerhaeuser by 257.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,472,451 shares of the real estate investment trust's stock worth $151,437,000 after purchasing an additional 3,220,235 shares during the period. Daiwa Securities Group Inc. grew its stake in Weyerhaeuser by 2,664.4% during the third quarter. Daiwa Securities Group Inc. now owns 2,195,958 shares of the real estate investment trust's stock worth $74,355,000 after buying an additional 2,116,520 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Weyerhaeuser by 30.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust's stock worth $291,306,000 after acquiring an additional 2,004,073 shares in the last quarter. Millennium Management LLC increased its position in shares of Weyerhaeuser by 512.3% in the second quarter. Millennium Management LLC now owns 1,563,454 shares of the real estate investment trust's stock worth $44,386,000 after acquiring an additional 1,308,125 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Weyerhaeuser by 2,221.8% in the 3rd quarter. Van ECK Associates Corp now owns 1,245,633 shares of the real estate investment trust's stock valued at $39,674,000 after acquiring an additional 1,191,983 shares during the period. Institutional investors and hedge funds own 82.99% of the company's stock.

Wall Street Analyst Weigh In

WY has been the subject of several recent research reports. Argus upgraded Weyerhaeuser to a "hold" rating in a report on Friday, August 9th. Truist Financial increased their target price on Weyerhaeuser from $31.00 to $34.00 and gave the company a "hold" rating in a research note on Tuesday, October 15th. Finally, StockNews.com cut Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $36.33.

Weyerhaeuser Stock Up 0.3 %

WY stock traded up $0.11 during midday trading on Friday, hitting $32.26. 2,107,938 shares of the company's stock were exchanged, compared to its average volume of 3,601,786. The firm has a 50 day moving average price of $32.18 and a 200-day moving average price of $30.83. Weyerhaeuser has a 12-month low of $26.73 and a 12-month high of $36.27. The stock has a market capitalization of $23.44 billion, a price-to-earnings ratio of 43.59 and a beta of 1.40. The company has a current ratio of 2.01, a quick ratio of 1.41 and a debt-to-equity ratio of 0.49.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The business's revenue was down 13.3% compared to the same quarter last year. On average, analysts anticipate that Weyerhaeuser will post 0.46 EPS for the current year.

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Friday, November 29th. Weyerhaeuser's dividend payout ratio is presently 108.11%.

Insiders Place Their Bets

In other Weyerhaeuser news, Director James Calvin O'rourke purchased 7,800 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was acquired at an average cost of $32.01 per share, with a total value of $249,678.00. Following the acquisition, the director now owns 17,672 shares of the company's stock, valued at approximately $565,680.72. This represents a 79.01 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.27% of the stock is currently owned by company insiders.

Weyerhaeuser Company Profile

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.