State Street Corp Boosts Position in Weyerhaeuser (NYSE:WY)

State Street Corp boosted its holdings in shares of Weyerhaeuser (NYSE:WY - Free Report) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,407,646 shares of the real estate investment trust's stock after acquiring an additional 761,757 shares during the quarter. State Street Corp owned 4.32% of Weyerhaeuser worth $1,063,463,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fiduciary Trust Co raised its position in Weyerhaeuser by 0.6% during the 3rd quarter. Fiduciary Trust Co now owns 53,185 shares of the real estate investment trust's stock worth $1,801,000 after purchasing an additional 331 shares during the last quarter. Wedmont Private Capital increased its position in Weyerhaeuser by 4.4% during the 3rd quarter. Wedmont Private Capital now owns 8,304 shares of the real estate investment trust's stock valued at $273,000 after purchasing an additional 350 shares during the period. Institute for Wealth Management LLC. lifted its position in shares of Weyerhaeuser by 2.2% in the 2nd quarter. Institute for Wealth Management LLC. now owns 16,731 shares of the real estate investment trust's stock worth $475,000 after purchasing an additional 366 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of Weyerhaeuser by 2.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 15,291 shares of the real estate investment trust's stock valued at $518,000 after purchasing an additional 367 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Weyerhaeuser by 2.2% in the 3rd quarter. CWM LLC now owns 17,185 shares of the real estate investment trust's stock valued at $582,000 after purchasing an additional 368 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WY has been the topic of several recent analyst reports. StockNews.com lowered shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Monday, October 28th. Truist Financial boosted their price objective on Weyerhaeuser from $31.00 to $34.00 and gave the company a "hold" rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets raised Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $38.00 target price for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $36.33.

Weyerhaeuser Stock Up 1.1 %

Shares of NYSE WY traded up $0.33 during mid-day trading on Friday, reaching $31.29. 3,395,079 shares of the company's stock traded hands, compared to its average volume of 2,745,627. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.01 and a quick ratio of 1.41. The business has a 50-day simple moving average of $31.98 and a 200 day simple moving average of $30.84. The stock has a market cap of $22.73 billion, a P/E ratio of 42.28 and a beta of 1.40. Weyerhaeuser has a 1-year low of $26.73 and a 1-year high of $36.27.

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

Weyerhaeuser Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a yield of 2.56%. Weyerhaeuser's dividend payout ratio (DPR) is currently 108.11%.

Insider Buying and Selling

In other news, Director James Calvin O'rourke acquired 7,800 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average cost of $32.01 per share, for a total transaction of $249,678.00. Following the purchase, the director now owns 17,672 shares of the company's stock, valued at approximately $565,680.72. The trade was a 79.01 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

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.