342,493 Shares in Weyerhaeuser Company $WY Acquired by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates acquired 342,493 Weyerhaeuser shares during the third quarter, valued at approximately $6.5 million. Institutional investors and hedge funds collectively own 82.99% of WY stock.
• Analysts maintain a generally positive outlook, with Weyerhaeuser holding a consensus “Moderate Buy” rating and an average price target of $26.67, despite several recent target-price reductions.
• Weyerhaeuser reported quarterly EPS of $0.13, exceeding the $0.08 consensus estimate, while revenue reached $1.87 billion. The company pays a quarterly dividend of $0.21, equivalent to a 4.2% yield.

Pinnacle Associates Ltd. acquired a new stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 342,493 shares of the real estate investment trust's stock, valued at approximately $6,524,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Uncommon Cents Investing Inc grew its position in Weyerhaeuser by 6.1% in the third quarter. Uncommon Cents Investing Inc now owns 209,355 shares of the real estate investment trust's stock worth $3,988,000 after acquiring an additional 12,055 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Weyerhaeuser by 9.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 60,739 shares of the real estate investment trust's stock worth $1,157,000 after purchasing an additional 5,094 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Weyerhaeuser by 8.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 95,342 shares of the real estate investment trust's stock valued at $1,816,000 after purchasing an additional 7,637 shares in the last quarter. North Forty Two & Co. raised its holdings in shares of Weyerhaeuser by 9.9% during the 3rd quarter. North Forty Two & Co. now owns 17,261 shares of the real estate investment trust's stock valued at $329,000 after purchasing an additional 1,550 shares in the last quarter. Finally, IFP Advisors Inc bought a new position in shares of Weyerhaeuser during the 3rd quarter valued at $202,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WY has been the subject of a number of recent research reports. Seaport Research Partners set a $30.00 price objective on shares of Weyerhaeuser in a report on Thursday, October 8th. Truist Financial lowered their target price on shares of Weyerhaeuser from $28.00 to $24.00 and set a "hold" rating on the stock in a research report on Monday, October 12th. Royal Bank Of Canada cut their target price on Weyerhaeuser from $30.00 to $25.00 and set an "outperform" rating on the stock in a report on Friday, October 16th. DA Davidson reaffirmed a "buy" rating and issued a $31.00 price target on shares of Weyerhaeuser in a research report on Tuesday, June 30th. Finally, Wall Street Zen upgraded Weyerhaeuser from a "sell" rating to a "hold" rating in a research note on Sunday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Weyerhaeuser presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.67.

Weyerhaeuser Trading Up 4.3%

Shares of WY stock opened at $19.80 on Friday. Weyerhaeuser Company has a 12 month low of $18.25 and a 12 month high of $27.75. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. The business's 50 day moving average is $21.41 and its two-hundred day moving average is $23.26. The company has a market cap of $14.27 billion, a PE ratio of 90.38, a price-to-earnings-growth ratio of 2.33 and a beta of 0.92.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.05. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. The company's quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.12 earnings per share. Equities analysts predict that Weyerhaeuser Company will post 0.27 EPS for the current year.

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.2%. The ex-dividend date was Friday, September 4th. Weyerhaeuser's dividend payout ratio (DPR) is 129.23%.

Weyerhaeuser Company Profile

Weyerhaeuser NYSE: WY is a real estate investment trust focused on timberlands and wood products. The company owns or controls approximately 10.4 million acres of timberlands in the United States and manages additional timberlands under long-term licenses. Its operations are concentrated in major timber-producing regions, including the Pacific Northwest, the South and the Western United States.

Weyerhaeuser's principal products include lumber, engineered wood products, structural panels and other materials used in residential and commercial construction.

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