American Assets Investment Management LLC Sells 47,808 Shares of Weyerhaeuser Company (NYSE:WY)

Key Points

• American Assets Investment Management LLC has significantly reduced its holdings in Weyerhaeuser Company by 68.3%, now owning approximately $650,000 worth of shares.
• Weyerhaeuser recently reported earnings of $0.12 per share for the quarter, exceeding analysts' expectations of $0.10, despite a 2.8% year-over-year revenue decline.
• The company announced a $1.00 billion share buyback program, indicating that its board believes the stock is undervalued.

American Assets Investment Management LLC reduced its position in Weyerhaeuser Company (NYSE:WY - Free Report) by 68.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,192 shares of the real estate investment trust's stock after selling 47,808 shares during the period. American Assets Investment Management LLC's holdings in Weyerhaeuser were worth $650,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Waverly Advisors LLC grew its stake in Weyerhaeuser by 3.3% during the 4th quarter. Waverly Advisors LLC now owns 10,830 shares of the real estate investment trust's stock valued at $305,000 after acquiring an additional 343 shares in the last quarter. Texas Yale Capital Corp. grew its stake in Weyerhaeuser by 4.0% during the 4th quarter. Texas Yale Capital Corp. now owns 9,924 shares of the real estate investment trust's stock valued at $279,000 after acquiring an additional 385 shares in the last quarter. S.A. Mason LLC grew its stake in Weyerhaeuser by 5.6% during the 1st quarter. S.A. Mason LLC now owns 7,642 shares of the real estate investment trust's stock valued at $224,000 after acquiring an additional 408 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Weyerhaeuser by 13.8% during the 4th quarter. Quadrant Capital Group LLC now owns 3,425 shares of the real estate investment trust's stock valued at $96,000 after acquiring an additional 416 shares in the last quarter. Finally, Unison Advisors LLC boosted its position in Weyerhaeuser by 0.6% during the fourth quarter. Unison Advisors LLC now owns 68,854 shares of the real estate investment trust's stock valued at $1,938,000 after purchasing an additional 419 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company's stock.

Weyerhaeuser Stock Up 0.1%

NYSE WY traded up $0.03 during trading on Friday, hitting $25.08. 4,684,519 shares of the company traded hands, compared to its average volume of 4,999,649. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $26.10 and a 200 day simple moving average of $27.53. The company has a market capitalization of $18.10 billion, a P/E ratio of 66.00, a PEG ratio of 65.60 and a beta of 1.08. Weyerhaeuser Company has a 12 month low of $24.10 and a 12 month high of $34.03.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.02. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.94 billion. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. As a group, sell-side analysts predict that Weyerhaeuser Company will post 0.78 EPS for the current year.

Weyerhaeuser declared that its Board of Directors has approved a share buyback plan on Thursday, May 8th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

Weyerhaeuser Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, May 30th. Weyerhaeuser's dividend payout ratio (DPR) is currently 221.05%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WY shares. The Goldman Sachs Group cut Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. CIBC reduced their price objective on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price objective on Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. Truist Financial reduced their price objective on Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a research report on Monday, July 28th. Finally, Wall Street Zen raised Weyerhaeuser from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $32.88.

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.