Bleakley Financial Group LLC Acquires 32,280 Shares of Weyerhaeuser Company (NYSE:WY)

Bleakley Financial Group LLC grew its position in Weyerhaeuser Company (NYSE:WY - Free Report) by 416.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,029 shares of the real estate investment trust's stock after buying an additional 32,280 shares during the period. Bleakley Financial Group LLC's holdings in Weyerhaeuser were worth $1,172,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Weyerhaeuser in the 4th quarter valued at $638,470,000. Cohen & Steers Inc. lifted its position in Weyerhaeuser by 57.5% during the 4th quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust's stock worth $1,095,726,000 after buying an additional 14,213,243 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Weyerhaeuser by 63.9% during the 1st quarter. Bank of New York Mellon Corp now owns 7,265,484 shares of the real estate investment trust's stock worth $212,733,000 after buying an additional 2,833,288 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in Weyerhaeuser by 23,525.2% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,428,378 shares of the real estate investment trust's stock worth $41,823,000 after buying an additional 1,422,332 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Weyerhaeuser by 43.6% during the 4th quarter. Deutsche Bank AG now owns 4,196,790 shares of the real estate investment trust's stock worth $118,140,000 after buying an additional 1,273,217 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company's stock.

Wall Street Analyst Weigh In

WY has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 1st. Truist Financial cut their price target on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. CIBC cut their price target on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group cut shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. Finally, Citigroup lowered their price objective on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Weyerhaeuser currently has an average rating of "Moderate Buy" and an average price target of $33.13.

Weyerhaeuser Stock Performance

WY traded down $0.17 on Thursday, reaching $25.74. The company had a trading volume of 2,049,306 shares, compared to its average volume of 3,847,073. Weyerhaeuser Company has a fifty-two week low of $24.10 and a fifty-two week high of $34.03. The stock has a market cap of $18.66 billion, a P/E ratio of 51.47, a P/E/G ratio of 39.83 and a beta of 1.14. The company's fifty day moving average is $26.21 and its 200 day moving average is $27.73. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.26 and a current ratio of 2.04.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, meeting analysts' consensus estimates of $0.11. Weyerhaeuser had a net margin of 5.15% and a return on equity of 3.59%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business earned $0.16 EPS. Weyerhaeuser's quarterly revenue was down 4.9% on a year-over-year basis. As a group, analysts predict that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, May 30th. Weyerhaeuser's dividend payout ratio (DPR) is presently 168.00%.

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

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.