Cary Street Partners Financial LLC Invests $587,000 in Weyerhaeuser Company (NYSE:WY)

Key Points

• Cary Street Partners Financial LLC has acquired 20,063 shares of Weyerhaeuser Company, valued at approximately $587,000, marking a notable investment in the real estate investment trust.
• Weyerhaeuser recently declared a quarterly dividend of $0.21 per share, reflecting a 3.3% dividend yield, although its payout ratio is notably high at 221.05%.
• Analysts have mixed ratings on Weyerhaeuser, with consensus estimates suggesting a moderate buy and a target price of $32.88, despite some analysts lowering their price forecasts.

Cary Street Partners Financial LLC purchased a new stake in Weyerhaeuser Company (NYSE:WY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,063 shares of the real estate investment trust's stock, valued at approximately $587,000.

Several other large investors also recently modified their holdings of the company. Cohen & Steers Inc. lifted its stake in shares of Weyerhaeuser by 57.5% in the fourth quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust's stock valued at $1,095,726,000 after buying an additional 14,213,243 shares in the last quarter. Northern Trust Corp lifted its position in Weyerhaeuser by 3.5% during the fourth quarter. Northern Trust Corp now owns 9,538,125 shares of the real estate investment trust's stock valued at $268,498,000 after purchasing an additional 322,313 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Weyerhaeuser by 2.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,065,565 shares of the real estate investment trust's stock worth $264,171,000 after acquiring an additional 213,062 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Weyerhaeuser by 63.9% in 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 acquiring an additional 2,833,288 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Weyerhaeuser by 43.6% in 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 acquiring an additional 1,273,217 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WY shares. Wall Street Zen downgraded shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Citigroup reduced their price objective on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock in a research report on Tuesday, June 3rd. Truist Financial dropped their target price on shares of Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating on the stock in a report on Monday, July 28th. JPMorgan Chase & Co. dropped their price target on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 1st. Finally, The Goldman Sachs Group cut shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Weyerhaeuser presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.88.

Weyerhaeuser Price Performance

Shares of NYSE WY traded down $0.19 during midday trading on Monday, reaching $25.30. 3,034,318 shares of the stock traded hands, compared to its average volume of 4,081,814. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.04 and a quick ratio of 0.68. The stock has a market capitalization of $18.25 billion, a PE ratio of 66.57, a P/E/G ratio of 66.64 and a beta of 1.08. Weyerhaeuser Company has a one year low of $24.10 and a one year high of $34.03. The company's 50 day moving average is $26.08 and its 200 day moving average is $27.34.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.94 billion. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%. The company's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 EPS. On average, equities research analysts anticipate that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, August 29th. Weyerhaeuser's dividend payout ratio (DPR) is 221.05%.

Weyerhaeuser declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 8th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

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.