Corient Private Wealth LP Acquires 625,732 Shares of Weyerhaeuser Company $WY

Key Points

• Corient Private Wealth LP increased its Weyerhaeuser stake by 524.6% in the second quarter, buying 625,732 additional shares to reach 745,007 shares valued at approximately $17.8 million.
• Weyerhaeuser reported quarterly EPS of $0.13, beating estimates of $0.08, while revenue of $1.87 billion exceeded forecasts but declined 8.3% year over year.
• The company declared a quarterly dividend of $0.21, equivalent to an annualized $0.84 payout and a 3.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $29.

Corient Private Wealth LP increased its holdings in Weyerhaeuser Company (NYSE:WY - Free Report) by 524.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 745,007 shares of the real estate investment trust's stock after purchasing an additional 625,732 shares during the period. Corient Private Wealth LP owned 0.10% of Weyerhaeuser worth $17,835,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its position in shares of Weyerhaeuser by 21.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,406 shares of the real estate investment trust's stock valued at $57,000 after buying an additional 428 shares during the last quarter. Summit Financial LLC boosted its position in shares of Weyerhaeuser by 1.3% during the fourth quarter. Summit Financial LLC now owns 32,553 shares of the real estate investment trust's stock worth $771,000 after acquiring an additional 428 shares during the last quarter. BOKF NA boosted its position in shares of Weyerhaeuser by 4.6% during the third quarter. BOKF NA now owns 10,503 shares of the real estate investment trust's stock worth $260,000 after acquiring an additional 463 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Weyerhaeuser by 23.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,495 shares of the real estate investment trust's stock valued at $59,000 after acquiring an additional 472 shares in the last quarter. Finally, New Mexico Educational Retirement Board increased its holdings in Weyerhaeuser by 1.5% in the 4th quarter. New Mexico Educational Retirement Board now owns 33,219 shares of the real estate investment trust's stock valued at $787,000 after acquiring an additional 500 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.

Weyerhaeuser Price Performance

Weyerhaeuser stock opened at $23.68 on Friday. The company has a market cap of $17.07 billion, a price-to-earnings ratio of 36.43, a PEG ratio of 1.24 and a beta of 0.89. The firm's fifty day moving average is $24.29 and its 200 day moving average is $24.38. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. Weyerhaeuser Company has a 52-week low of $21.16 and a 52-week high of $27.75.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.13 EPS for the quarter, beating the consensus estimate of $0.08 by $0.05. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the business earned $0.12 earnings per share. Weyerhaeuser's quarterly revenue was down 8.3% compared to the same quarter last year. Sell-side analysts forecast that Weyerhaeuser Company will post 0.32 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.5%. Weyerhaeuser's dividend payout ratio (DPR) is presently 129.23%.

Analyst Ratings Changes

WY has been the topic of several research analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $30.00 price target on shares of Weyerhaeuser in a research note on Friday, July 17th. Truist Financial restated a "hold" rating and set a $28.00 price objective (up from $27.00) on shares of Weyerhaeuser in a research report on Monday, August 3rd. DA Davidson reaffirmed a "buy" rating and issued a $31.00 target price on shares of Weyerhaeuser in a report on Tuesday, June 30th. Wall Street Zen upgraded Weyerhaeuser from a "sell" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Citigroup dropped their price target on Weyerhaeuser from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $29.00.

Weyerhaeuser Company Profile

Weyerhaeuser Company NYSE: WY is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.

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