Exchange Traded Concepts LLC Has $1.31 Million Position in Weyerhaeuser Company (NYSE:WY)

Exchange Traded Concepts LLC grew its stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 472.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 44,585 shares of the real estate investment trust's stock after buying an additional 36,795 shares during the period. Exchange Traded Concepts LLC's holdings in Weyerhaeuser were worth $1,305,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. South Plains Financial Inc. acquired a new position in shares of Weyerhaeuser during the fourth quarter valued at about $25,000. Fourth Dimension Wealth LLC acquired a new position in shares of Weyerhaeuser during the fourth quarter valued at about $27,000. Assetmark Inc. raised its position in Weyerhaeuser by 290.9% in the fourth quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 922 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in Weyerhaeuser by 136.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 807 shares during the period. Finally, Lee Danner & Bass Inc. bought a new position in Weyerhaeuser during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 82.99% of the company's stock.

Weyerhaeuser Stock Performance

NYSE:WY opened at $25.96 on Thursday. Weyerhaeuser Company has a 1 year low of $24.10 and a 1 year high of $34.03. The firm has a 50 day moving average of $26.02 and a 200-day moving average of $28.22. The company has a current ratio of 2.04, a quick ratio of 1.26 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $18.82 billion, a P/E ratio of 51.91, a price-to-earnings-growth ratio of 33.56 and a beta of 1.16.

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

Weyerhaeuser Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Friday, May 30th. Weyerhaeuser's dividend payout ratio is currently 168.00%.

Weyerhaeuser announced that its Board of Directors has authorized a share repurchase 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 typically an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. CIBC cut their price target on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a research note on Tuesday, April 22nd. Truist Financial cut their price target on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Citigroup cut their price target on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. assumed coverage on shares of Weyerhaeuser in a research note on Tuesday, April 8th. They set an "overweight" rating and a $31.00 price target for the company. 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.25.

Weyerhaeuser 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.

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