Exchange Traded Concepts LLC Grows Position in Weyerhaeuser Company (NYSE:WY)

Exchange Traded Concepts LLC increased its stake in Weyerhaeuser Company (NYSE:WY - Free Report) by 472.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,585 shares of the real estate investment trust's stock after purchasing 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 Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of WY. Principal Securities Inc. lifted its stake in Weyerhaeuser by 12.2% during the 4th quarter. Principal Securities Inc. now owns 7,151 shares of the real estate investment trust's stock valued at $201,000 after acquiring an additional 779 shares during the period. Allworth Financial LP lifted its stake in Weyerhaeuser by 93.4% during the 4th quarter. Allworth Financial LP now owns 6,951 shares of the real estate investment trust's stock valued at $207,000 after acquiring an additional 3,356 shares during the period. Strategic Financial Concepts LLC acquired a new stake in Weyerhaeuser during the 4th quarter valued at approximately $365,000. J.W. Cole Advisors Inc. lifted its stake in Weyerhaeuser by 6.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 19,997 shares of the real estate investment trust's stock valued at $563,000 after acquiring an additional 1,216 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Weyerhaeuser by 9.0% during the 4th quarter. Principal Financial Group Inc. now owns 3,603,437 shares of the real estate investment trust's stock valued at $101,439,000 after acquiring an additional 299,020 shares during the period. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. 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. JPMorgan Chase & Co. initiated coverage on shares of Weyerhaeuser in a research note on Tuesday, April 8th. They set an "overweight" rating and a $31.00 price objective for the company. CIBC decreased their target price 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. Citigroup decreased their target price 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. Finally, Truist Financial decreased their target price 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Weyerhaeuser has a consensus rating of "Moderate Buy" and an average price target of $33.25.

Weyerhaeuser Price Performance

NYSE WY traded up $0.22 on Friday, hitting $26.19. The company had a trading volume of 6,493,299 shares, compared to its average volume of 3,789,694. The company has a market capitalization of $18.99 billion, a PE ratio of 52.37, a PEG ratio of 33.96 and a beta of 1.16. The company's fifty day moving average price is $26.03 and its 200-day moving average price is $28.12. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.04 and a quick ratio of 1.26. 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 issued its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. Weyerhaeuser had a net margin of 5.15% and a return on equity of 3.59%. The firm's revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 EPS. As a group, analysts predict that Weyerhaeuser Company will post 0.78 earnings per share for the current 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 annualized dividend and a yield of 3.21%. The ex-dividend date was Friday, May 30th. Weyerhaeuser's payout ratio is presently 168.00%.

Weyerhaeuser announced that its Board of Directors has approved a stock repurchase program 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 programs are often an indication that the company's board 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.