GAMMA Investing LLC Acquires 446,467 Shares of Weyerhaeuser (NYSE:WY)

GAMMA Investing LLC grew its stake in shares of Weyerhaeuser (NYSE:WY - Free Report) by 3,511.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 459,182 shares of the real estate investment trust's stock after buying an additional 446,467 shares during the quarter. GAMMA Investing LLC owned 0.06% of Weyerhaeuser worth $13,445,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of WY. South Plains Financial Inc. bought a new stake in Weyerhaeuser during the 4th quarter valued at $25,000. Fourth Dimension Wealth LLC purchased a new position in shares of Weyerhaeuser in the fourth quarter valued at about $27,000. Assetmark Inc. raised its stake in shares of Weyerhaeuser by 290.9% during the fourth quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 922 shares during the last quarter. Asset Planning Inc bought a new position in shares of Weyerhaeuser during the fourth quarter valued at about $36,000. Finally, TD Waterhouse Canada Inc. boosted its holdings in shares of 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. Institutional investors own 82.99% of the company's stock.

Weyerhaeuser Stock Up 2.1%

Shares of WY stock traded up $0.58 during mid-day trading on Tuesday, reaching $27.59. 3,440,785 shares of the company's stock traded hands, compared to its average volume of 3,807,145. The company's 50-day moving average price is $25.90 and its 200-day moving average price is $28.43. The company has a market cap of $20.01 billion, a P/E ratio of 50.16, a P/E/G ratio of 4.74 and a beta of 1.16. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50. Weyerhaeuser 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 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 5.56% and a return on equity of 3.86%. Weyerhaeuser's revenue was down 4.9% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. On average, equities analysts expect that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser announced that its board has approved a stock buyback program on Thursday, May 8th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Weyerhaeuser Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a $0.21 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.05%. Weyerhaeuser's dividend payout ratio is currently 168.00%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. CIBC reduced their price target on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 22nd. Truist Financial cut their price objective on Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Citigroup decreased their target price on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. JPMorgan Chase & Co. began coverage on Weyerhaeuser in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $31.00 price target for the company. Finally, The Goldman Sachs Group downgraded shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $33.25.

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.