Garner Asset Management Corp Sells 16,709 Shares of Weyerhaeuser Company (NYSE:WY)

Garner Asset Management Corp lessened its holdings in Weyerhaeuser Company (NYSE:WY - Free Report) by 31.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,772 shares of the real estate investment trust's stock after selling 16,709 shares during the period. Garner Asset Management Corp's holdings in Weyerhaeuser were worth $1,077,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WY. South Plains Financial Inc. purchased a new position in Weyerhaeuser in the fourth quarter valued at $25,000. Fourth Dimension Wealth LLC purchased a new position in Weyerhaeuser in the fourth quarter valued at $27,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Weyerhaeuser in the first quarter valued at $31,000. TD Waterhouse Canada Inc. increased its holdings in Weyerhaeuser by 136.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 807 shares during the last quarter. Finally, Graney & King LLC purchased a new position in Weyerhaeuser in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 82.99% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Truist Financial cut their price target on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group lowered shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. Wall Street Zen lowered shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. DA Davidson dropped their price objective on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Citigroup dropped their price objective on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock in a research note on Tuesday, June 3rd. Two analysts have rated the stock with a sell rating, two have 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, the company has a consensus rating of "Moderate Buy" and an average target price of $33.00.

Weyerhaeuser Stock Performance

Shares of WY stock traded up $0.85 during trading hours on Friday, reaching $26.53. The stock had a trading volume of 3,626,510 shares, compared to its average volume of 4,048,827. 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 twelve month low of $24.10 and a twelve month high of $34.03. The firm has a 50-day simple moving average of $26.13 and a 200-day simple moving average of $27.63. The firm has a market capitalization of $19.24 billion, a PE ratio of 53.13, a price-to-earnings-growth ratio of 50.05 and a beta of 1.14.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. Weyerhaeuser had a net margin of 5.15% and a return on equity of 3.59%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm posted $0.21 EPS. The business's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts forecast that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Announces Dividend

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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, May 30th. Weyerhaeuser's dividend payout ratio is currently 168.00%.

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

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.