Gateway Investment Advisers LLC Reduces Position in Weyerhaeuser (NYSE:WY)

Gateway Investment Advisers LLC decreased its holdings in Weyerhaeuser (NYSE:WY - Free Report) by 25.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 98,574 shares of the real estate investment trust's stock after selling 32,996 shares during the period. Gateway Investment Advisers LLC's holdings in Weyerhaeuser were worth $2,886,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Weyerhaeuser during the 4th quarter valued at approximately $638,470,000. Cohen & Steers Inc. increased its position in shares of Weyerhaeuser by 57.5% during the fourth quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust's stock valued at $1,095,726,000 after acquiring an additional 14,213,243 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Weyerhaeuser by 122.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,881,592 shares of the real estate investment trust's stock worth $137,417,000 after purchasing an additional 2,685,634 shares during the period. Deutsche Bank AG raised its position in Weyerhaeuser by 43.6% in the fourth quarter. Deutsche Bank AG now owns 4,196,790 shares of the real estate investment trust's stock valued at $118,140,000 after purchasing an additional 1,273,217 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Weyerhaeuser in the fourth quarter valued at $27,332,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. CIBC dropped their target price on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a research report 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. Citigroup cut their target price 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. JPMorgan Chase & Co. initiated coverage on shares of Weyerhaeuser in a report on Tuesday, April 8th. They set an "overweight" rating and a $31.00 target price on the stock. Finally, Truist Financial decreased their price target on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $33.25.

Weyerhaeuser Trading Up 0.1%

NYSE WY opened at $26.74 on Friday. 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 52 week low of $24.10 and a 52 week high of $34.03. The stock has a market capitalization of $19.39 billion, a PE ratio of 48.62, a price-to-earnings-growth ratio of 4.74 and a beta of 1.16. The firm has a 50 day moving average of $25.95 and a two-hundred day moving average of $28.48.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, meeting analysts' consensus estimates of $0.11. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. The company's revenue was down 4.9% on a year-over-year basis. During the same period last year, the business earned $0.16 EPS. As a group, research analysts expect that Weyerhaeuser will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Friday, May 30th. Weyerhaeuser's dividend payout ratio is presently 168.00%.

Weyerhaeuser declared that its board has initiated a stock buyback program on Thursday, May 8th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the real estate investment trust to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is 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.

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