Mirador Capital Partners LP purchased a new position in shares of Weyerhaeuser (NYSE:WY - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 24,803 shares of the real estate investment trust's stock, valued at approximately $726,000.
Other hedge funds have also bought and sold shares of the company. South Plains Financial Inc. bought a new stake in Weyerhaeuser during the fourth quarter worth $25,000. Fourth Dimension Wealth LLC purchased a new stake in Weyerhaeuser in the fourth quarter worth $27,000. Assetmark Inc. increased 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 buying an additional 922 shares during the last quarter. Asset Planning Inc purchased a new stake in Weyerhaeuser in the fourth quarter worth $36,000. Finally, TD Waterhouse Canada Inc. increased its position 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 worth $39,000 after buying an additional 807 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.
Weyerhaeuser Stock Performance
Shares of NYSE WY traded up $0.53 during mid-day trading on Thursday, hitting $26.82. The company had a trading volume of 2,132,200 shares, compared to its average volume of 3,791,512. The company has a market capitalization of $19.45 billion, a price-to-earnings ratio of 48.76, a P/E/G ratio of 4.74 and a beta of 1.16. Weyerhaeuser has a 1 year low of $24.10 and a 1 year high of $34.03. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The stock's 50-day moving average price is $26.05 and its 200-day moving average price is $28.55.
Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, meeting the consensus estimate 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 return on equity of 3.86% and a net margin of 5.56%. The firm's quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 earnings per share. On average, sell-side analysts forecast that Weyerhaeuser will post 0.78 earnings per share for the current year.
Weyerhaeuser declared that its board has approved 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.
Weyerhaeuser Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Friday, May 30th. Weyerhaeuser's payout ratio is 168.00%.
Analysts Set New Price Targets
WY has been the subject of a number of recent research reports. Truist Financial decreased their target price on Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating for the company 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 research report on Tuesday. CIBC decreased 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. JPMorgan Chase & Co. initiated coverage on Weyerhaeuser in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $31.00 target price for the company. Finally, The Goldman Sachs Group downgraded Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.25.
Check Out Our Latest Stock Analysis on WY
Weyerhaeuser Profile
(
Free Report)
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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