Optas LLC Takes Position in Weyerhaeuser Company (NYSE:WY)

Optas LLC bought a new position in shares of Weyerhaeuser Company (NYSE:WY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,444 shares of the real estate investment trust's stock, valued at approximately $306,000.

Several other institutional investors also recently modified their holdings of WY. South Plains Financial Inc. acquired a new stake in Weyerhaeuser during the 4th quarter worth $25,000. Fourth Dimension Wealth LLC bought a new stake in shares of Weyerhaeuser in the fourth quarter worth about $27,000. Assetmark Inc. increased its holdings in shares of 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 acquiring an additional 922 shares in the last quarter. TD Waterhouse Canada Inc. raised its position 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. Finally, Lee Danner & Bass Inc. bought a new position in shares of Weyerhaeuser during the 4th quarter valued at about $44,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Weyerhaeuser Stock Up 0.3%

WY traded up $0.09 during trading hours on Thursday, hitting $25.96. 2,664,205 shares of the company's stock were exchanged, compared to its average volume of 3,795,966. The stock has a market cap of $18.82 billion, a price-to-earnings ratio of 51.91, a PEG ratio of 33.56 and a beta of 1.16. Weyerhaeuser Company has a 1-year low of $24.10 and a 1-year high of $34.03. The stock's 50-day moving average is $26.02 and its two-hundred day moving average is $28.22. The company has a quick ratio of 1.26, a current ratio of 2.04 and a debt-to-equity ratio of 0.52.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, hitting analysts' consensus estimates of $0.11. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. Weyerhaeuser had a net margin of 5.15% and a return on equity of 3.59%. The company's quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. Sell-side analysts predict that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser announced that its Board of Directors has initiated a share repurchase program on Thursday, May 8th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

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 given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.24%. Weyerhaeuser's dividend payout ratio (DPR) is presently 168.00%.

Weyerhaeuser Company 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.