Pacific Heights Asset Management LLC Buys 50,000 Shares of Weyerhaeuser Company (NYSE:WY)

Pacific Heights Asset Management LLC raised its position in Weyerhaeuser Company (NYSE:WY - Free Report) by 33.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 200,000 shares of the real estate investment trust's stock after buying an additional 50,000 shares during the period. Pacific Heights Asset Management LLC's holdings in Weyerhaeuser were worth $5,856,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in WY. IFM Investors Pty Ltd boosted its holdings in Weyerhaeuser by 11.6% in the first quarter. IFM Investors Pty Ltd now owns 167,910 shares of the real estate investment trust's stock valued at $4,916,000 after acquiring an additional 17,387 shares during the last quarter. Calamos Advisors LLC lifted its position in Weyerhaeuser by 1.1% during the 1st quarter. Calamos Advisors LLC now owns 225,885 shares of the real estate investment trust's stock valued at $6,614,000 after purchasing an additional 2,516 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of Weyerhaeuser by 24.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 15,764 shares of the real estate investment trust's stock valued at $462,000 after purchasing an additional 3,084 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Weyerhaeuser by 4.7% during the 1st quarter. D.A. Davidson & CO. now owns 256,146 shares of the real estate investment trust's stock worth $7,500,000 after buying an additional 11,540 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of Weyerhaeuser during the first quarter worth approximately $3,110,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Trading Down 1.1%

Shares of WY traded down $0.30 during trading hours on Friday, reaching $26.41. The stock had a trading volume of 2,532,915 shares, compared to its average volume of 3,835,384. The company has a market cap of $19.15 billion, a P/E ratio of 52.81, a P/E/G ratio of 39.23 and a beta of 1.14. Weyerhaeuser Company has a 52 week low of $24.10 and a 52 week high of $34.03. The company has a quick ratio of 1.26, a current ratio of 2.04 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average of $26.16 and a 200 day moving average of $27.86.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its 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 firm had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. Weyerhaeuser had a return on equity of 3.59% and a net margin of 5.15%. The company's revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 earnings per share. On average, sell-side analysts expect that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser announced that its Board of Directors has approved a stock 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 repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its stock is undervalued.

Weyerhaeuser Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 3.18%. Weyerhaeuser's payout ratio is 168.00%.

Wall Street Analyst Weigh In

WY has been the topic of several analyst reports. 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. Truist Financial reduced their price target on Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price objective on Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a research note on Tuesday. Citigroup cut their target price on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock in a research note on Tuesday, June 3rd. Finally, CIBC reduced their target price on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.13.

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.