ProShare Advisors LLC Cuts Stock Position in Weyerhaeuser (NYSE:WY)

ProShare Advisors LLC lowered its holdings in Weyerhaeuser (NYSE:WY - Free Report) by 47.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 180,245 shares of the real estate investment trust's stock after selling 164,895 shares during the period. ProShare Advisors LLC's holdings in Weyerhaeuser were worth $5,074,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of WY. South Plains Financial Inc. bought a new stake in shares of Weyerhaeuser in the fourth quarter valued at $25,000. Assetmark Inc. raised its stake 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 valued at $35,000 after buying an additional 922 shares during the period. Asset Planning Inc bought a new stake in shares of Weyerhaeuser in the fourth quarter valued at $36,000. TD Waterhouse Canada Inc. raised its stake in shares of 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 period. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Weyerhaeuser in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 82.99% of the company's stock.

Weyerhaeuser Price Performance

Shares of NYSE WY opened at $26.49 on Tuesday. The firm has a market capitalization of $19.21 billion, a P/E ratio of 48.16, a P/E/G ratio of 4.74 and a beta of 1.15. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50. The stock's 50-day simple moving average is $26.97 and its two-hundred day simple moving average is $28.98. Weyerhaeuser has a twelve month low of $24.10 and a twelve month high of $34.03.

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

Weyerhaeuser Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 3.17%. Weyerhaeuser's dividend payout ratio (DPR) is presently 168.00%.

Weyerhaeuser declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 8th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WY shares. StockNews.com upgraded Weyerhaeuser from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. assumed coverage on Weyerhaeuser in a research note on Tuesday, April 8th. They set an "overweight" rating and a $31.00 price objective on the stock. Truist Financial decreased their price objective on Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. CIBC decreased their price objective on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a research note on Tuesday, April 22nd. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $36.00 price objective on shares of Weyerhaeuser in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $33.75.

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.

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