Prosperity Wealth Management Inc. Acquires New Holdings in Weyerhaeuser Company (NYSE:WY)

Prosperity Wealth Management Inc. bought a new stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,350 shares of the real estate investment trust's stock, valued at approximately $332,000.

Several other institutional investors have also recently made changes to their positions in the company. Cultivar Capital Inc. increased its holdings in Weyerhaeuser by 1.7% in the 1st quarter. Cultivar Capital Inc. now owns 334,388 shares of the real estate investment trust's stock worth $9,791,000 after acquiring an additional 5,677 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Weyerhaeuser by 23.1% in the 1st quarter. QRG Capital Management Inc. now owns 370,230 shares of the real estate investment trust's stock worth $10,840,000 after acquiring an additional 69,379 shares in the last quarter. Sowell Financial Services LLC increased its holdings in Weyerhaeuser by 3.2% in the 1st quarter. Sowell Financial Services LLC now owns 75,592 shares of the real estate investment trust's stock worth $2,213,000 after acquiring an additional 2,347 shares in the last quarter. Brown Miller Wealth Management LLC purchased a new stake in Weyerhaeuser in the 1st quarter worth $263,000. Finally, Optas LLC purchased a new stake in Weyerhaeuser in the 1st quarter worth $306,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WY has been the subject of several recent analyst reports. Truist Financial cut their price target on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Citigroup lowered 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. CIBC lowered their target price on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. initiated coverage on shares of Weyerhaeuser in a research note on Tuesday, April 8th. They set an "overweight" rating and a $31.00 target price on the stock. Finally, The Goldman Sachs Group cut shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. One 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, Weyerhaeuser currently has a consensus rating of "Moderate Buy" and an average price target of $33.25.

Weyerhaeuser Trading Up 0.8%

Shares of WY stock traded up $0.22 on Friday, hitting $26.19. 6,493,299 shares of the stock traded hands, compared to its average volume of 3,789,694. The firm's 50-day moving average price is $26.03 and its two-hundred day moving average price is $28.12. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.26 and a current ratio of 2.04. The stock has a market capitalization of $18.99 billion, a PE ratio of 52.37, a PEG ratio of 33.96 and a beta of 1.16. Weyerhaeuser Company 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 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 firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. Weyerhaeuser had a net margin of 5.15% and a return on equity of 3.59%. The company's revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS. As a group, analysts anticipate that Weyerhaeuser Company will post 0.78 EPS for the current year.

Weyerhaeuser Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders 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 dividend yield of 3.21%. Weyerhaeuser's payout ratio is 168.00%.

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

Weyerhaeuser 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.