Prosperity Wealth Management Inc. Acquires Shares of 11,350 Weyerhaeuser Company (NYSE:WY)

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

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Weyerhaeuser during the 4th quarter worth $638,470,000. Cohen & Steers Inc. grew its position in shares of Weyerhaeuser by 57.5% during the 4th quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust's stock worth $1,095,726,000 after buying an additional 14,213,243 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Weyerhaeuser by 122.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,881,592 shares of the real estate investment trust's stock worth $137,417,000 after buying an additional 2,685,634 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of Weyerhaeuser by 23,525.2% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,428,378 shares of the real estate investment trust's stock worth $41,823,000 after buying an additional 1,422,332 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of Weyerhaeuser by 43.6% during the 4th quarter. Deutsche Bank AG now owns 4,196,790 shares of the real estate investment trust's stock worth $118,140,000 after buying an additional 1,273,217 shares in the last quarter. Institutional investors own 82.99% of the company's stock.

Weyerhaeuser Trading Down 3.0%

Shares of NYSE WY opened at $25.89 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.04 and a quick ratio of 1.26. The stock has a market capitalization of $18.78 billion, a P/E ratio of 51.78, a price-to-earnings-growth ratio of 34.64 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 business has a fifty day moving average price of $26.03 and a 200 day moving average price of $28.24.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, hitting 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 firm'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. Equities research analysts expect that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser announced that its board has approved a share repurchase plan on Thursday, May 8th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the real estate investment trust to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Weyerhaeuser Dividend Announcement

The business also recently disclosed 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Friday, May 30th. Weyerhaeuser's dividend payout ratio (DPR) is currently 168.00%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WY. The Goldman Sachs Group downgraded Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. Truist Financial dropped 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. CIBC dropped their price target on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a research report on Tuesday, April 22nd. Citigroup dropped their price target on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock in a research report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. began coverage on Weyerhaeuser in a research report on Tuesday, April 8th. They set an "overweight" rating and a $31.00 price target on the stock. One investment 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. According to MarketBeat.com, Weyerhaeuser has an average rating of "Moderate Buy" and an average price target of $33.25.

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.

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