QRG Capital Management Inc. Acquires 69,379 Shares of Weyerhaeuser Company (NYSE:WY)

QRG Capital Management Inc. boosted its position in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 23.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 370,230 shares of the real estate investment trust's stock after purchasing an additional 69,379 shares during the quarter. QRG Capital Management Inc. owned about 0.05% of Weyerhaeuser worth $10,840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in WY. South Plains Financial Inc. acquired a new stake in shares of Weyerhaeuser during the fourth quarter worth $25,000. Fourth Dimension Wealth LLC acquired a new position in Weyerhaeuser in the fourth quarter valued at about $27,000. Assetmark Inc. boosted its holdings in Weyerhaeuser by 290.9% during the fourth quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock worth $35,000 after buying an additional 922 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in shares of Weyerhaeuser by 136.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust's stock worth $39,000 after buying an additional 807 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Weyerhaeuser during the 4th quarter worth about $44,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Weyerhaeuser Stock Up 0.8%

NYSE WY traded up $0.22 during trading on Friday, hitting $26.19. The stock had a trading volume of 6,483,158 shares, compared to its average volume of 3,806,669. The company's 50-day moving average price is $26.02 and its two-hundred day moving average price is $28.18. 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 company has a market capitalization of $18.99 billion, a PE ratio of 52.37, a P/E/G ratio of 33.69 and a beta of 1.16. Weyerhaeuser Company has a 12 month low of $24.10 and a 12 month high of $34.03.

Weyerhaeuser (NYSE:WY - Get Free Report) last released 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. Weyerhaeuser had a net margin of 5.15% and a return on equity of 3.59%. The firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same period in the prior year, the firm earned $0.16 EPS. The business's revenue was down 4.9% on a year-over-year basis. As a group, sell-side analysts forecast 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. Investors of record on Friday, May 30th were issued 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 3.21%. Weyerhaeuser's payout ratio is currently 168.00%.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WY. Citigroup cut their price target on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock 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. CIBC reduced their price target on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a research report on Tuesday, April 22nd. Truist Financial decreased 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. Finally, 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.