Teacher Retirement System of Texas Invests $3.11 Million in Weyerhaeuser Company (NYSE:WY)

Teacher Retirement System of Texas bought a new position in Weyerhaeuser Company (NYSE:WY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 106,230 shares of the real estate investment trust's stock, valued at approximately $3,110,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in Weyerhaeuser in the 4th quarter worth about $638,470,000. Cohen & Steers Inc. increased its stake in Weyerhaeuser by 57.5% in 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 during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of Weyerhaeuser by 23,525.2% during the first 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 acquiring an additional 1,422,332 shares during the period. Deutsche Bank AG increased its position in shares of Weyerhaeuser by 43.6% during the fourth quarter. Deutsche Bank AG now owns 4,196,790 shares of the real estate investment trust's stock worth $118,140,000 after acquiring an additional 1,273,217 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Weyerhaeuser during the fourth quarter worth approximately $27,332,000. Hedge funds and other institutional investors own 82.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on WY. Citigroup reduced their price objective on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock in a report on Tuesday, June 3rd. CIBC cut their price target on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group lowered Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. cut their price target on Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 1st. Finally, Truist Financial cut their target price on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Weyerhaeuser presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.13.

Weyerhaeuser Stock Up 2.0%

Shares of Weyerhaeuser stock opened at $26.16 on Wednesday. The firm's 50 day moving average price is $26.20 and its 200-day moving average price is $27.82. The company has a quick ratio of 1.26, a current ratio of 2.04 and a debt-to-equity ratio of 0.52. Weyerhaeuser Company has a 52-week low of $24.10 and a 52-week high of $34.03. The company has a market cap of $18.97 billion, a P/E ratio of 52.32, a PEG ratio of 38.06 and a beta of 1.14.

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 (EPS) for the quarter, hitting the consensus estimate of $0.11. Weyerhaeuser had a net margin of 5.15% and a return on equity of 3.59%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the company earned $0.16 earnings per share. The business's revenue for the quarter was down 4.9% on a year-over-year basis. On average, sell-side analysts predict that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser announced that its Board of Directors has authorized a share buyback program on Thursday, May 8th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are 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 was Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.21%. Weyerhaeuser's dividend payout ratio (DPR) is 168.00%.

About Weyerhaeuser

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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