Tribune Investment Group LP Makes New $6.73 Million Investment in Weyerhaeuser Company $WY

Key Points

• Tribune Investment Group LP has acquired a new stake in Weyerhaeuser Company, purchasing 230,000 shares for approximately $6.73 million, making it the 13th largest holding in their portfolio.
• Weyerhaeuser recently announced a quarterly dividend of $0.21 per share, resulting in an annual yield of 3.2%, with a payout ratio of 221.05%.
• Weyerhaeuser's stock has seen recent price target reductions from multiple analysts, with estimates now ranging between $29.00 and $36.00, indicating a cautious outlook on the company’s performance.

Tribune Investment Group LP bought a new stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 230,000 shares of the real estate investment trust's stock, valued at approximately $6,734,000. Weyerhaeuser accounts for 2.9% of Tribune Investment Group LP's portfolio, making the stock its 13th largest holding.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Weyerhaeuser by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 113,775,816 shares of the real estate investment trust's stock valued at $3,331,356,000 after buying an additional 339,884 shares during the period. Wellington Management Group LLP boosted its position in Weyerhaeuser by 0.5% in the first quarter. Wellington Management Group LLP now owns 35,766,174 shares of the real estate investment trust's stock worth $1,047,234,000 after purchasing an additional 193,854 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Weyerhaeuser by 3.8% during the 1st quarter. JPMorgan Chase & Co. now owns 11,931,955 shares of the real estate investment trust's stock valued at $349,368,000 after purchasing an additional 440,163 shares during the period. Northern Trust Corp boosted its holdings in shares of Weyerhaeuser by 3.5% in the fourth quarter. Northern Trust Corp now owns 9,538,125 shares of the real estate investment trust's stock worth $268,498,000 after buying an additional 322,313 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Weyerhaeuser by 1.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,138,010 shares of the real estate investment trust's stock valued at $267,561,000 after buying an additional 151,929 shares during the period. 82.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Weyerhaeuser

In other news, Director Sara Grootwassink Lewis acquired 4,000 shares of the company's stock in a transaction on Monday, August 11th. The stock was bought at an average cost of $25.29 per share, with a total value of $101,160.00. Following the completion of the purchase, the director directly owned 21,478 shares of the company's stock, valued at $543,178.62. This represents a 22.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.27% of the company's stock.

Weyerhaeuser Stock Down 1.3%

WY opened at $25.9950 on Thursday. The company has a market capitalization of $18.76 billion, a PE ratio of 68.41, a price-to-earnings-growth ratio of 80.63 and a beta of 1.08. The firm has a 50-day simple moving average of $25.97 and a two-hundred day simple moving average of $27.12. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.45. Weyerhaeuser Company has a 52 week low of $24.10 and a 52 week high of $34.03.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.94 billion. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%.The firm's revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 earnings per share. Analysts forecast that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

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

Weyerhaeuser Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 29th. Weyerhaeuser's payout ratio is presently 221.05%.

Analysts Set New Price Targets

A number of analysts have commented on WY shares. DA Davidson reduced their target price on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 22nd. JPMorgan Chase & Co. cut their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. Wall Street Zen downgraded Weyerhaeuser from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Truist Financial cut their price objective on Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a research note on Monday, July 28th. Finally, Citigroup decreased 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $32.88.

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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