Assenagon Asset Management S.A. Has $848,000 Holdings in Weyerhaeuser Company (NYSE:WY)

Assenagon Asset Management S.A. trimmed its stake in Weyerhaeuser Company (NYSE:WY - Free Report) by 71.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,974 shares of the real estate investment trust's stock after selling 71,164 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Weyerhaeuser were worth $848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Cohen & Steers Inc. increased its holdings in Weyerhaeuser by 57.5% in the fourth 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 last quarter. Norges Bank bought a new stake in Weyerhaeuser in the fourth quarter worth approximately $638,470,000. Geode Capital Management LLC increased its stake in shares of Weyerhaeuser by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 20,171,701 shares of the real estate investment trust's stock worth $566,527,000 after purchasing an additional 637,643 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Weyerhaeuser by 1.1% during the 4th quarter. First Eagle Investment Management LLC now owns 14,362,306 shares of the real estate investment trust's stock worth $404,299,000 after purchasing an additional 158,800 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Weyerhaeuser by 3.5% during the 4th quarter. Northern Trust Corp now owns 9,538,125 shares of the real estate investment trust's stock valued at $268,498,000 after purchasing an additional 322,313 shares in the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WY has been the subject of a number of analyst reports. Truist Financial reduced their price target on Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Citigroup reduced their target price on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. CIBC lowered their price target on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group lowered shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. began coverage on shares of Weyerhaeuser in a report on Tuesday, April 8th. They set an "overweight" rating and a $31.00 price objective for the company. One investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.25.

Weyerhaeuser Stock Performance

Shares of NYSE:WY traded up $0.09 during trading on Thursday, hitting $25.96. 2,664,205 shares of the stock were exchanged, compared to its average volume of 3,795,966. The company has a market capitalization of $18.82 billion, a price-to-earnings ratio of 51.91, a price-to-earnings-growth ratio of 33.56 and a beta of 1.16. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.26 and a current ratio of 2.04. Weyerhaeuser Company has a 1-year low of $24.10 and a 1-year high of $34.03. The company's fifty day simple moving average is $26.02 and its 200-day simple moving average is $28.22.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. Weyerhaeuser had a return on equity of 3.59% and a net margin of 5.15%. The firm had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same period last year, the business earned $0.16 earnings per share. Weyerhaeuser's quarterly revenue was down 4.9% compared to the same quarter last year. Sell-side analysts expect that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued 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 of this dividend was Friday, May 30th. Weyerhaeuser's payout ratio is 168.00%.

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

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.