Public Employees Retirement System of Ohio Sells 27,261 Shares of Weyerhaeuser (NYSE:WY)

Public Employees Retirement System of Ohio decreased its stake in Weyerhaeuser (NYSE:WY - Free Report) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 271,553 shares of the real estate investment trust's stock after selling 27,261 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Weyerhaeuser were worth $7,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. South Plains Financial Inc. bought a new stake in Weyerhaeuser in the 4th quarter valued at approximately $25,000. Fourth Dimension Wealth LLC bought a new stake in Weyerhaeuser during the 4th quarter worth about $27,000. Assetmark Inc. grew its stake in shares of Weyerhaeuser by 290.9% in the fourth quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 922 shares in the last quarter. Asset Planning Inc acquired a new position in shares of Weyerhaeuser during the 4th quarter worth about $36,000. Finally, TD Waterhouse Canada Inc. increased its position in Weyerhaeuser by 136.1% during the fourth 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 last quarter. Institutional investors own 82.99% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. CIBC dropped 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. Truist Financial dropped their price objective 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. The Goldman Sachs Group cut shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $36.00 price target on shares of Weyerhaeuser in a research note on Monday, February 3rd. Finally, Wall Street Zen raised shares of Weyerhaeuser from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.75.

Weyerhaeuser Stock Performance

Shares of NYSE:WY traded down $0.13 on Friday, reaching $25.91. 11,663,758 shares of the company's stock were exchanged, compared to its average volume of 3,791,705. Weyerhaeuser has a twelve month low of $24.10 and a twelve month high of $34.03. The company has a fifty day moving average of $26.26 and a 200-day moving average of $28.62. The company has a market capitalization of $18.79 billion, a price-to-earnings ratio of 47.11, a PEG ratio of 4.74 and a beta of 1.15. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, hitting analysts' consensus estimates of $0.11. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the company earned $0.16 EPS. The company's revenue was down 4.9% on a year-over-year basis. On average, research analysts predict that Weyerhaeuser will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.24%. Weyerhaeuser's dividend payout ratio (DPR) is currently 168.00%.

Weyerhaeuser declared that its board has initiated a share buyback program on Thursday, May 8th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are 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.