Whalen Wealth Management Inc. Buys New Stake in Weyerhaeuser Company (NYSE:WY)

Whalen Wealth Management Inc. purchased a new position in shares of Weyerhaeuser Company (NYSE:WY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,633 shares of the real estate investment trust's stock, valued at approximately $428,000.

Several other hedge funds also recently bought and sold shares of WY. Norges Bank acquired a new position in Weyerhaeuser in the 4th quarter valued at about $638,470,000. Cohen & Steers Inc. raised its position in shares of 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 valued at $1,095,726,000 after buying an additional 14,213,243 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Weyerhaeuser by 122.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,881,592 shares of the real estate investment trust's stock valued at $137,417,000 after buying an additional 2,685,634 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in 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 last quarter. Finally, Deutsche Bank AG raised its holdings in Weyerhaeuser by 43.6% in the 4th quarter. Deutsche Bank AG now owns 4,196,790 shares of the real estate investment trust's stock valued at $118,140,000 after acquiring an additional 1,273,217 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company's stock.

Weyerhaeuser Stock Performance

NYSE:WY opened at $26.19 on Monday. The firm's fifty day simple moving average is $26.03 and its 200 day simple moving average is $28.10. The company has a current ratio of 2.04, a quick ratio of 1.26 and a debt-to-equity ratio of 0.52. Weyerhaeuser Company has a twelve month low of $24.10 and a twelve month high of $34.03. The firm has a market capitalization of $18.99 billion, a price-to-earnings ratio of 52.37, a PEG ratio of 33.96 and a beta of 1.16.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. Weyerhaeuser had a return on equity of 3.59% and a net margin of 5.15%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company posted $0.16 earnings per share. The firm's revenue was down 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

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

Weyerhaeuser Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend was Friday, May 30th. Weyerhaeuser's dividend payout ratio (DPR) is presently 168.00%.

Wall Street Analysts Forecast Growth

WY has been the subject of several analyst reports. JPMorgan Chase & Co. assumed coverage on Weyerhaeuser in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $31.00 target price for the company. Citigroup dropped their price objective on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a research note on Tuesday, June 3rd. Truist Financial cut their price objective on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. CIBC lowered their target price on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group downgraded shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $33.25.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.