Woodline Partners LP Takes Position in Weyerhaeuser (NYSE:WY)

Woodline Partners LP acquired a new position in shares of Weyerhaeuser (NYSE:WY - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 24,482 shares of the real estate investment trust's stock, valued at approximately $689,000.

A number of other hedge funds have also recently added to or reduced their stakes in WY. South Plains Financial Inc. purchased a new stake in Weyerhaeuser in the fourth quarter valued at approximately $25,000. Assetmark Inc. lifted its stake in shares of Weyerhaeuser by 290.9% in the 4th quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 922 shares during the period. Asset Planning Inc acquired a new position in shares of Weyerhaeuser in the fourth quarter worth about $36,000. TD Waterhouse Canada Inc. increased its stake in Weyerhaeuser by 136.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 807 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Weyerhaeuser in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 82.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WY. Truist Financial lowered their price objective on Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. CIBC cut their price objective on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Weyerhaeuser from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. assumed coverage on shares of Weyerhaeuser in a report on Tuesday, April 8th. They issued an "overweight" rating and a $31.00 price objective on the stock. Finally, Royal Bank of Canada restated an "outperform" rating and set a $36.00 target price on shares of Weyerhaeuser in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Weyerhaeuser currently has an average rating of "Moderate Buy" and an average price target of $33.75.

Weyerhaeuser Stock Up 0.6%

Weyerhaeuser stock traded up $0.15 during trading on Thursday, hitting $26.04. 3,538,248 shares of the company were exchanged, compared to its average volume of 3,759,658. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $18.89 billion, a P/E ratio of 47.35, a PEG ratio of 4.74 and a beta of 1.15. The business's 50 day moving average is $26.40 and its 200 day moving average is $28.72. Weyerhaeuser has a 52 week low of $24.10 and a 52 week high of $34.03.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, meeting analysts' consensus estimates of $0.11. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. The business's revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 EPS. Analysts predict that Weyerhaeuser will post 0.78 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Friday, May 30th. Weyerhaeuser's dividend payout ratio (DPR) is 168.00%.

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

Weyerhaeuser 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.