26,408 Shares in Weyerhaeuser (NYSE:WY) Acquired by Summit Financial LLC

Summit Financial LLC bought a new stake in shares of Weyerhaeuser (NYSE:WY) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 26,408 shares of the real estate investment trust’s stock, valued at approximately $743,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Weyerhaeuser during the fourth quarter valued at $638,470,000. Wellington Management Group LLP increased its position in Weyerhaeuser by 12.7% during the 3rd quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust’s stock valued at $1,210,694,000 after purchasing an additional 4,035,048 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Weyerhaeuser by 122.3% in the 4th 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 purchasing an additional 2,685,634 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Weyerhaeuser in the 3rd quarter worth approximately $40,773,000. Finally, Raymond James Financial Inc. bought a new position in shares of Weyerhaeuser during the fourth quarter valued at approximately $26,206,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Weyerhaeuser Price Performance

Shares of WY stock opened at $29.54 on Thursday. Weyerhaeuser has a fifty-two week low of $26.73 and a fifty-two week high of $35.30. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.79. The firm has a market capitalization of $21.44 billion, a price-to-earnings ratio of 53.71, a PEG ratio of 4.74 and a beta of 1.43. The stock’s 50-day simple moving average is $29.97 and its 200-day simple moving average is $30.66.

Weyerhaeuser (NYSE:WY) last released its earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. As a group, equities analysts forecast that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.21 dividend. This is a positive change from Weyerhaeuser’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.84 dividend on an annualized basis and a yield of 2.84%. Weyerhaeuser’s dividend payout ratio (DPR) is 152.73%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WY shares. Truist Financial lowered their target price on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a report on Monday, January 6th. StockNews.com raised Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Raymond James upgraded shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a report on Monday, December 23rd. CIBC upgraded shares of Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price target on the stock in a report on Wednesday, January 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Weyerhaeuser in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

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.