California Public Employees Retirement System Sells 83,845 Shares of Weyerhaeuser (NYSE:WY)

California Public Employees Retirement System decreased its holdings in shares of Weyerhaeuser (NYSE:WY) by 6.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,284,814 shares of the real estate investment trust’s stock after selling 83,845 shares during the period. California Public Employees Retirement System’s holdings in Weyerhaeuser were worth $36,168,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Assetmark Inc. raised its stake in Weyerhaeuser by 290.9% during 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 during the last quarter. Asset Planning Inc purchased a new position in shares of Weyerhaeuser in the 4th quarter worth about $36,000. Lee Danner & Bass Inc. bought a new position in Weyerhaeuser in the 4th quarter worth about $44,000. Graney & King LLC purchased a new stake in Weyerhaeuser during the 4th quarter valued at about $44,000. Finally, AdvisorNet Financial Inc increased its stake in Weyerhaeuser by 41.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,665 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 486 shares in the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on WY. Raymond James upgraded Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a research note on Monday, December 23rd. StockNews.com raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Citigroup dropped their target price on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. CIBC upgraded shares of Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 target price for the company in a research note on Wednesday, January 15th. Finally, Truist Financial lowered their price target on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.00.

Weyerhaeuser Trading Up 1.4 %

NYSE:WY opened at $29.54 on Thursday. Weyerhaeuser has a one year low of $26.73 and a one year high of $35.30. The business has a fifty day moving average price of $29.97 and a 200-day moving average price of $30.66. The firm has a market capitalization of $21.44 billion, a price-to-earnings ratio of 53.71, a price-to-earnings-growth ratio of 4.74 and a beta of 1.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.79 and a quick ratio of 1.17.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. Sell-side analysts forecast that Weyerhaeuser will post 0.78 EPS for the current year.

Weyerhaeuser Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.84 annualized dividend and a yield of 2.84%. This is an increase from Weyerhaeuser’s previous quarterly dividend of $0.20. Weyerhaeuser’s payout ratio is currently 152.73%.

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.