Westpac Banking Corp Raises Holdings in Weyerhaeuser (NYSE:WY)

Westpac Banking Corp increased its holdings in Weyerhaeuser (NYSE:WY) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 126,982 shares of the real estate investment trust’s stock after purchasing an additional 2,572 shares during the quarter. Westpac Banking Corp’s holdings in Weyerhaeuser were worth $3,575,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Assetmark Inc. raised its position 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 in the last quarter. Asset Planning Inc bought a new position in Weyerhaeuser in the fourth quarter worth about $36,000. Lee Danner & Bass Inc. purchased a new stake in shares of Weyerhaeuser during the fourth quarter valued at about $44,000. Graney & King LLC purchased a new stake in shares of Weyerhaeuser during the fourth quarter valued at about $44,000. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Weyerhaeuser by 41.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,665 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 486 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WY shares. CIBC raised shares of Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 target price for the company in a research report on Wednesday, January 15th. Cibc World Mkts raised Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Raymond James raised shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a report on Monday, December 23rd. Truist Financial reduced their price objective on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Finally, Citigroup dropped their target price on Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Weyerhaeuser Stock Up 1.4 %

Shares of WY opened at $29.54 on Thursday. The firm has a market cap of $21.44 billion, a P/E ratio of 53.71, a PEG ratio of 4.74 and a beta of 1.43. Weyerhaeuser has a 12 month low of $26.73 and a 12 month high of $35.30. The stock’s 50 day moving average is $29.97 and its two-hundred day moving average is $30.66. 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) last announced its earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Increases Dividend

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

Weyerhaeuser Company 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.