QRG Capital Management Inc. Lowers Stock Position in Weyerhaeuser (NYSE:WY)

QRG Capital Management Inc. reduced its position in shares of Weyerhaeuser (NYSE:WY) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 300,851 shares of the real estate investment trust’s stock after selling 4,815 shares during the period. QRG Capital Management Inc.’s holdings in Weyerhaeuser were worth $8,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WY. Proficio Capital Partners LLC bought a new position in shares of Weyerhaeuser during the 4th quarter worth approximately $1,693,000. Pine Valley Investments Ltd Liability Co lifted its holdings in Weyerhaeuser by 23.3% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 54,845 shares of the real estate investment trust’s stock worth $1,544,000 after acquiring an additional 10,364 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Weyerhaeuser in the fourth quarter worth $736,000. Union Bancaire Privee UBP SA bought a new position in Weyerhaeuser in the 4th quarter valued at $2,828,000. Finally, Wealthspire Advisors LLC grew its stake in Weyerhaeuser by 8.4% in the 4th quarter. Wealthspire Advisors LLC now owns 13,162 shares of the real estate investment trust’s stock valued at $371,000 after purchasing an additional 1,024 shares during the period. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WY. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Weyerhaeuser in a research note on Monday, February 3rd. BMO Capital Markets raised shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research report on Friday, December 6th. Truist Financial dropped their target price on shares of Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. CIBC upgraded shares of Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price target for the company in a research note on Wednesday, January 15th. Finally, Cibc World Mkts upgraded Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Weyerhaeuser currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Weyerhaeuser Stock Performance

Shares of WY stock opened at $30.06 on Friday. The firm’s 50 day moving average is $29.37 and its 200 day moving average is $30.78. The stock has a market capitalization of $21.81 billion, a P/E ratio of 54.66, a PEG ratio of 4.74 and a beta of 1.42. Weyerhaeuser has a 12 month low of $26.73 and a 12 month high of $36.27. 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 posted its earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. On average, sell-side analysts anticipate that Weyerhaeuser will post 0.78 earnings per share for the current year.

Weyerhaeuser Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.21 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.84 annualized dividend and a yield of 2.79%. This is an increase from Weyerhaeuser’s previous quarterly dividend of $0.20. Weyerhaeuser’s dividend payout ratio (DPR) is currently 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.