Garner Asset Management Corp Reduces Stake in Weyerhaeuser (NYSE:WY)

Garner Asset Management Corp cut its position in shares of Weyerhaeuser (NYSE:WY) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,481 shares of the real estate investment trust’s stock after selling 680 shares during the period. Garner Asset Management Corp’s holdings in Weyerhaeuser were worth $1,506,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Rockefeller Capital Management L.P. grew its position in Weyerhaeuser by 9.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 92,599 shares of the real estate investment trust’s stock worth $2,609,000 after purchasing an additional 8,354 shares during the period. Sterling Capital Management LLC grew its holdings in shares of Weyerhaeuser by 11.4% during the 4th quarter. Sterling Capital Management LLC now owns 151,162 shares of the real estate investment trust’s stock worth $4,255,000 after purchasing an additional 15,415 shares during the period. Treasurer of the State of North Carolina lifted its stake in Weyerhaeuser by 0.5% during the fourth quarter. Treasurer of the State of North Carolina now owns 329,133 shares of the real estate investment trust’s stock worth $9,265,000 after purchasing an additional 1,480 shares in the last quarter. Capital Fund Management S.A. grew its stake in shares of Weyerhaeuser by 381.6% in the fourth quarter. Capital Fund Management S.A. now owns 420,025 shares of the real estate investment trust’s stock worth $11,824,000 after acquiring an additional 332,806 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in Weyerhaeuser by 1.2% in the fourth quarter. Bessemer Group Inc. now owns 42,151 shares of the real estate investment trust’s stock valued at $1,187,000 after buying an additional 491 shares during the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Weyerhaeuser Trading Down 0.2 %

NYSE WY opened at $25.76 on Friday. Weyerhaeuser has a twelve month low of $24.10 and a twelve month high of $34.03. The business’s fifty day moving average is $29.14 and its 200 day moving average is $30.22. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50. The company has a market cap of $18.69 billion, a price-to-earnings ratio of 46.83, a price-to-earnings-growth ratio of 4.74 and a beta of 1.25.

Weyerhaeuser (NYSE:WY) last issued its earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share 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%. As a group, sell-side analysts expect that Weyerhaeuser will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Friday, March 7th. This is a positive change from Weyerhaeuser’s previous quarterly dividend of $0.20. Weyerhaeuser’s dividend payout ratio (DPR) is currently 152.73%.

Wall Street Analyst Weigh In

WY has been the topic of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Weyerhaeuser in a research note on Monday, February 3rd. Truist Financial cut their price target on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Citigroup lowered their price objective on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating 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. Finally, CIBC raised 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. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Weyerhaeuser presently has an average rating of “Moderate Buy” and a consensus price target of $34.50.

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.