Beach Investment Counsel Inc. PA Sells 6,900 Shares of Weyerhaeuser (NYSE:WY)

Beach Investment Counsel Inc. PA lowered its position in shares of Weyerhaeuser (NYSE:WY) by 5.5% in the first quarter, Holdings Channel reports. The firm owned 119,550 shares of the real estate investment trust’s stock after selling 6,900 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Weyerhaeuser were worth $3,500,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of WY. Cohen & Steers Inc. boosted its position in shares of Weyerhaeuser by 57.5% during the fourth quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust’s stock worth $1,095,726,000 after purchasing an additional 14,213,243 shares in the last quarter. Norges Bank bought a new stake in shares of Weyerhaeuser in the 4th quarter valued at $638,470,000. Geode Capital Management LLC raised its stake in Weyerhaeuser by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 20,171,701 shares of the real estate investment trust’s stock worth $566,527,000 after buying an additional 637,643 shares during the period. First Eagle Investment Management LLC lifted its holdings in Weyerhaeuser by 1.1% during the fourth quarter. First Eagle Investment Management LLC now owns 14,362,306 shares of the real estate investment trust’s stock worth $404,299,000 after acquiring an additional 158,800 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Weyerhaeuser by 3.5% during the fourth quarter. Northern Trust Corp now owns 9,538,125 shares of the real estate investment trust’s stock worth $268,498,000 after acquiring an additional 322,313 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Trading Up 0.1%

NYSE WY opened at $26.74 on Friday. Weyerhaeuser has a 52 week low of $24.10 and a 52 week high of $34.03. 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 stock’s 50 day moving average price is $25.95 and its two-hundred day moving average price is $28.48. The stock has a market capitalization of $19.39 billion, a price-to-earnings ratio of 48.62, a PEG ratio of 4.74 and a beta of 1.16.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. The firm’s revenue was down 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.16 earnings per share. As a group, analysts anticipate that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser declared that its board has approved a share buyback program on Thursday, May 8th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the real estate investment trust to repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.21 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.14%. Weyerhaeuser’s payout ratio is currently 168.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. began coverage on Weyerhaeuser in a report on Tuesday, April 8th. They issued an “overweight” rating and a $31.00 price target for the company. The Goldman Sachs Group lowered Weyerhaeuser from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, May 23rd. Citigroup dropped their target price on shares of Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, June 3rd. Truist Financial cut their price target on shares of Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. Finally, CIBC lowered their price objective on shares of Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating for the company in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.25.

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.