Accordant Advisory Group Inc Acquires 34,194 Shares of Weyerhaeuser (NYSE:WY)

Accordant Advisory Group Inc raised its position in shares of Weyerhaeuser (NYSE:WY) by 42.0% in the first quarter, HoldingsChannel.com reports. The firm owned 115,705 shares of the real estate investment trust’s stock after purchasing an additional 34,194 shares during the quarter. Weyerhaeuser accounts for approximately 3.3% of Accordant Advisory Group Inc’s portfolio, making the stock its 12th biggest holding. Accordant Advisory Group Inc’s holdings in Weyerhaeuser were worth $3,388,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. South Plains Financial Inc. bought a new stake in shares of Weyerhaeuser in the 4th quarter valued at $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Weyerhaeuser in the 4th quarter worth about $27,000. Assetmark Inc. lifted its holdings in shares of Weyerhaeuser by 290.9% in the fourth quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 922 shares in the last quarter. Asset Planning Inc bought a new position in Weyerhaeuser during the 4th quarter valued at $36,000. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Weyerhaeuser by 136.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 807 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.

Analyst Ratings Changes

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

Weyerhaeuser Stock Performance

NYSE WY opened at $27.35 on Thursday. The company has a 50-day simple moving average of $25.93 and a two-hundred day simple moving average of $28.42. Weyerhaeuser has a 12-month low of $24.10 and a 12-month high of $34.03. The firm has a market cap of $19.84 billion, a price-to-earnings ratio of 49.73, a PEG ratio of 4.74 and a beta of 1.16. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50.

Weyerhaeuser (NYSE:WY) last issued its earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. The business’s revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.16 earnings per share. On average, equities analysts forecast that Weyerhaeuser will post 0.78 EPS for the current year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 3.07%. Weyerhaeuser’s dividend payout ratio (DPR) is presently 168.00%.

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

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.