State of Alaska Department of Revenue Acquires 6,585 Shares of Weyerhaeuser Company (NYSE:WY)

State of Alaska Department of Revenue increased its holdings in Weyerhaeuser Company (NYSE:WY) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 441,153 shares of the real estate investment trust’s stock after purchasing an additional 6,585 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Weyerhaeuser worth $12,915,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of WY. South Plains Financial Inc. bought a new stake in Weyerhaeuser during the fourth quarter valued at about $25,000. Fourth Dimension Wealth LLC bought a new stake in Weyerhaeuser during the fourth quarter valued at about $27,000. Assetmark Inc. boosted its holdings in Weyerhaeuser by 290.9% during the fourth quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 922 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in 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 acquiring an additional 807 shares during the period. Finally, Lee Danner & Bass Inc. bought a new stake in Weyerhaeuser during the fourth quarter valued at about $44,000. 82.99% of the stock is currently owned by institutional investors.

Weyerhaeuser Stock Performance

NYSE:WY opened at $25.96 on Thursday. Weyerhaeuser Company has a 12-month low of $24.10 and a 12-month high of $34.03. The company has a quick ratio of 1.26, a current ratio of 2.04 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $18.82 billion, a PE ratio of 51.91, a price-to-earnings-growth ratio of 33.56 and a beta of 1.16. The firm has a 50-day moving average price of $26.02 and a 200 day moving average price of $28.22.

Weyerhaeuser (NYSE:WY) last posted its quarterly 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 during the quarter, compared to analyst estimates of $1.80 billion. Weyerhaeuser had a net margin of 5.15% and a return on equity of 3.59%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 earnings per share. Research analysts anticipate that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Friday, May 30th. Weyerhaeuser’s payout ratio is 168.00%.

Weyerhaeuser announced that its Board of Directors has authorized a share repurchase plan 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 buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

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.