J.W. Cole Advisors Inc. grew its position in Weyerhaeuser (NYSE:WY – Get Rating) by 8.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 20,964 shares of the real estate investment trust’s stock after purchasing an additional 1,545 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Weyerhaeuser were worth $795,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Weyerhaeuser by 1.5% during the first quarter. Vanguard Group Inc. now owns 120,519,772 shares of the real estate investment trust’s stock valued at $4,567,700,000 after purchasing an additional 1,817,002 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Weyerhaeuser by 0.5% during the fourth quarter. BlackRock Inc. now owns 57,396,782 shares of the real estate investment trust’s stock valued at $2,363,599,000 after purchasing an additional 269,617 shares during the last quarter. State Street Corp raised its holdings in shares of Weyerhaeuser by 5.2% during the fourth quarter. State Street Corp now owns 31,466,169 shares of the real estate investment trust’s stock valued at $1,295,777,000 after purchasing an additional 1,546,975 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Weyerhaeuser by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 16,321,125 shares of the real estate investment trust’s stock valued at $670,801,000 after purchasing an additional 372,177 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Weyerhaeuser during the fourth quarter valued at approximately $580,040,000. 81.09% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
WY has been the subject of several research reports. Raymond James decreased their price objective on shares of Weyerhaeuser from $50.00 to $45.00 and set a “strong-buy” rating for the company in a report on Monday, September 12th. The Goldman Sachs Group cut their target price on shares of Weyerhaeuser from $49.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, June 23rd. Truist Financial began coverage on shares of Weyerhaeuser in a research report on Wednesday, June 29th. They set a “hold” rating and a $37.00 target price for the company. Argus lowered shares of Weyerhaeuser from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Finally, StockNews.com upgraded shares of Weyerhaeuser from a “hold” rating to a “buy” rating in a research report on Monday, September 12th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Weyerhaeuser presently has an average rating of “Moderate Buy” and an average price target of $41.25.
Weyerhaeuser Stock Performance
Weyerhaeuser (NYSE:WY – Get Rating) last posted its quarterly earnings results on Friday, July 29th. The real estate investment trust reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.02). The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.83 billion. Weyerhaeuser had a return on equity of 24.49% and a net margin of 23.10%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 earnings per share. Equities analysts forecast that Weyerhaeuser will post 3.14 earnings per share for the current fiscal year.
Weyerhaeuser Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.34%. Weyerhaeuser’s payout ratio is currently 21.95%.
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.
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