Bank of America Corp DE Has $166.37 Million Position in Weyerhaeuser (NYSE:WY)

Bank of America Corp DE decreased its holdings in shares of Weyerhaeuser (NYSE:WY) by 10.2% in the 4th quarter, HoldingsChannel reports. The firm owned 5,910,261 shares of the real estate investment trust’s stock after selling 673,965 shares during the period. Bank of America Corp DE’s holdings in Weyerhaeuser were worth $166,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WY. South Plains Financial Inc. acquired a new stake in Weyerhaeuser during the 4th quarter worth approximately $25,000. Assetmark Inc. lifted its holdings in shares of Weyerhaeuser by 290.9% during the fourth quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 922 shares in the last quarter. Asset Planning Inc acquired a new position in shares of Weyerhaeuser in the fourth quarter valued at about $36,000. TD Waterhouse Canada Inc. grew its stake in shares of Weyerhaeuser by 136.1% in 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 in the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in Weyerhaeuser during the fourth quarter worth about $44,000. 82.99% of the stock is owned by institutional investors.

Weyerhaeuser Trading Up 1.0 %

Shares of WY opened at $26.20 on Friday. The business’s 50-day moving average price is $27.40 and its 200-day moving average price is $29.23. 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 has a twelve month low of $24.10 and a twelve month high of $34.03. The stock has a market cap of $19.00 billion, a PE ratio of 47.64, a P/E/G ratio of 4.74 and a beta of 1.15.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. The firm 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%. During the same period last year, the firm posted $0.16 earnings per share. The business’s revenue was down 4.9% compared to the same quarter last year. On average, equities analysts forecast that Weyerhaeuser will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a $0.21 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 3.21%. Weyerhaeuser’s dividend payout ratio is 168.00%.

Weyerhaeuser announced that its board has authorized a stock buyback plan on Thursday, May 8th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WY shares. StockNews.com upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Cibc World Mkts upgraded Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. JPMorgan Chase & Co. began coverage on Weyerhaeuser in a report on Tuesday, April 8th. They set an “overweight” rating and a $31.00 target price on the stock. Truist Financial dropped their price target on Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. Finally, Citigroup reduced their price objective on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Weyerhaeuser presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.75.

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.