Sumitomo Mitsui Trust Group Inc. grew its holdings in Weyerhaeuser Company (NYSE:WY – Free Report) by 3.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,385,158 shares of the real estate investment trust’s stock after buying an additional 52,107 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Weyerhaeuser were worth $26,387,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. First Eagle Investment Management LLC increased its holdings in shares of Weyerhaeuser by 10.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 51,179,282 shares of the real estate investment trust’s stock worth $1,225,232,000 after acquiring an additional 4,885,818 shares during the last quarter. Wellington Management Group LLP raised its stake in Weyerhaeuser by 14.3% in the 2nd quarter. Wellington Management Group LLP now owns 43,574,118 shares of the real estate investment trust’s stock valued at $1,043,164,000 after acquiring an additional 5,437,685 shares during the period. State Street Corp raised its stake in Weyerhaeuser by 3.3% in the 2nd quarter. State Street Corp now owns 34,298,957 shares of the real estate investment trust’s stock valued at $821,117,000 after acquiring an additional 1,106,553 shares during the period. Bank of New York Mellon Corp bought a new stake in Weyerhaeuser in the 2nd quarter valued at $468,969,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Weyerhaeuser by 11.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 6,212,273 shares of the real estate investment trust’s stock valued at $151,766,000 after purchasing an additional 639,334 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have commented on WY. Raymond James Financial raised shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research report on Friday, July 10th. Bank of America upgraded shares of Weyerhaeuser from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $28.00 to $25.00 in a report on Wednesday, October 14th. Citigroup increased their price objective on shares of Weyerhaeuser from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Monday. The Goldman Sachs Group restated a “buy” rating and set a $27.00 target price on shares of Weyerhaeuser in a research note on Friday, October 30th. Finally, Royal Bank Of Canada decreased their price target on shares of Weyerhaeuser from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Weyerhaeuser has an average rating of “Moderate Buy” and an average price target of $26.10.
Check Out Our Latest Analysis on WY
Weyerhaeuser Price Performance
Shares of NYSE WY opened at $21.64 on Friday. The firm has a market cap of $15.59 billion, a P/E ratio of 34.90, a price-to-earnings-growth ratio of 4.45 and a beta of 0.92. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. Weyerhaeuser Company has a 1-year low of $18.25 and a 1-year high of $27.75. The business’s 50 day moving average is $20.63 and its 200-day moving average is $23.59.
Weyerhaeuser (NYSE:WY – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Weyerhaeuser had a return on equity of 1.72% and a net margin of 6.47%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $0.12 EPS. Equities research analysts predict that Weyerhaeuser Company will post 0.27 earnings per share for the current year.
Weyerhaeuser Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were given a dividend of $0.21 per share. The ex-dividend date was Friday, September 4th. This represents a $0.84 annualized dividend and a yield of 3.9%. Weyerhaeuser’s dividend payout ratio (DPR) is presently 135.48%.
About Weyerhaeuser
Weyerhaeuser (NYSE: WY) is a real estate investment trust focused on timberlands and wood products. The company owns or controls approximately 10.4 million acres of timberlands in the United States and manages additional timberlands under long-term licenses. Its operations are concentrated in major timber-producing regions, including the Pacific Northwest, the South and the Western United States.
Weyerhaeuser’s principal products include lumber, engineered wood products, structural panels and other materials used in residential and commercial construction.
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